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Seriously

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See if you can see the similarities between these and Solyndra.

Obama Kick-Back Cronyism, Part 1: Stimulating Green Energy the Chicago Way

Obama, Rezko, Allen Davis, Valerie Jarrett, Bill Ayers, ACORN, and tax payers money.



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How about with the Health Care law?

Obama Kick-Back Cronyism - Part 2: Illinois Health And Human Disservice

 

Obama, Michelle Obama, Valerie Jarrett, David Axlerod, Blagovich, Rezko, Dr. Eric Whitaker, Levine, Cellini, Kjellander, Margaret A. Davis and patient dumping.

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80% of "Green Energy" loans went to Obama's top donors

Wynton Hall says with Energy Secretary Steven Chu set to testify today before the House Energy and Commerce Committee about the government's $573 million loan to failed solar panel maker Solyndra, an explosive new list of energy loan amounts to Barack Obama’s top fundraisers, bundlers, and supporters has been released by Breitbart editor Peter Schweizer, author of Throw Them All Out.
 
As the list reveals, 80 percent of all $20.5 billion in Department of Energy loans went to Obama’s top donors.  Furthermore, some of those dwarf in size those given to Obama bundler George Kaiser, owner of the now defunct Solyndra.
 
The list -- which features the likes of Google owners Larry Page and Sergey Brinn, Robert F. Kennedy Jr., Ted Turner, John Doerr, and Al Gore -- raises new questions about the procedures used to administer the now-controversial DoE loans.

Obama Bundlers_ Large Donors_ and Supporters fixed pdf

Schweizer’s list stands in sharp contrast to Barack Obama’s promise that the allocation of all federal "stimulus" monies would be nonpartisan and fair: "Let me repeat that: Decisions about how Recovery money will be spent will be based on the merits. They will not be made as a way of doing favors for lobbyists," Obama said in 2009.
 
But as Schweizer’s charges in his book, the Obama Administration may be guilty of "the greatest -- and most expensive -- example of crony capitalism in American history."


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Beckwith

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Obama’s Half-Billion-Dollar Crony Drug Deal
  

Michelle Malkin asks, what do you get when you mix Democratic fat-cat donations, Big Labor favors, pharmaceutical lobbying and Beltway business as usual?  Answer: another toxic half-billion-dollar Barack Obama-approved crony deal. Move over, Solyndra. Here comes Siga-Gate.

 

This latest Chicago-style payoff on your dime involves a dubious smallpox drug backed by a liberal billionaire investor, along with a former union boss who was one of the White House’s most frequent visitors.  They’re the "1 percent" with 100 percent immunity from the selectively outraged Occupier mobs that purport to oppose partisan government bailouts and handouts to privileged corporations.

 

Ronald Perelman is the New York City-based leveraged buyout wheeler-dealer who controls Siga Technologies.  He has donated nearly $130,000 mostly to Democrats over the past two election cycles alone (history here), and he forked over $50,000 to pay for the president’s lavish inaugural parties.  A Siga affiliate (MacAndrews and Forbes) pitched in nearly half a million more in contributions -- 65 percent of which went to Democrats -- and the firms have spent millions on lobbying.

Perelman’s pharma company makes an experimental antiviral pill used by smallpox patients who received diagnoses too late to be treated with the existing smallpox vaccine.  Smallpox experts cast doubt on the need for the drug given ample vaccine stockpiles, the remoteness of a mass attack and questions about its efficacy.  But over the objections of federal contract negotiators, competitors and scientists, the Obama administration approved a lucrative $433 million no-bid deal for Siga in May.  No other manufacturers were able to compete for the "sole source" procurement, according to the Los Angeles Times.

The special arrangement was made after a competitor objected to the administration’s violating small-business rules during a first call for bids.  That’s right: It’s yet another rigged giveaway from a Hope-and-Change champion who vowed on the 2008 campaign trail to "end the abuse of no-bid contracts once and for all."

 

Intensifying the culture-of-corruption stench: the critical role of Andy Stern.  He’s the profligate, corruption-coddling former head of the powerful Service Employees International Union -- the 2.2 million-member public-employee union powerhouse that he left in April 2010 with a mountain of debt and eroding rank-and-file pensions (and looming FBI investigation).

After pouring some $60 million of workers’ dues into Democratic coffers, Stern was rewarded by Obama with a cozy spot on the White House deficit panel and dozens of visits to 1600 Pennsylvania Avenue -- including at least seven with Barack Obama, one with Vice President Joe Biden, and meetings with Obama Chief of Staff Rahm Emanuel, Biden Chief of Staff Ron Klain, OMB Director Peter Orszag, health czar aide Jennifer Cannistra and Valerie Jarrett’s former high-powered aide and Chicago fundraiser Tina Tchen.

In a classic access-buying maneuver, Siga placed Stern on its board of directors in June 2010.  Four months later, Siga nabbed an estimated $3 billion contract.  By January of this year, Siga’s stock had skyrocketed.  The House GOP has been investigating the deal for months, which comes amid separate allegations of insider trading and political profiteering by investigative journalist Peter Schweizer.

Stern and Perelman have been scratching each other’s backs for years.  In the fall of 2006, the SEIU backed off organizing protests against AlliedBarton, a security guard firm in Philadelphia owned by a Perelman interest -- and then remained quiet when the firm was bought out by a longtime SEIU nemesis, the Blackstone Group.

 

According to the L.A. Times, which exposed the scandal over the weekend, Obama’s top biodefense bureaucrat Nicole Lurie railroaded a key dissenter at the Department of Health and Human Services who ridiculed Siga’s inflated projected profit margins.  Lurie soothingly reassured a whiny Siga executive that the "most senior procurement official" would take over and mollified him in a letter: "I trust this will be satisfactory to you."

Lurie falsely told the newspaper that she had never made contact with the official regarding the contract and deemed any such contact improper.  When caught with documentation, her department spun the communication with Siga as a "national security" matter.  Lurie, it should be noted, is a former Clintonite and Howard Dean health care consultant who was most recently in the headlines for pushing anthrax vaccine testing for children.  According to the Labor Union Report, there have been market murmurs of a merger between Siga and the anthrax vaccine manufacturer, PharmAthene.  Hard to trust Lurie’s public health moral authority with the taint of pay-for-play wafting over the Siga deal.

As always, venture socialism backed by Big Labor muscle and White House wealth redistribution is hazardous to taxpayers’ health.

 


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Just another coincidence

 

Joel Gehrke is reporting that Abound Solar, given a $400 million Department of Energy (DOE) loan guarantee for a project expected to create 400 permanent jobs, received private financial backing through an investment firm founded by a fundraising bundler for Barack Obama.

The Sunlight Foundation notes that Bohemian Companies, which was founded by billionaire and Obama bundler Pat Stryker, participated with other companies in the "second institutional equity round of financing" in 2008 for Abound Solar, which recieved $104 million total through that round of financing.

Stryker gave $50,000 to Obama's inauguration, according to the Center for Responsive Politics, and raised a further $87,000 for the inauguration. Stryker has since donated $35,800 to the 2012 Obama Victory Fund, Sunlight reports.

One year after Bohemian invested in Abound, and a year before the DOE granted a loan guarantee, Stryker visited the White House. "The White House did not confirm that the visitor was the Pat Stryker in question and did not provide details about the meeting," Sunlight says.

When the White House Press Secretary Jay Carney was asked about meetings with George Kaiser (an Obama bundler and financer for Solyndra,which also received a DOE loan guarantee), he indicated that no discussions of the loan program ever took place.

Recently-released emails from Kaiser show that he did discuss Solyndra with White House officials, despite earlier denials.

You can read more about Abound Solar here.
  


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Stimulus-Backed Solar Company Lays Off 70 Percent of Workforce

President Obama used a weekly address in July 2010 to tout his stimulus package’s support for the solar industry. One of the companies he mentioned specifically, Abound Solar, just announced that it will lay off 70 percent of its workforce.

Abound would “creat[e] more than 2,000 construction jobs and 1,500 permanent jobs,” Obama claimed, and would be integral to the administration’s quest to “create whole new industries and hundreds of thousands of new jobs in America.”

But a year and a half later, the company’s staff numbers only 120. It announced Tuesday that it would lay off 180 full time and 100 part time employees, halt solar panel production, and delay the construction of a manufacturing plant in Indiana

Abound received a $400 million loan guarantee under the Energy Department’s Section 1705 renewable energy loan program, which also gave a $535 million guarantee to now-bankrupt Solyndra. Abound has drawn $70 million of its loan guarantee, and won’t be able to draw any more until it resumes production.

Steve Abely, the company’s chief financial officer, rejected comparisons between Abound and Solyndra. “Solyndra cells were never cost competitive,” he insisted. “We are competitive.”

See the first bundler on the list above?


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Claudia

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the ties are really showing who Obama is/was loyal too, aren't they??  SICKENING and so complicit AGAINST THE AMERICAN PEOPLE.....

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$400 million donation means $400 million loan guarantee. Such simple math.
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The only thing transparent about obama and his administration is his Chicago style politics/ pay to play.  I wonder how much $$$ he is going to collect from the stealth muslim brotherhood Super Pac this time around ???

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Another Obama solar company goes bankrupt

The Conservative Byte reports taxpayers lose $2 billion.
 
A California solar energy company that was unable to meet a deadline for an Energy Department loan guarantee last year has sought bankruptcy protection in Delaware.

Solar Trust of America’s Chapter 11 filing on Monday listed assets between $1 million and $10 million, and liabilities between $50 million and $100 million.

The filing comes amid the ongoing controversy surrounding Solyndra, a solar firm that received a half-billion dollar federal loan and was touted by the Obama administration before declaring bankruptcy last year.

Interior Secretary Ken Salazar and California Gov. Jerry Brown were on hand last June when Solar Trust broke ground on a 1,000-megawatt project in California. The project was touted as the world’s largest solar power plant and a keystone of the Obama administration’s efforts to promote solar energy.


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Obama Bundler’s Husband Awarded Over $1 Billion in DOE Guaranteed Loans- NRG Solar

The husband of one of Barack Obama’s top bundlers has received $1.2 billion in federal loan guarantees from the Obama Administration.
The Free Beacon reported:

New disclosures show that one of President Obama’s bundlers is the wife of an executive at an energy company that received a more-than-$1.2 billion Department of Energy (DOE) loan guarantee for a solar power plant.

Arvia Few is a bundler for the Obama re-election campaign who has promised to raise between $50,000 and $100,000. She began bundling for Obama in the first quarter of 2012. Her husband, Jason Few, is an executive at a company that has benefited handsomely from the Obama administration’s clean energy spending, records show.

The U.S. Department of Energy granted NRG Solar a $1.237-billion loan in September 2011 to help build NRG’s California Valley Solar Ranch, which is described as “a 250 MW alternating current PV solar generating facility” by the U.S. Department of Energy.

Few became senior vice president of Houston-based Reliant Energy in 2008. He was named President of Reliant in May 2009 when NRG Energy acquired Reliant for $287.5 million. He currently serves as executive vice president and chief customer officer of NRG Energy.

“This investment and its outcome represent a pattern in which the Obama Department of Energy took promises of technological development with an undue amount of credence,” says energy expert Kenneth P. Green, a resident scholar at the American Enterprise Institute.


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"When governments fear the people, there is liberty. When the people fear the government, there is tyranny. The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government." Thomas Jefferson
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80% of Green energy loans went to Obama donors -- 19 companies went bust

Jim Hoft says 80% of Green Energy loans went to Obama donors.  The FOX News analyst says 70% in the video but actually 80% of DoE dollars went to Obama backers. 19 of these green energy companies went bust.
 
And, it’s expensive -- solar power is 35¢ per kilowatt compared to coal, gas and oil that costs 5¢ per kilowatt.

Here’s a list of the green companies  that have gone belly-up since receiving Obama dollars.
Heritage reported:

For those who only hear about these failing companies one by one, the following is a list of all the clean energy companies supported by Barack Obama’s stimulus that are now failing or have filed for bankruptcy. The liberal media hopes you’ve forgotten about all of them except Solyndra, but we haven’t.

Evergreen Solar
SpectraWatt
Solyndra (received $535 million)
Beacon Power (received $43 million)
AES’ subsidiary Eastern Energy
Nevada Geothermal (received $98.5 million)
SunPower (received $1.5 billion)
First Solar (received $1.46 billion)
Babcock & Brown (an Australian company which received $178 million)
Ener1 (subsidiary EnerDel received $118.5 million)
Amonix (received 5.9 million)
The National Renewable Energy Lab
Fisker Automotive
Abound Solar (received $400 million)
Chevy Volt (taxpayers basically own GM)
Solar Trust of America
A123 Systems (received $279 million)
Willard & Kelsey Solar Group (received $6 million)
Johnson Controls (received $299 million)
Schneider Electric (received $86 million)

That’s 19 (that we know of so far). We also know that loans went to foreign clean energy companies (Fisker sent money to their overseas plant to develop an electric car), and that 80% of these loans went to President Obama’s campaign donors.

 


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Obama Energy Department awards $2 million grant to solar company linked with Van Jones

Hal Libby is reporting that on Wednesday the Department of Energy began financing solar power installation research with a $2 million award to Solar Mosaic. The solar energy research company has former Obama “green jobs” czar Van Jones listed as an advisor. It also employed Rebuild the Dream, Jones’ firm, to do its public relations work.

The DOE’s grant money will be distributed to nine companies in four states. Solar Mosaic received the most money, four times the amount of most other grants.

Jones resigned his post in the Obama administration three years ago amid controversy stemming from his Communist past and outrageous comments.

Before working in the Obama White House, Jones signed a petition alleging officials in the George W. Bush administration “may indeed have deliberately allowed 9/11 to happen, perhaps as a pretext for war.”

Jones later made crude remarks about Republicans in a public speech and expressed support for Mumia-Abu Jamal, a death row inmate convicted of killing a Philadelphia police officer.

It’s unclear whether the Department of Energy knew of Jones’ position at Solar Mosaic. Agency spokeswoman Jen Strutsman told The Daily Caller that grantmaking was “decided solely on the merits of the project, assessed by career civil servants.”

“Each of the awards … was selected because of its technology and the project’s potential to reduce the cost of solar energy for American families and businesses,” she added.

Van Jones did not respond to requests for comment.


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Lights go dim on another energy project

Chuck Neubauer is reporting that a geothermal energy company with a $98.5 million loan guarantee from the Obama administration for an alternative energy project in Nevada -- which received hearty endorsements from Energy Secretary Steven Chu and Senate Majority Leader Harry Reid -- faces financial problems, and the company’s auditors have questioned whether it can stay in business.

Much like Solyndra LLC, a California solar-panel manufacturer with a $535 million federal loan guarantee that went bankrupt, Nevada Geothermal Power (NGP) has incurred $98 million in net losses over the past several years, has substantial debts and does not generate enough cash from its current operations after debt-service costs, an internal audit said.

"The company’s ability to continue as a going concern is dependent on its available cash and its ability to continue to raise funds to support corporate operations and the development of other properties," NGP auditors said in a financial statement for the period ending March 31.

"Consequently, material uncertainties exist which cast significant doubt upon the company’s ability to continue as a going concern," the statement said.

Mr. Reid, a Nevada Democrat who led passage of the $814 billion stimulus bill and worked to include the loan guarantee program to help finance clean-energy projects, predicted in 2010 that NGP would "put Nevadans to work" and declared that Nevada was the "Saudi Arabia of geothermal energy."

Mr. Chu celebrated NGP’s potential in his June 2010 announcement of the loan guarantee, saying the federal government’s support of the company demonstrated its commitment to geothermal power to achieve the nation’s clean-energy goals.

But Rep. Jim Jordan, Ohio Republican and chairman of the House Oversight and Government Reform subcommittee on regulatory affairs, stimulus oversight and government spending, is concerned about NGP’s finances and the timing of the loan guarantee.

"The company was in danger of defaulting on its financial obligation, and the [Department of Energy‘s] assistance served as a de facto bailout," Mr. Jordan said. "After receiving a taxpayer-backed $98.5 million loan guarantee, the company is still struggling."

He said the loan guarantee "essentially served to prop up an already-faltering firm."

In January, Rep. Darrell E. Issa, California Republican andchairman of the House Oversight and Government Reform Committee, told Mr. Chu that the NGP loan guarantee raised questions about why the Energy Department was investing significant taxpayer resources in a company with well-established financial problems.

At the time the Energy Department announced its conditional approval of the guarantee, Mr. Issa said NGP would have defaulted on a loan from TCW Asset Management Co., then its primary lender, "had DOE not swooped in to save the failing company with taxpayer money."

A committee report said the loan did not finance any new construction and "did not help to create a single job."

Continue reading here . . .


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French Solar Company Wins $25 million Contract After Posting Losses of $70 Million

The Department of Energy recently awarded a $25 million contract to a French company that just reported losses of $70 million.

Heritage Blog
reported:

The Department of Energy recently awarded $25 million to a French company that posted net losses of about $70 million last year, and whose solar division is particularly troubled financially.

As part of its Scaling Up Nascent PV At Home (SUNPATH) project, DOE’s Energy Efficiency and Renewable Energy (EERE) division announced three awards in June to promote high-volume solar energy production.

The largest of the three awards, totaling $25 million, went to Soitec Solar, a French company, to build a solar production facility in San Diego, CA. While Soitec is not in dire financial straits like some other DOE-backed companies, it posted hefty losses during its last financial year, which ended March 31. A number of its major financial indicators were worse than the prior financial year.

According to a company report, Soitec posted a gross profit of $63.1 million, down from $82.9 million the year before; operating losses of $57.3 million, down from an operating profit of $2.3 million the year before; and a net loss of $70.5 million, up from $22.4 the year before (all dollar amounts are converted from euros).

The company’s solar division was also deeply in the red. It posted operating losses of $56.2 million in the financial year that ended in March, up from an operating loss of $31.2 million the year before. Its gross profits were -244% of its sales for that year, meaning it lost about $2.44 for every dollar in sales it took in.

Soitec is deeply in the red.
Soitec Financial Report


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Claudia

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I'm sorry, but can anyone tell me why WE THE TAXPAYERS are investing in a FOREIGN COMPANY???  Do they even have a plant in America that they are not building in San Diego, CA......  And why can't that company keep its money when it makes it?  Obviously they don't have a very good model business system if it costs them soo much more than they make, and why doesn't it have INVESTORS that are from France and or even good old capitalistic Investors from America funding it in PRIVATE?  At any rate, I don't think it is up to the TAXPAYERS to fund something that they don't even know anything about, and that same feeling goes to every other company that gets government monies, (and really have no intention of ever paying it back, but rather their intention is to FILE BANKRUPTCY at the first possible minute when the spotlight is off of them) without us knowing it from the Pres and his buddies. 

I think that every single dime of expenditure, no matter what it is for or where it is going, should have to be approved by WE THE PEOPLE or the expenditure is not granted.  That includes grants, loans, funding that comes under any other name for green expenses, funding to people who are opposing other regimes in different countries, good will expenses and EVERYTHING THAT GOES TO SOME OTHER INTERGOVERNMENTAL DEPARTMENT IN ANY FORM of the Government.  NO MATTER WHAT, and if that causes heartburn to anyone, too bad, it is our money and we should be the ones determining where it is spent.........

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Seriously,
This is probably the best thread on the Internet.
The real truth is that Obama and his Obots are the "cats paw" to convince well-meaning stupid people to destroy our Constitutional Republic.
And it is working.
Destroy the economy and blame it on the people that actually make an economy?
Give the power to a bunch of over-educated and totally inexperienced Marxist wienies?
The GOP is a failure.
The SCOTUS is "whatever"?

They are a bunch of crooks, raping the Fed, screwing the taxpayers, and selling the young people into eternal tax-slavery.  Probably socialist real slavery.

Secession is the only answer to even GET THE ATTENTION of the Beltway Buffoons.

Sorry to say it. But what else can we do?

MOLON LABE!

Longknife 21
beadaniel

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The reason he is giving money to a French company is to gain campaign money--he is in France seeking contributions.  Somehow i thought campaign contributions from foreign sources was illegal, but guess the crooks in DC know how to work it into the system.
Beckwith

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Friends of Obama allowed to opt out

Lurita Doan is reporting that Emigrant Bank was recently identified to receive a waiver that would allow the bank to opt out of rigorous Dodd-Frank requirements. These of course are the same new rules and regulations that Barack deems essential to the nation. Yet when the bank’s owner, Howard Milstein, who is a close friend and was a bundler for President Barack Obama’s 2008 campaign, protested that the new rules would seriously crimp operations of his bank, the Obama Administration worked with members of congress to grant him a waiver from the new rules.

Other financial institutions and banks have consistently and vehemently argued that the Dodd-Frank Legislation that Obama championed is seriously flawed and will bring a raft of unintended consequence--but they were not friends of Barack Obama. These many other banks and institutions are not deemed worthy of a waiver.

Sadly, the case of Emigrant Bank is not the only example of the Obama Administration’s mercurial application of our nation’s laws. There is the obvious case, now being decided by the Supreme Court, of Obamacare, in which some (Nebraska´s Cornhusker’s Kickback or Louisiana’s Purchase) are allowed full exemption from the law’s requirements. What those who are exempted have in common is that, once again, friends of Obama can expect special exemptions from the rules and laws that others must follow.

There seem to be two sets of rules. The special, privileged class of people and businesses (Friends of Obama -FOO) can expect to be granted unique waivers, carve outs and shameful side deals designed to escape, to dodge, and to be exempted from much of the overreaching, poorly conceived legislation and administrative orders that Obama’s White House pushes with utter conviction on the rest of the nation.

On the other hand, if an organization, such as the Catholic Church, that is not a FOO, seeks a principled exemption to an emerging national policy, the organization is ridiculed, dismissed, and ignored.

This disgraceful double standard is becoming a standard practice in the Obama Administration.

Want more examples? Arne Duncan has recently allowed some 10 states to have exemptions from No Child Left Behind. No doubt the Teachers’ Unions in these states, critical to Obama’s reelection, were keen to ditch the pesky requirements for improved accountability. How much easier to call up friend in the White House and demand an exemption from rules and regulations that are not popular with Union members!

Consider too, the case of government-backed loans to Solyndra. Typically, in a government-backed loan, the government’s is the first debt that must be settled. But if one is a FOO, the rules are different. In that kind of situation, the debt to the federal government (read American taxpayer) is subrogated to that of a friend of Obama—not only friend, but, one of his largest campaign contributors. Other organizations and companies cannot expect similar sweetheart deals--they are not FOO.

Consider also, the case of the revolving door. The law for the Standards of Ethical Conduct for Employees of the Executive Branch, is very clear. The statute mandates a two year ban on any kind of direct involvement with a previous employer, client or co-worker. Unless, it seems, if one is a FOO. In that case, the rules are different, which seems to have exempted Craig Becker, former counsel for the Service employees International Union (SEIU) who, through an Obama Administration recess appointment, served as a member of the National Labor Relations Board (NLRB) and who moved directly from there to his current position serving as general counsel to the AFL-CIO.

No time off or recusal needed for FOOs.

What does it mean for the country that the Obama Administration spends so much time exempting certain privileged individuals and businesses from the law?

Under Obama, will the United States devolve into a nation where laws are negotiable and will be applied differently for different people, as long as they belong to a special interest group that wants to opt out of the law and that also happens to be a friend of the president?

Our nation could once proudly boast of our national adherence to the Rule of Law. Every American should expect and demand equal treatment under the law, and special friends of the president should not expect or apply a different set of laws for themselves.

But, Barack Obama doesn’t seem to understand this basic principle that governs our nation, and , instead, seems to think that laws are flexible and the rules apply to others. (“Others” means anyone who is not a Friend of Obama-FOO).

Somewhere inside the White House, it is likely that yet another czar is employed to process the many requests for special treatment and waivers from the many new rules and regulations that Barack Obama has inflicted on the rest of the nation.

FOO have learned to expect special exemptions. The unlucky others are not only expected to follow those same rules, but to do so knowing full well that other, more connected FOO are escaping the burdensome new costs, and can avoid the intrusive requirements.

What a deal.


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"I have $134 billion that I have to disperse between now and the end of December"

Michael Hastings is reporting that the Republican National Committee is continuing its counterattack on Barack Obama, releasing emails and videos to bolster Romney's recent claims that the White House's efforts to invest in "green energy" amounted to a form of "crony capitalism."

In one email, Steve Westly, an Obama fundraiser whose company received close to a half billion dollars in green energy funds in 2009, cites his ties to senior Obama advisor Valerie Jarrett, campaign manager Jim Messina, and secretary of energy Steven Chu.

"Please forgive the delay on this, but the Administration has asked me to co-host events for Valeria[sic] Jarrett (last Thursday) and Jim Messina and Steven Chu (both of which are tomorrow) so things have been a bit busy on this end," he wrote to an Obama energy official in an email on March 8, 2010.

(The email exchanges can be found here.)

Westly sent the email during his vetting process to sit on the Secretary of Energy Advisory Board, a position he still holds, according to his online bio at the Westly Group.

The appointment was announced about one year after Westly's companies received the energy funds.

Other information in the emails regarding possible conflicts of interest have been redacted.

Westly's connections were first questioned last year in a joint investigation between the Center for Public Integrity and ABC News, which listed several other Obama donors whose companies received money from the program.

Another video, unearthed by the RNC -- which is seeking to blunt a searing Democratic attack on Republican Mitt Romney's time at the help of Bain Capital -- offers a sense of how venture capitalists who supported Obama viewed the green money.

In a video appearance from 2009, venture capitalist Paul Holland -- who had given the maximum legal contribution to Obama, and whose companies received over 6 million in government dollars -- described his feelings when heard about the billions up for grabs.

"He came in to do his talk and opened his talk with, ‘I’m Matt Rogers I am the Special Assistant to the Secretary of Energy and I have $134 billion that I have to disperse between now and the end of December,’" Holland told the audience. "So upon hearing that I sent an email to my partners that said Matt Rogers is about to get treated like a hooker dropped into a prison exercise yard."

Holland continued: "And I had the lack of judgment to go up and share that with him and the other people who were all standing around him...Fortunately for me they all laughed and thought it was funny.”

The administration has consistently denied charges of impropriety with the energy funds, while the Obama campaign has suggested it's Romney's attempts to change the story line from his business record at Bain Capital, and his refusal to release more than two years worth of tax returns.


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In August 2010 Obama praised success of solar giant Amonix -- this week it went bust

Jim Hoft says in August 2010 Barack Obama praised the success of Amonix solar manufacturing plant.  The Obama Administration dumped more than $20 million in federal tax credits and grants on the green energy giant.

Barack Obama spoke about the economy at the University of Nevada Las Vegas in August 2010.  In his address, Obama described Amonix as a “success story”.
 
This week it went bust.

The Las Vegas Journal Review reported:

The Amonix solar manufacturing plant in North Las Vegas, subsidized by more than $20 million in federal tax credits and grants has closed its 214,000-square-foot facility about a year after it opened.
 
Officials at Amonix headquarters in Seal Beach, Calif., have not responded to repeated calls for comment this week, but the company began selling equipment, from automated tooling systems to robotic welding cells, in an online auction Wednesday.
 
A designer and manufacturer of concentrated photovoltaic solar power systems, Amonix received $6 million in federal tax credits for the North Las Vegas plant and a $15.6 million grant from the U.S. Department of Energy in 2007 for research and development.
 
Rene Kenerly, a former material and supply manager at Amonix, said the plant has been idle since May 1, when he was laid off. At its peak, the plant had about 700 employees working three shifts a day to produce solar panels for a utility in Amarosa, Colo., he said.

Just last week David G. Frantz, Acting Executive Director of the Loan Program Office for the U.S. Department of Energy, called the DOE Loan Guarantee program an “enormous success.”With the demise of Amonix there have now been 20 clean energy companies supported by Obama’s stimulus that are failing or have filed for bankruptcy costing billions of dollars.

And you’re stuck with the bill.


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Reply with quote  #22 
shows how great "Green Energy" is,  creates a lot of energy when it is first opened and then NOTHING AFTER.....  can't sustain itself on the products it produces.......
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Obama repays donors in tax dollars

Reince Priebus says the Obama administration regularly congratulates itself for being the “most transparent administration ever.” The “most transparently political administration” would be more like it.

Barack Obama, since taking officer, has showered his donors and allies with billions in federal dollars. A steady stream of grants and loans flows from the administration to Obama’s political cronies. And taxpayers foot the bill.

Energy investor Steve Westly is one such fundraiser who benefited royally. He bundled more than a half-million dollars for Obama’s 2008 campaign. Westly later won an appointment to the energy secretary’s advisory board. He chaired a board subcommittee on energy efficient building materials.

Conveniently, Westly’s investment firm invested heavily in firms that specialized in such products. Overall, Westly’s firms received more than $500 million from the Obama administration. That’s an awful lot of conflicts of interest for just one man.

Westly is not the only Obama fundraiser to be rewarded with plum appointments, insider access and taxpayer dollars. A 2011 investigation found that nearly 200 of Obama’s biggest political donors received jobs, advisory posts or federal contracts. The Washington Post reported earlier this year, “$3.9 billion in federal grants and financing flowed to 21 companies backed by firms with connections to five Obama administration staffers and advisers.”

Crony capitalism is common practice in the Obama administration. Solyndra was backed by an Obama donor and fundraiser and then received a half-billion dollar taxpayer loan. The company went bankrupt, had to lay off 1,800 workers and shut its doors.

Obama treats taxpayer money as his personal piggy bank — using government checks as multimillion-dollar thank you notes to campaign donors. Taxpayers get nothing in return. Factories close. Jobs go overseas. The unemployment rate remains painfully high. Government debt stands at over $15.8 trillion.

Obama’s allies win. American workers lose.

Americans expect Obama to do the people’s business, to put the country’s interests before personal interests. But when billions of dollars are squandered for the benefit of a privileged few, Obama is certainly not fulfilling his duty.

In 2008, Obama promised voters to “fundamentally change the way Washington works.” Most voters thought this meant a more ethical, honest, transparent administration. In reality, that “change” meant bringing Chicago-style pay-for-play politics to the White House.

After Westly received his Energy Department appointment, his firm’s Website bragged that the company was “uniquely positioned to take advantage” of the billions in subsidies being offered by the Obama administration. Of course they were. They bought themselves a place in the Obama administration.

It paid off. Companies backed by Westly were successful in winning government grants and loans. Overall, 90 percent of companies applying for funding from two highly competitive stimulus-funded loan programs were rejected. Yet those programs awarded funding to not one, not two, but three Westly-backed ventures.

At a time when many Americans can barely make ends meet, and the federal government is spending far more than it takes in, such fiscal insanity is disastrous. It’s insulting and offensive to taxpayers.

Obama has expressed no hint of remorse for the way he has treated taxpayer dollars, or the debt he has left the next generation. If he wins a second term, we can expect more of the same — more crony capitalism.

Who knows what donors will be “uniquely positioned to take advantage” of taxpayers then.


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This has been a huge scam!  When the Repubs take over there needs to be a major Congressional investigation and where malfeasance is found it should be prosecuted and the guilty parties held responsible to make restitution.
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Obama’s Energy Secretary tipped off a donor about investments

Mytheos Holt is reporting that The RNC has released a new ad today blasting Barack Obama for potential cronyism. And unlike with so many recent political ads, this one’s charge looks like it may stick a bit. Watch the ad below before proceeding with the story.

The ad charges, in brief, that Steve Westly, of Westly Group Investments, donated $500,000 to the Obama campaign in 2008, only to get back a $500 million return on his investments through government subsidies. The implication, made without very much subtlety at all, is that Westly is a crony of the administration who paid money for political influence.

And indeed, there may be a paper trail to substantiate that charge. Politico reports:

Republicans have long alleged that Westly’s campaign fundraising prowess garnered him preferential treatment in the form of federal money for companies backed by his firm, the Westly Group, and direct access to top White House officials. But the White House and the Obama campaign have strongly denied the allegations, dismissing them as a political stunt.

Westly’s name also came up in the Solyndra investigation: Emails showed he had warned White House senior adviser Valerie Jarrett in May 2010 about Obama’s upcoming visit to the California solar company, a year before it filed for bankruptcy.

“Will the White House release all communications between Steven Chu and Steve Westly between inauguration day and the distribution of stimulus funds to Westly-backed companies?” the RNC asked in a memo to White House press secretary Jay Carney and Obama campaign spokeswoman Jen Psaki. “Will they release a transcript of advisory board meetings with Chu and Westly?”

To no one’s surprise, Westly’s spokesperson, Joel Berman, has denied any wrongdoing. From the Washington Post’s fact check of the ad:

“Westly never contacted DOE or the White House regarding loan or grant applications for Westly Group portfolio companies,” Berman said. “There is no evidence to suggest a connection between Mr. Westly’s roles as an investor, member of SEAB, and as a supporter of President Obama.”

The Washington Times apparently wasn’t going to take this assertion lying down however, so they cornered no less an eminence than Energy Secretary Steven Chu. However, as you’ll see from the video below, they were stonewalled:

Now, while this behavior is suspicious, it’s hardly conclusive. Readers are urged to proceed with caution. However, seeing as the Washingotn Post fact-checkers (mentioned above) gave the ad only One Pinocchio, it does not appear that the RNC is chasing ghosts.


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