Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Bill Clinton Scandal - SANITY CHECK -- Ignore unavailable to you. Want to Upgrade?

To: Zoltan! who wrote (55503)	7/6/1999 1:23:00 PM
From: truedog	Respond to of 67261

to: Zoltan! from: truedog Tell that to the Empress of Silicon Valley. Please convince her!!! TD

To: Zoltan! who wrote (55503)	7/6/1999 2:15:00 PM
From: DMaA	Read Replies (1) \| Respond to of 67261

Clinton prescribes corporate welfare and trickle down economics to remedy poverty: interactive.wsj.com July 6, 1999 Clinton Plans to Unveil Grants To Develop Poorer Communities Associated Press CLARKSDALE, Miss. -- President Clinton, with some funding from corporate America, is offering a mix of public and private investment to spur economic activity in some of the nation's forgotten communities. Mr. Clinton planned to announce $64 million in community development grants Tuesday, including $15 million for the Mississippi Delta region. He then planned to join a Bank of America executive in East St. Louis, Ill., to outline a new $500 million capital investment fund. The announcements were part of Mr. Clinton's four-day tour through poor communities from Appalachia to Los Angeles, highlighting what the administration is touting as the "untapped markets" in America's inner cities and rural areas. "We have to provide incentives for people to go there," he said Monday in Hazard, Ky. "We know that government can't solve these problems alone. We know that we'll never get anywhere by leaving people alone either." Mr. Clinton planned to visit a Mississippi cabinetmaker who opened his shop with a secured loan from the Enterprise Corporation of the Delta, which provides capital and credit to small businesses that wouldn't qualify for conventional loans. A handful of corporate leaders were accompanying Mr. Clinton, as well as several Cabinet secretaries and politicians, as they review successful local projects and deliver promises of investment and technical assistance. Mr. Clinton was in the Mississippi Delta on Tuesday announcing $60 million in grants from the Community Development Financial Institutions Fund to community development organizations across the country. The fund was created in 1994. Cathy Bessant, a vice president of Bank of America, committed $100 million to the fund. Later Tuesday, with Mr. Clinton by her side, she planned to announce the formation of a $500 million capital investment fund targeted at often-overlooked communities. Andrew Cuomo, secretary of housing and urban development, will present a study that estimates inner-city residents possess $331 billion in purchasing power. "This is not about charity," Mr. Cuomo said. "It's about investment." Mr. Clinton on Monday visited Tyner, Ky., where he met residents of the Whispering Pines neighborhood, a cluster of small trailer homes with about 100 residents. Residents who stood along their path told Mr. Clinton they need better transportation and housing. Most of the homes had broken windows, some covered with cardboard or wood. "My first electricity was in 1961. I didn't have running water in a bathroom until five years ago," Jean Collett said. The president then traveled by helicopter to Hazard, where he told some 2,000 people who waited hours in the blistering heat to see him that it was time that former coal-mining towns like theirs began to share in the economic good times. "I came here to show America who you are," Mr. Clinton said. "At this time of prosperity, if we can't find a way to give every single hard-working American family a chance to participate in the future we're trying to build for our country, we'll never get around to doing it." The message was welcomed by the people of Hazard, the seat of Perry County, where the unemployment rate is 6.7%, compared with a national average that has been holding below 5%. The county's per capita income, at about $16,000, is only 63% of the national average. "We need help. We need hope," Hazard Mayor William Gorman said. After a late-night dinner of ribs and catfish at the Blues City Cafe on Memphis' famed Beale Street, Mr. Clinton toured the National Civil Rights Museum, located at the site of the former Lorraine Hotel, where the Rev. Martin Luther King was assassinated. Mr. Clinton was accompanied by about 20 people who had supped with him, including Labor Secretary Alexis Herman, Transportation Secretary Rodney Slater, and Jesse Jackson, who had accompanied Mr. King to Memphis on the day he was slain in 1968.