Posted on 11/16/2011 9:22:41 AM PST by GlockThe Vote
President John F. Kennedy’s nephew, Robert Kennedy, Jr., netted a $1.4 billion bailout for his company, BrightSource, through a loan guarantee issued by a former employee-turned Department of Energy official.
It’s just one more in a string of eye-opening revelations by investigative journalist and Breitbart editor Peter Schweizer in his explosive new book, Throw Them All Out.
The details of how BrightSource managed to land its ten-figure taxpayer bailout have yet to emerge fully. However, one clue might be found in the person of Sanjay Wagle.
Wagle was one of the principals in Kennedy’s firm who raised money for Barack Obama’s 2008 presidential campaign. When Obama won the White House, Wagle was installed at the Department of Energy (DOE), advising on energy grants.
From an objective vantage point, investing taxpayer monies in BrightSource was a risky proposition at the time. In 2010, BrightSource, whose largest shareholder is Kennedy’s VantagePoint Partners, was up to its eyes in $1.8 billion of debt obligations and had lost $71.6 million on its paltry $13.5 million of revenue.
Even before BrightSource rattled its tin cup in front of Obama’s DOE, the company made it known publicly that its survival hinged on successfully completing the Ivanpah Solar Electrical System, which would become the largest solar plant in the world, on federal lands in California.
(Excerpt) Read more at biggovernment.com ...
3 times as big as solyndra!
I hear you. Everyday it gets rubbed in our faces how the criminal class is screwing us.
Maybe so many of them are so corrupt that nobody is left who is in any position to fight it.
I think it is just too late to save this freaking mess.
The solution is 235 years old.
Tar and feathers and then run out of town on a rail would be far better for this bunch.
Nice pic
bump
From a famous (and very good) movie starring Robert Mitchum. Know which one?
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