Today's Video Headlines: 2/19/24
Don't blame the left: 'Moderate' Democrats like Eric Adams are failing on the migrant crisisState of the City shows Mayor Adams is big on ideas, short on actionIt takes money to make money, as the old saying goes, and, apparently, it also takes money — as much as $53 million — to give money away.
Providing mass-scale meals competently and with options for specific needs — halal, kosher, vegan, non-gluten — isn’t that hard: the school system does it, airlines do it, hospitals and jails do it.It wouldn’t be that difficult for the city to solve this problem: on-site city auditors could refuse to pay for meals that are objectively inedible, with visible mold, for example, or with expired labeling.
MoCaFi was founded by Wole Coaxum, a former managing director at JPMorgan Chase, who said the death of Michael Brown in Ferguson, Mo., in 2014 inspired him to serve the “underbanked” and “narrow the racial wealth gap.”How did HPD choose Mobility Capital? The contract makes it quite clear: MoCaFi was “referred to HPD by City Hall.”None. As HPD helpfully notes, on a “listing of prior / related emergency large contracts,” MoCaFi is “a new provider of emergency services for HPD.
It’s easy to work out how MoCaFi would get a $50 million fee or so, the maximum allowed under the contract. After stripping out various fees the company gets for printing up the blank cards and such, the city has purposely given itself the flexibility to disburse at least $2.5 billion on these pre-paid debit cards over a year.
Under the contract, upon request by the city, MoCaFi will simply dump off hundreds, or more, of blank debit cards with no one’s name on them, with unknown amounts of money to be loaded on them — up to “$10,000 per card” at any one time — by the city.
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