Obama’s 'Crony-Gate' Scandal Widens — Billions Now Under Scrutiny

Discussion in 'Immigration/Illegal Immigration' started by Angelhair, Sep 16, 2011.

  1. Angelhair
    Offline

    Angelhair Senior Member

    Joined:
    Aug 22, 2009
    Messages:
    2,597
    Thanks Received:
    150
    Trophy Points:
    48
    Ratings:
    +153
    Allegations that White House aides attempted to pressure an Air Force general to alter his congressional testimony in order to aid a firm controlled by a prominent Democratic donor lent new momentum Friday to GOP complaints that “crony capitalism” contributed to the Obama stimulus programs’ failure to revive the economy.

    Instead of the money being spent wisely, they suggest, billions were squandered by an administration that believed it could reward its political backers without impeding the economic recovery.

    They point to the loss of over 1,100 jobs when the now-defunct solar-panel firm Solyndra, which received over half a billion dollars in federal stimulus dollars, closed its doors.

    “Crony capitalism was responsible for the failure of the stimulus — about $90 billion went to clean energy,” Tom Borelli, a PhD and director of the National Center for Public Policy Research’s Free Enterprise Project, told Newsmax on Friday.

    News that four-star Gen. William Shelton was urged to change his testimony to make it more favorable to a firm with close ties to the White House adds to the narrative of an administration singularly focused on helping its political friends.

    Those allegations come in the same week as a congressional probe continued into loan guarantees given to Solyndra over the objections of Office and Management and Budget staff who warned the company had yet to demonstrate a viable business model.

    President Barack Obama later hailed the Solyndra initiative as a model example of how green-energy jobs could help bail out the U.S. economy.

    The Republican in charge of the Solyndra probe, Oversight and Investigations subcommittee chairman Rep. Cliff Stearns, told Newsmax Thursday that Solyndra’s “enormous amount of expenditures would mean there’s apt to be fraud, there’s apt to be shall we say, crony capitalism because a lot of people were moving too quickly and spending too much money and not carefully assessing its value and its importance to the development of the solar panel.”

    Conservative think tanks and pundits are positioning Solyndra and the Shelton testimony as just the tip of a much larger problem: An administration all too eager to manipulate the levers of federal power and largess in order to reward its political supporters. Among the examples being cited:

    • The dual role of GE CEO Jeffrey R. Immelt, whose corporation stood to benefit from the administration’s aggressive development of green energy at the same time he advised the administration on job growth and global competitiveness. Immelt, who has described GE’s energy-efficiency products as an $18 billion-a-year business, has been a heavy donor to both Republicans and Democrats. But Borelli says the green-energy endeavors, including GE’s, are “totally dependent” on federal support and subsidies. According to Recovery.gov, GE has received over $126 million in grants and contracts from various government departments, including $31 million from the Department of Energy.

    • The Daily Caller has reported that firms associated with venture capitalist John Doerr have received over half a billion in grants and loans related to green technologies. It adds that Doerr and his wife have donated about $800,000 to Democrats since 2000, and his firm has donated a substantial amount as well. Democrats called on Doerr repeatedly to testify at congressional hearings about the economic benefits of green initiatives. In 2009, he went before Congress to call for “a bold, coordinated campaign of investment and incentives to accelerate green innovation” that he suggested would result in thousands of new jobs.

    • Forbes.com columnist Larry Bell says ABC News and the nonprofit Center for Public Integrity has linked $510 million in stimulus loans and grants to green-tech companies in a portfolio owned by Steve Westly. Westly is a campaign money-bundler who reportedly raised over $500,000 for the president’s campaign. According to Bell, Westly was appointed to serve on a 12-member advisory board that would help set priorities that could impact his business interests. One firm Bell says Westly has an interested in, Tesla Motors, saw its stock jump 6% after the administration announced it would offer $7,500 federal buyer-rebates for electric-car purchases.

    • Bell also cites “enigmatic circumstances” involving a $584,000 stimulus tax credit granted to Serious Materials, a small window manufacturing company. In his column Bell writes: “Robin Roy, a Serious executive, is married to Cathy Zoi, a former assistant secretary for the Energy Department’s office of Energy Efficiency and Renewable Energy (EERE) which was responsible for $16 billion in stimulus money. She was nominated for the position by the Obama administration, and Vice President Biden visited the Serious plant to praise its work.

    • Bell also tells Newsmax that untold billions of stimulus funds actually went to benefit foreign companies. A new solar plant in Blythe, Calif., received a $2.1 billion stimulus grant, despite the fact that the project was awarded to a German firm, Solar Millennium and its U.S. subsidiary, Solar rust of America. Similarly, he reports the Energy Department gave out $1.45 billion in loan guarantees to Abendgoa Solar, a Spanish company building plants in California and Arizona.

    On Friday, the National Center for Public Policy Research distributed an e-mail headlined: “Solyndra is only the tip of the crony capitalism iceberg.”
    “Congress needs to determine if key advisors of President Obama were rewarded with stimulus money in return for political donations and support of the president’s energy policy,” says Borelli. “There is a clear relationship between recipients of economic stimulus funds and support for Obama’s clean energy agenda.”

    The White House and the Energy Department have steadfastly denied any favoritism was involved in its grants and loan guarantees.

    Obama
     
    • Thank You! Thank You! x 1
  2. waltky
    Offline

    waltky Wise ol' monkey Supporting Member

    Joined:
    Feb 6, 2011
    Messages:
    20,815
    Thanks Received:
    1,789
    Trophy Points:
    215
    Location:
    Okolona, KY
    Ratings:
    +3,871
    Wonder if Steven Chu is any relation to Elaine Chu?...
    :confused:
    White House Ignored Warnings About Solyndra's Financial Health
    September 16, 2011 WASHINGTON (AP) — The Obama administration was worried about the financial health of a troubled solar energy company even as officials publicly declared the company in good shape, newly released emails show.
    See also:

    WH Denies Involvement in Solyndra Loan, Despite E-Mails Indicating Otherwise
    September 16, 2011 Washington (CNSNews.com) – The White House says it played no role in steering more than half-a-billion in taxpayer dollars to a solar panel firm that went bankrupt and is now under investigation by the FBI. But e-mails subpoenaed by the House Energy and Commerce Committee indicate the White House was eager to move quickly on the loan.
     
  3. mudwhistle
    Online

    mudwhistle Diamond Member

    Joined:
    Jul 21, 2009
    Messages:
    65,259
    Thanks Received:
    11,923
    Trophy Points:
    2,070
    Location:
    Wetwang With Fimber, Yorkshire
    Ratings:
    +26,196
    This is worse then Enron but it's not going to go very far.
     
  4. waltky
    Offline

    waltky Wise ol' monkey Supporting Member

    Joined:
    Feb 6, 2011
    Messages:
    20,815
    Thanks Received:
    1,789
    Trophy Points:
    215
    Location:
    Okolona, KY
    Ratings:
    +3,871
    Hey, it's a good idea - trust us...
    :eusa_eh:
    Obama Administration Defends Jobs Record of Loan Program That Backed Solyndra
    September 15, 2011 | The Energy Department is pushing back hard against reports that its $38.6 billion loan guarantee program, designed to ignite the nation's clean energy sector, has created only 3,500 permanent jobs -- despite spending half the allocated amount already and boasting it would create or save 64,000 jobs.
     
  5. rdean
    Offline

    rdean rddean

    Joined:
    Aug 9, 2009
    Messages:
    60,075
    Thanks Received:
    6,886
    Trophy Points:
    1,840
    Location:
    chicago
    Ratings:
    +14,923
    I wish they would find all the billions Bush lost in Iraq.

    Billions over Baghdad | Politics | Vanity Fair

    at least $9 billion has gone missing, unaccounted for, in a frenzy of mismanagement and greed.
     
  6. Angelhair
    Offline

    Angelhair Senior Member

    Joined:
    Aug 22, 2009
    Messages:
    2,597
    Thanks Received:
    150
    Trophy Points:
    48
    Ratings:
    +153
    Get over Bush; get over ALL the wars and billions that they cost; get over it period!!! Stop whining over what was and concentrate on saving this great nation that is on it's way to doom faster than your whining will be heard.
     
  7. JakeStarkey
    Offline

    JakeStarkey Diamond Member Supporting Member

    Top Poster Of Month

    Joined:
    Aug 10, 2009
    Messages:
    137,020
    Thanks Received:
    12,315
    Trophy Points:
    2,165
    Ratings:
    +32,404
    The crony capitalism that destroyed the Bush administration, that yanked us into the Great Recession, that now will destroy the Obama administration, and that will sink Perry's candidacy ~~ the problem is clearly the amount of $$$ in the political system.

    Bush, Obama, Perry ~~ they are the symptoms, crony capitalism is the cause.
     
  8. rdean
    Offline

    rdean rddean

    Joined:
    Aug 9, 2009
    Messages:
    60,075
    Thanks Received:
    6,886
    Trophy Points:
    1,840
    Location:
    chicago
    Ratings:
    +14,923
    Why? It's those Republican policies that have harmed the nation. Republicans want to pretend their Administration never happened.
     
  9. Angelhair
    Offline

    Angelhair Senior Member

    Joined:
    Aug 22, 2009
    Messages:
    2,597
    Thanks Received:
    150
    Trophy Points:
    48
    Ratings:
    +153
    And why not since democrats have harmed the nation in many more ways and are still doing so. Pick your poison and stop looking at the USA via parties. We are ONE nation under GOD! Like it or not.
     
  10. Xchel
    Offline

    Xchel Active Member

    Joined:
    Sep 6, 2011
    Messages:
    979
    Thanks Received:
    71
    Trophy Points:
    28
    Location:
    San Pedro Sula Honduras
    Ratings:
    +71
    why is this thread in the Immigration section? This has nothing to do with immigration.
     

Share This Page