1.4 BILLION $$$ of yours to Kennedy Jr. Green Company bailout

Discussion in 'Politics' started by tinydancer, Nov 16, 2011.

  1. tinydancer
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    tinydancer Diamond Member

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    Wow. Just wow. I don't understand how any real Democrat from the past can keep on supporting this most corrupt regime. I want this book "Throw them all out".

    1.4 Billion taxpayer dollars to a 1% person. Robert Kennedy Jr. Truly OWS are idiots and should be in Washington with a new slogan "Occupy 1600".

    Well these libs are truly swine at the trough. 1% percent swine though.

    Here's just part of the piece. Please note that the 1,400 jobs work out to be a million dollars a piece.

    Ironically, in 2008, Kennedy wrote a CNN article praising Obama as reminiscent of his famous father and uncle.

    The article, titled “Obama’s Energy Plan Would Create a Green Gold Rush,” proved prophetic.

    However, the “green gold rush” came in the form of $1.4 billion of taxpayers’ money flowing into the pet projects of rich venture capital investors like Kennedy, not average citizens.

    What’s more, BrightSource touted the Ivanpah project as a green jobs creator.

    Yet as its own website reveals, the thermal solar plant will only create 1,400 jobs at its peak construction and 650 jobs annually thereafter.

    Even using the peak estimate of 1,400 jobs, that works out to a cost to taxpayers of $1 million per job created.

    As Schweizer writes in Throw Them All Out, “A billion dollars in taxpayer money being sent to wealthy investors to bail them out of risky investments—does this sound familiar to anyone?”


    » Robert Kennedy, Jr.
     
  2. uscitizen
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    uscitizen Senior Member

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    So Kennedy's company actually got 1.4 billion or are you just being deceitful?

    From your post:

    "came in the form of $1.4 billion of taxpayers’ money flowing into the pet projects of rich venture capital investors like Kennedy"


    Concious deciet or just a comprehension problem?
     
    Last edited: Nov 16, 2011
  3. Zander
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    Zander Platinum Member

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    Obama is the KING of Crony Socialism.
     
  4. uscitizen
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    uscitizen Senior Member

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    Everyone forgot the S&L bailout?
    Silvarado S&L and a Bush?

    We should not forget since the bonds sold to bail out the S&L matured not long ago and we are just now paying for it.
    or at least paying off that "credit card" with another "credit card" actually.
     
  5. tinydancer
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    tinydancer Diamond Member

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    Would you like some ketchup to go with the crow you are about to eat?:lol:

    Read the article.

    Robert Kennedy, Jr.’s ‘Green’ Company Scored $1.4 Billion Taxpayer Bailout
    by Wynton Hall

    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.

     
  6. MeBelle
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    MeBelle Mebellien Mothership © Supporting Member

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    Looks legit to me. From the link.

    "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.

    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."

    I would really love to see solar energy working out for all of us!
     
  7. uscitizen
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    uscitizen Senior Member

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    NP I admit to being wrong. The origional post was poorly written and indicated that 1.4 bill was spread out among green companies like Kennedys.


    But yes I was wrong.
    See I take personal responsibility seriously and will not even blame my mistake on Bush ;)
     
  8. uscitizen
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    uscitizen Senior Member

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    And for the record I am against bailing out private corporations. Be they left or right wing companys.
     

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