Anybody remember this?
[youtube]http://www.youtube.com/watch?v=EzcupUpxL5U[/youtube]
And as the lazy, whining, and confused OWS nimrods march we get this news.
At least ten members of President Barack Obama’s 2008 campaign finance committee, plus more than a dozen of his campaign bundlers, benefited from sweetheart loans through the Department of Energy (DOE) that collectively dwarfed those given to Solyndra and Fisker.
Around 80% of all the money loaned out by the Department of Energy’s 1705 Loan Guarantee Program, over 16 BILLION dollars went to companies run by, or owned by, Obama cronies.
Shocked?
I think not.
After living with Obama for 3 years the details of the cronyism isn’t shocking either:
Instead of appointing a team of scientists or engineers to direct the DOE’s loan program office, Schweizer contends, the Obama administration placed some of the president’s biggest fundraisers in control. For example, Steve Spinner, who served on the Obama campaign’s National Finance Committee and was himself a top bundler, was tapped as the “chief strategic operations officer” for the DOE’s loan programs. Spinner was joined at DOE by another Obama fundraiser, Sanjay Wagle, and by Democrat donor Jonathan Silver, who would serve as executive director of the program.
With the scientists and engineers effectively out of the way, and the President’s top backers at the levers of the DOE’s loan program, the Obama administration was able to funnel billions of taxpayer dollars back to green energy companies associated with the President’s political and financial patrons.
For members of Obama’s national finance committee, the returns on investing in Obama’s 2008 campaign were incredibly lucrative, according to Schweizer. For every dollar committee members raised, they received $24,783 in return in the form of DOE sweetheart loans, on average.
…The Government Accountability Office red-flagged this apparent–and historic–pattern of crony capitalism in its March 2011 report, which found that the DOE’s loan and grant programs had doled out federal monies through a process that appeared “arbitrary,” lacked proper documentation, and that “had treated applicants inconsistently in the application review process, favoring some applicants and disadvantaging others.”
Oh, btw….SEIU endorsed Obama, saying, among other things, that he is for the 99%!
So I’m guessing that 99% wants cronyism government managed rather than privately eh?
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