Skip to comments.Report: 80% of DOE Green Energy Loans Went to Obama Backers (SHOCKER)
Posted on 11/14/2011 9:11:20 AM PST by Driftwood1
A new book by Hoover Institution fellow Peter Schweizer details the startling extent of the cronyism that has pervaded President Obamas green jobs push. According to Schweizer, 4 out of every 5 renewable energy companies backed by the Energy Department was run by or primarily owned by Obama financial backers.
Those companies political largesse is probably the best investment they ever made in alternative energy, Schweizer explains. It brought them returns many times over.
Doug Ross spotted the relevant excerpt of Schweizers book (h/t Ben Domenechs Transom):
When President-elect Obama came to Washington in late 2008, he was outspoken about the need for an economic stimulus to revive a struggling economy After he was sworn in as president, he proclaimed that taxpayer money would assuredly not be doled out to political friends
But an examination of grants and guaranteed loans offered by just one stimulus program run by the Department of Energy, for alternative-energy projects, is stunning. The so-called 1705 Loan Guarantee Program and the 1603 Grant Program channeled billions of dollars to all sorts of energy companies
In the 1705 government-backed-loan program [alone], for example, $16.4 billion of the $20.5 billion in loans granted as of Sept. 15 went to companies either run by or primarily owned by Obama financial backersindividuals who were bundlers, members of Obamas National Finance Committee, or large donors to the Democratic Party. The grant and guaranteed-loan recipients were early backers of Obama before he ran for president, people who continued to give to his campaigns and exclusively to the Democratic Party in the years leading up to 2008. Their political largesse is probably the best investment they ever made in alternative energy. It brought them returns many times over.
(Excerpt) Read more at blog.heritage.org ...
It’s just about sex; let’s move on.
Total coincidence, Bush did it too, move on.
Remember the parrot from the Disney movie “Aladdin”?
“Look at me, NOT be surprised!”
Pigs to the trough,again.
Most transparent and open administration ever,my a..!
Halliburton! Halliburton!! Halliburton!!! Bush did it too!! Halliburton!!! Inherited mess! Not my fault!! The American people!! Let me be clear!! Halliburton!!
Can anyone name an 0bama policy that didn’t either enrich his donors nor was a defacto reparations program?
Another Bombshell Expose’! Green Loans! The Real Story!
What would you say if I told you all the green loans were a scam? They were a slush fund that went to donors, bundlers, politicians, their family, friends, lawyers and lobbyists.
What I am about to tell you is going to make your head explode!
You all know about the Solyndra scam that’s evolving. Well Solyndra is not the only loan that went bad. All the loans went bad. That was the intent all along.
Every loan benefited Obama. Every loan benefited Dems. Every loan benefited Dem donors.
We have been researching Solyndra and Zucotti Park. That is a strange combination on it’s face, but remember I had told you about Zucotti Park belonging to Brookfield properties.
Here’s the deal. Politicians know the money is coming. They let their big donors, family, friends, lawyers and Lobbyists know. They invest in failing companies. They know the company is going to go bankrupt. It’s designed that way.
They make a pre bankruptcy agreement where they get the investment back, first, before other creditors and taxpayers see a dime.
Once they obtain the loans, the real laundering begins.
They strip every dime. Pay off each other. Donate to Obama, and other dems.
Some companies funnel money overseas, to China, Finland, Russia, and other subsidiaries.
Chu runs cover.
The companies go bankrupt as intended and the money is laundered, never to be seen again.
THIS needs to put into commercials and aired widely. Do a split screen with Zero making promises and the reality. Work in the OWS tools split with Zero "bring a gvn" and other violent speeches.
That does not make sense.
exactly. South Park, the OJ trial
Any company getting a government loan should not be able to contribute any of the borrowed money to politicians or their parties.
it’s called ‘patronage’. only FDR has been better at it.
In all fairness, they’re probably just not al that many evil Republicans involved in profit-losing ventures such as “green” energy companies that make unwanted and uneconomical “energy” products. After all, we know that evil Republicans only work for evil PROFIT-MAKING corporations. That and the fact that the Obammunists know that evil Republicans wouldn’t kick back anything to Democrat campaign coffers. So, who else would the Obammunists be shoveling borrowed taxpayer money too? Why other Democrats, of course! Democrats who are involved in profit-losing scam “energy” companies and who are quite happy to steal taxpayer dollars shoveled at them by the Obammunists.
“Any company getting a government loan should not be able to contribute any of the borrowed money to politicians or their parties.”
That would be a good law. Can we still pass a good law?
Friends of ours just went overseas on vacation. They could barely afford anything because their American money wasn’t worth much. This is what the NWO, the Federal Reserve and Obama’s Communists have done to us.
How did the other 20 percent get loose?
Some get large sums of stimulus just for having political connections. These are in industries where others more qualified innovate and create jobs when they get loans.
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