With unemployment soaring, why is Kinder diverting job creation money to bike race debt?

The Missouri Development Finance Board is in the business of... financing development.

But under the Chairmanship of Peter Kinder, the Board has become a key sponsor of Kinder's novelty bike race, the Tour of Missouri.

Rather than investing in job creation, the Board initially donated $100,000 to the race.  And in December, Kinder ramrodded approval for another $350,000 to payoff the race's debt, much of that to GOP cronies.  According to Board minutes, Kinder will ask to divert additional job creation money to the 2008 race.

Meanwhile, real Missourians are losing their jobs and homes for want of job creation investments.­