Obama Center’s $470M “Safety Net” a Sham? Taxpayers Face Millions in Risk as Subcontractors Go Unpaid

Epstein disputed the foundation’s interpretation, arguing that an endowment is intended to provide meaningful financial protection and that a promise to raise money in the future is not the same as having a funded endowment in place.

“On their view, putting a penny in an endowment fund covers all the risks,” Epstein said.