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State quietly halts $200M cannabis social equity fund
Crain's Leftwing Business ^ | May 22, 2024 11:43 AM | Adam Jackson, Green Market Report

Posted on 05/22/2024 9:23:35 AM PDT by xoxox

Gov. Kathy Hochul’s administration quietly ended a $200 million program aimed at helping disadvantaged entrepreneurs open cannabis dispensaries, amid allegations of predatory lending practices.

The Social Equity Cannabis Investment Fund, which was overseen by DASNY, came under fire last month after a report by local nonprofit news outlet The City alleged that DASNY entered into an agreement that allowed a private equity firm to provide $50 million to the fund at a 15% interest rate.


(Excerpt) Read more at crainsnewyork.com ...


TOPICS: Agriculture; Business/Economy; Health/Medicine
KEYWORDS: cannibis; corruption; drugs; ganja; gatewaydrug; graft; maryjane; newyork; pot; secif; serif; socialequity; weed; wod
The Social Equity Cannabis Investment Fund, which was overseen by DASNY, came under fire last month after a report by local nonprofit news outlet The City alleged that DASNY entered into an agreement that allowed a private equity firm to provide $50 million to the fund at a 15% interest rate.
1 posted on 05/22/2024 9:23:35 AM PDT by xoxox
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To: xoxox

sounds like people getting all weed-weed up


2 posted on 05/22/2024 9:25:07 AM PDT by chajin ("There is no other name under heaven given among people by which we must be saved." Acts 4:12)
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To: xoxox

The very idea that “equity” is distributed by government is ludicrous. All they can do is put their boot on the necks of productive people and promote layabouts why promise to vote for those boots. It is disgusting what is happening here.


3 posted on 05/22/2024 9:26:24 AM PDT by bk1000 (Banned from Breitbart)
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To: xoxox

Blacks can buy weed at a discount?


4 posted on 05/22/2024 9:28:35 AM PDT by ComputerGuy (Heavily-medicated for your protection)
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To: xoxox
...aimed at helping disadvantaged, entrepreneurs Messican drug cartels open cannabis dispensaries...
5 posted on 05/22/2024 9:28:48 AM PDT by FlingWingFlyer (When did WE decide to make America a UN 5-Star Asylum Paradise for Socialist losers?)
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To: xoxox

“a $200 million program aimed at helping disadvantaged entrepreneurs open cannabis dispensaries,”

You can’t make this s*it up!


6 posted on 05/22/2024 9:30:13 AM PDT by aquila48 (Do not let them make you "care" ! Guilting you is how they control you. )
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To: aquila48

you can’t make up the fact that they promised their buddies 15% on 50 mil, either.


7 posted on 05/22/2024 9:30:42 AM PDT by xoxox
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To: xoxox

Underprivileged minorities have been selling cannabis for decades without help from Kathy Hochul.


8 posted on 05/22/2024 9:31:06 AM PDT by GSWarrior
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To: xoxox

Something similar exists here in San Francisco where “historically disadvantaged people of color” are officially assisted and encouraged by the city to get into the weed business. It’s absurd... and will ultimately only damage the “communities” they’re allegedly trying to help. Weed is now like the official sacramental herb of the secular left. Stoned and stupid... what a way to live.


9 posted on 05/22/2024 9:34:33 AM PDT by irishjuggler
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To: xoxox
DASNY = Dormitory Authority of the State of New York

The Dormitory Authority of the State of New York provides construction, financing, and allied services which serve the public good of New York State. So the claim goes.

10 posted on 05/22/2024 9:35:12 AM PDT by Robert DeLong
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To: xoxox

It’s basically a 200 million dollar money laundering scheme - for the sake of “equity” and social justice, of course.


11 posted on 05/22/2024 9:46:24 AM PDT by aquila48 (Do not let them make you "care" ! Guilting you is how they control you. )
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To: xoxox
Fifty years ago, I remember Jesse Jackson was trying to convince Congress to help Black people by liquor stores in Chicago, because, you know, keep Black cash in Black neighborhoods.
12 posted on 05/22/2024 9:50:39 AM PDT by zeestephen (Trump "Lost" By 43,000 Votes - Spread Across Three States - GA, WI, AZ)
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To: xoxox

Didn’t Ayn Rand write a novel about this sort of lefty BS? Atlas Shrugged.


13 posted on 05/22/2024 10:03:52 AM PDT by hal ogen (First Amendment or Reeducation Camp??)
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To: xoxox

A nation of extremes.

30 years ago they would nail you to the wall with a law book and beat you with a cross if you got caught with a little weed. Today they hand you money for opening a pot shop.

But everything is that way.

LGBTQIA, years ago taboo, would get you denied many jobs, no security clearance, most people wouldn’t vote for a homo, has become a badge of honor, some act of courage to “come out of the closet” with society applauding one for being a homo.

Interracial marriages, now it’s cool, all over TV, in advertising...

Socialism, once a pejorative is now a term that college kids label themselves with pridefully.

Abortion once illegal is now essentially on demand, tax subsidized, in the open...

Mental illness was once a stigma no one wanted. Today MOST kids see a shrink before they turn 18, 1/4 of them are on drugs, and everyone is literally competing over how is the bigger victim and has it harder (i.e. no privilege). Yeah, a bunch of fat kids growing up with computers, TV, the Internet, with AC, accessible health care... are crying about how hard they have it.

There was a time where every politician wrapped themselves up in Christian symbols and pretended to be moral. Now most want to distance themselves from the religious right.

Everything in this country is a fad/trend and is taken to an extreme.

There is no moderation.


14 posted on 05/22/2024 10:05:40 AM PDT by Red6
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To: aquila48

200 mil up in smoke


15 posted on 05/22/2024 10:31:05 AM PDT by bigbob
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To: xoxox

“Social equity” means $hit on Whitey, but take his money to pay for the scheme


16 posted on 05/22/2024 10:39:52 AM PDT by I want the USA back (Delusional people should not be allowed to rule over normal people.)
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To: xoxox
The Social Equity Cannabis Investment Fund

The government of New York is subsidizing business loans because too many white people run head shops? Free money for minority dealers? Just when I thought the Mafia had run out of ideas...

17 posted on 05/22/2024 10:42:19 AM PDT by Billthedrill
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To: xoxox

Proof “government” has gone rogue


18 posted on 05/22/2024 10:43:37 AM PDT by goodnesswins (Climate cultists think we should go back to the good times when people starved)
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