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2019
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Frank Bernheisel: The View From Here
Frank Bernheisel
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Frank Bernheisel
Posted 07.24.13
Just Outside Washington

FRANK BERNHEISEL

This is Koched up

The Great Recession has caused some to lose their jobs and others to lose their homes. Not so the billionaire Koch brothers who constantly complain about the government's unfair burdens on the wealthy.

In March 2008, Forbes Magazine listed the net worth of Charles and David Koch at $19 billion each, or $38 billion combined. This year, Forbes says the Koch brothers are individually worth $34 billion, or $68 billion.

It is nice to know that a Great Recession does not sink all boats.

However, during the period 2008 through 2011, the employment at Koch Industries dropped from 80,000 to 67,000 or 16 percent. How can it be that their wealth is rising and their company is laying off? Think oil derivative trading, some might say speculation. Of course there is no relationship to prices at the gas pump.

So what to do with all that money left after paying for a Park Avenue apartment and a few other goodies? Well, share the wealth, of course. The link shows where some of this sharing has gone. Clearly the objective is to increase employment; we are talking about 'job creators', after all.

http://www.sourcewatch.org/index.php?title=Koch_Family_Foundations

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