Ben Shapiro @ Big Government:
The Obama administration is famous for its crony capitalism. It’s famous for wasting money on disastrous investments like Solyndra to pay off its political allies. It now appears, however, that they go a step further: they put public funds in bad investment loans, then double down on their bad loans with free cash grants.
Here’s the short story: Angus King, former governor of Maine, Obama supporter, and front-running independent Senate candidate, owned a wind company. Obama’s Department of Energy handed over a deeply questionable $102 million loan to that company. It appears that as that company was coming under investigation, King quickly divested himself of his interests, hoping he was doing so just in time to escape scrutiny, and as he was preparing to announce his candidacy for Senate.
But that’s not where the story ends. It seems that before he left the company, King helped apply for a Department of Energy grant worth some $33 million. Which means one of two things: either the company was thriving, in which case King was helping bilk taxpayers for an additional $33 million; or the company was having financial difficulties, in which case the $33 million grant was designed to help cover the cost of the loans, $23 million of which was coming due with a maturity date of April 27, 2012.
Either way, the situation doesn’t look good for King, or the Obama Administration. Either the two were working to ensure that King’s company got paid millions so that King could reap the benefits, or they were working to cover up a troubled company and highly questionable investment subsidized with federal tax money.
Here’s the more complete story.
The details bore.
The Senate is where inbred eletists are relegated. Usually their fathers push them there because they know they are genetic defectives.
They do less harm in the Senate than if given governorship over a state.
Blobiating fools in general… rare exceptions.
Bloviating… other errors likely.
I built this.
It is necessary for the individual to claim responsibly for his or her errors, if he or she intends to benefit from his or her success.
Or become a us senator… then nothing is of concern.
I should have founded a “green” company desiring to make algae from the Wabash River(IN) into clean burning ethanol. I could have received hundreds of millions in “loans” from the Stimulus dollars, then folded the company and pocketed all the cash. I’d have to give some of it away to Obama, for his campaign, in order to not come under DOJ scrutiny, but hey, I’d still have all that loot.
Then again, integrity and dignity prevent me from knowingly embezzling money from others. Not to mention, that I’d have some trouble making the necessary liberal/progressive political connections in order to get my “company” noticed. Pig sties have never been one of my favored places of leisure.
Who is John galt..?
There are facilities capable of turning animal slaughter byproduct and ground plastics from motor vehicle reclaim into high grade crude oil product.
It sounds crazy. It is almost cost effective. Just a matter of time now.
There will be no subsidies granted or accepted.
Whyatts torch.
Wyatt … got the hardcoppy under my mutt and still screwed it up.
Reread the fountainhead and her essays as penalty this week.
Or not.
I have crossed the Wabash via the Terre Haute bridge via MC. It looked to be a shallow clean running river, fast enough not to accumulate algae, but a lot can change in 50 years.
Pigs are often maligned unmercifully for a lifestyle that is beyond their control, being creatures raised for slaughter, their lifestyle options are limited. Allowed to free range on a suitable sized property, they have a completely different lifestyle.
Unfortunately, our politicians and their crony friends resemble vultures and ravens feeding on carrion. It is a disgusting way of life, but as long as their belly is full, the could care less.
@Skookum:
Still the same, Skooks. But then, I wouldn’t let a little technical detail like that spoil what could be a ‘windfall’ from the government. (Not to mention that it is kind of my point. An intriguing and possibly viable endeavour, incompetently, and purposely, run into the ground)
As for pigs, well, they smell, Skooks. Kind of like the thought of having to shake hands and swap lies with liberal/progressives. I actually like pigs, themselves. Bacon is delicious.
@johngalt: Similar to eating dogs—pigs are about as intelligent.
A boy with an imagination on a remote ranch can invent games to pass the days away, they often involve your four legged friends. I was given a runt pig to raise as a dog. I trained my dogs to be watch dogs and the pig grew into a fairly good watch pig. We didn’t have burglars or prowlers, we had moose and bears in the oat fields and salesmen in front of the house. Bears and moose don’t like confrontations in the open, so they headed for tall timber, but salesmen are especially vulnerable when they get out of their vehicle and the farther they stray from their vehicle, the more precarious their situation becomes.
I trained my pack to lay down behind some brush as we watched a late model car approach down a long driveway. They would all be trembling at the prospect of hot pursuit, even the pig. I had to judge the speed of the salesman and his ability to move under duress. I’d usually give him about twelve strides if he looked fit: I’d give him five or six if he was fat, before I pointed my finger at the innocent salesman trying to make a living. Pointing the finger was the sign to attack and all four members of my salesman hunting pack would make a terrible noise like scalded banshees and break cover in hot pursuit of one poor salesman.
Thankfully, they all had the presence of mind to run to their cars and lock the doors. A pack of hunting and stock dogs can be intimidating, but when they run with a 250 pound pig roaring like a gut shot bear, it is much worse.
Needless to say, our salesman problem was hardly an issue.
Skook,
Were you the guy they patterned “Second Hand Lions” after? They had dogs and shotgund in that movie to deter salesmen.
Ughh..they left out how Angus and his partners did not have a substation to link into. So, he used his crony friendship with the local utility ceo to get one built.
His co-partner? Yale’s $22 Billion endowment fund, who would not use their own money to build this wind farm.
Oh, and Angus left Maine $1.2 Billion in debt when he left office in his $240,000 custom made Mercedes camper.
If he was ever alone in the woods, he would be bear food.