"Green" Crony Capitalism

#30
#30
This thing is getting worse and worse very quickly. Emails showing up from WH pressuring the loan and corresponding emails from OMB and others saying they felt pressured.

Lots of evidence that people knew it was a bad deal.

This is going to be a major problem for the administration.
 
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#31
#31
The PR for the administration just might wind up costing them more than the 500 mil up front cost.
 
#33
#33
09202011ram.jpg


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footshooter.jpg
 
#34
#34
wasn't sure what Solyndra thread to put this in but I like this thread title. This is just the gift that keeps on giving huh?

Ex-Solyndra Staff To Get $13,000 Each In TAA Federal Aid

That means all of the firm’s 1,100 ex-employees are eligible for federal aid packages, including job retraining and income assistance. The department has valued packages at about $13,000 a head.

Taxpayers will have to cough up yet another $14.3 million as a result of Solyndra’s bankruptcy. They are already on the hook for $528 million in federal loan guarantees to the company that are unlikely to ever be paid back.
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#37
#37
It was Palin who coined the phrase 'crony capitalism.'

How right she was.

We missed a great chance to draft her to be president.

How unfortunate that so many ignorant morons labeled
her a 'quiter' etc.

Obama’s Pals Received Billions from the Department of Energy Loan Program | Flopping Aces

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.
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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.”
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obamacorrupt.jpg


Next up in the parade of corruption appears to be the Siga contract scandal, were (D) donor Ron Perelman looks to be securing quite a return on his donations. See Siga contract process raises questions
 
#40
#40
KiffinKiller said:
By missed our chance, you meant successfully missed it, correct?
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No, actually a major fail.

There are administrations that could be said to be
tainted with corruption.

This administration is completely corrupt to the core and
as the facts come out it only gets worse and worse.






therealUT said:
Interestingly, it has been a concept that socialists have railed against since Das Kapital...
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Did they say anything about 'death panels' is das kapital?

Palin was roundly criticized for using the term 'death
panels.'

It turns out she knew what she was talikng about.

Palin was referring to The Independent Payment
Advisory Board.

Read on:

“They don’t call them patients, they call them units” | Wizbang

So if you are a 70 year-old Nancy Pelosi, or Paul
Krugman — with a potent private health insurance
plan such as the one enjoyed by Members of Congress
and other bureaucrats — you will get every appropriate
surgery and treatment applicable.

But if you are a 70 year-old former bookkeeper or
waitress on Medicare, well — you have swung your last
golfclub or danced your last waltz, because the “ethics
panel” that assesses your unithood will have no problem
inventing a equation that goes something like, “Potential
-Tax-revenues-minus-potential-cost-divided-by-social-
and-political-value-equals…a negligible unit.
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#44
#44
time to revive an old thread.

Solyndra stories won't go away.

[youtube]http://www.youtube.com/watch?v=4o9t9ERNBYU&feature=related[/youtube]


destroying millions of dollars worth of specialized glass tubes from a German company that's owed $8 million

gee thanks team Obama and your headlong rush into the fantasy world of "green jobs"
 
#45
#45
MG1968 said:
time to revive an old thread.

Solyndra stories won't go away.

[youtube]http://www.youtube.com/watch?v=4o9t9ERNBYU&feature=related[/youtube]


destroying millions of dollars worth of specialized glass tubes from a German company that's owed $8 million

gee thanks team Obama and your headlong rush into the fantasy world of "green jobs"
Click to expand...

As they shouldn't. I think this is much more newsworthy than, say, the Lewinsky sex scandal. The lack of attention is laughable.
 
#46
#46
Kansas City Southern Railway Company (KCSR) has taken out a $54.6 million Federal Railroad Administration-administered Railroad Rehabilitation and Improvement Financing (RRIF) Program loan to purchase 30 new General Electric ES44AC diesel-electric locomotives. These Evolution Series locomotives, to be built in GE’s Erie, Pa., plant, “will help KCSR meet increasing economic demand, and are more energy-efficient and produce significantly less carbon emissions than the locomotives they are replacing,” FRA said.

RRIF loan will finance 30 KCSR locomotives

As everyone knows, GE is a 200 billion dollar company that pays no taxes and its terrible CEO is best buds with Obama.

KSU is an almost 8 billion dollar company that would have no problem obtaining 55 million in an equity offering if it wanted to (it's stock is up almost 33% in the past year).

Suck it taxpayers! Tax the rich, they are not paying their fair share!
 
#47
#47
vols4sure said:
Kansas City Southern Railway Company (KCSR) has taken out a $54.6 million Federal Railroad Administration-administered Railroad Rehabilitation and Improvement Financing (RRIF) Program loan to purchase 30 new General Electric ES44AC diesel-electric locomotives. These Evolution Series locomotives, to be built in GE’s Erie, Pa., plant, “will help KCSR meet increasing economic demand, and are more energy-efficient and produce significantly less carbon emissions than the locomotives they are replacing,” FRA said.

RRIF loan will finance 30 KCSR locomotives

As everyone knows, GE is a 200 billion dollar company that pays no taxes and its terrible CEO is best buds with Obama.

KSU is an almost 8 billion dollar company that would have no problem obtaining 55 million in an equity offering if it wanted to (it's stock is up almost 33% in the past year).

Suck it taxpayers! Tax the rich, they are not paying their fair share!
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They are getting a loan, you moron.
 
#50
#50
vols4sure said:
On favorable terms to buy GE trains you moron.
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Yeah, we don't want them buying trains that will be built in the USA.

I noticed you lefty off this little tidbit from the story:

“The RRIF program is a model of how we can leverage federal dollars to stimulate private investment and grow the economy,” said Federal Railroad Administrator Joseph C. Szabo. “The program provides steady, affordable financing for major rail construction and expansion projects.”

I imagine they get some kind of favorable rate on a loan, according to you they will have no problem paying it back by the way. And as a result 30 locomotives will be built in Erie.

I wonder what right wing blog you got this from, which probably, like you, omitted key facts that demonstrate the viability and strength of such a program.

Once again, the far right hatemongers take some minor story and try to twist it, facts be damned, to make it look awful. All while actively rooting for the economy to stall or get worse.

Pathetic.
 
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