Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Crony Capitalism on Steroids from GE to Solyndra
Sarah Palin's Facebook Notes ^ | 2011-09-14 | Sarah Palin

Posted on 09/14/2011 8:47:54 PM PDT by meadsjn

Crony Capitalism on Steroids from GE to Solyndra.

by Sarah Palin on Wednesday, September 14, 2011 at 9:25pm .

In my recent speech in Iowa, some eyebrows were raised when I took on our government’s enormous economic problems caused by crony capitalism. As if on cue, just days later President Obama selected someone who exemplifies a major crony capitalism problem to sit next to the First Lady when he delivered his “jobs plan” speech before Congress. He selected General Electric CEO Jeffrey Immelt as his honored guest.

Having grown up with great respect for GE thanks to stories my grandfather shared with us about his days working for the company and even meeting GE spokesman-at-the-time Ronald Reagan during a company event, I am saddened at GE’s leadership evolution. This corporation is now the poster child of corporate welfare and crony capitalism.

This icon of American industry is a company full of good employees who make some good products (and is the parent company of a huge media outlet), but GE is also a large American corporation that pays virtually no corporate income taxes despite earning worldwide profits of $14.2 billion last year, $5.1 billion of it in the United States. In fact, they claimed a tax benefit of $3.2 billion, meaning they received more of our hard earned tax dollars than they contributed. How is that possible? It’s because not only do they shelter their money from taxes, but they also get many tax credits, loans, government grants, and other benefits from the federal government that our smaller businesses couldn’t even imagine being able to profit from.

Joining GE in the pantheon on crony capitalism is another Obama favorite that has been in the news of late: Solyndra. The President hailed this “green energy” company in a speech last May as “the true engine of economic growth.” When he announced the $535 million guarantee to Solyndra, Vice President Biden said that investments like this are “exactly what the Recovery Act is all about.” (Dear God…If the failed Solyndra venture has been what it’s “all about,” then that explains a lot.) As I pointed out in my speech at the Reagan Ranch Center last February: “History has proven again and again, when government picks the winners and losers, we’re stuck with the losers, and we the taxpayers subsidize failure!” And that’s what we’re seeing now, as the FBI raids the solar energy company’s headquarters to glean more information after the company was handed half a billion dollars in “green energy” Stimulus funds from the American taxpayer only to later declare bankruptcy. More than one thousand Solyndra workers lost their jobs. Now as the truth comes out, we discover that the White House was heavily involved in the Department of Energy’s rushed decision to give the Stimulus funds to Solyndra, and they tried to move the money through so quickly they seem to have ignored concerns that the company was not viable. Why would they do this? Perhaps it’s because a large investor in the company (about 35%) is Obama campaign bundler George Kaiser. And with the way the deal is structured, Kaiser will get his debts paid before we the taxpayers see any relief. That is sickening. And that’s how it works: workers lose their jobs, wealthy political cronies stand a good chance of getting their money back, and the U.S. taxpayer gets the shaft. Again.

President Obama has his sights set on raising $1 billion for his reelection campaign. Raising that money won’t be easy. But if you can hand out other people’s money to friends, it must get a whole lot easier. This crony capitalism and government waste is at the heart of our economic problems. It will destroy us if we don’t root it out. It’s not just a Democrat problem or a Republican problem. It’s a problem of our permanent political class. This won’t stop until “we the people” say enough is enough, and we retire the permanent political class that votes for this.

- Sarah Palin


TOPICS: Business/Economy; Constitution/Conservatism; Crime/Corruption; Editorial; Government; Miscellaneous; News/Current Events; Politics/Elections
KEYWORDS: 2012; cronycapitalism; elections; obama; palin; perry; rickperry; sarah; sarahpalin
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-72 next last
To: 11th Commandment

I doubt it. If so, let’s have at it and see what happens.
Not much could be more pathetic than what we have now!


21 posted on 09/14/2011 9:21:47 PM PDT by acapesket
[ Post Reply | Private Reply | To 16 | View Replies]

To: Sarah-bot

These guys are pretty good.

http://www.propublica.org/article/setting-the-record-straight-on-ges-taxes/single


22 posted on 09/14/2011 9:21:59 PM PDT by magritte
[ Post Reply | Private Reply | To 14 | View Replies]

To: MestaMachine
Governor Palin has made the subtle connection between the way Obie does business and the way Perry does business in Texas. She may not bring back up the connection, but she damned sure isn't going to be walking it back either.
23 posted on 09/14/2011 9:22:59 PM PDT by gov_bean_ counter
[ Post Reply | Private Reply | To 15 | View Replies]

To: Travis McGee
Telsa concept is pretty cool. They are doing good stuff and from a cool geek perspective, it is exciting. But the business on the ground business model has problems. At $45K, this car is competing with luxury brands. Luxury cars fit a niche in the market, but the reality is the top selling 20 car models in the US are all affordable cars. The Luxury market is pretty crowded and especially the cross over brand Telsa is entering into. I wish them luck, but I would not invest in them.... oh wait I did... the US government guaranteed loan...
24 posted on 09/14/2011 9:24:46 PM PDT by 11th Commandment (http://www.thirty-thousand.org/)
[ Post Reply | Private Reply | To 5 | View Replies]

To: meadsjn

This is not crony capitalism or anything like it. This is just plain old theft. They knew this company was already in trouble, and they knew there were cheaper products out of China.

This is nothing more than Obama needing a buttload of campaign cash. That money went straight from the taxpayers pocket to Solyndra, and right back out into Obama’s pocket, not even counting the union dues he would get out of it. That’s why they rushed it through before Solyndra cratered further. That money spread out from Solyndra to people who can get it back to him ‘under the table.’ And by that I mean different PACs and filtered right on through.

Crony capitalism heretofore, was just using power and influence around...making sure to put in a good word at a bank for some friend’s loan, smoothing the wheels to make sure a contractor buddy’s bid gets accepted, or greasing wheels of government red tape for developer pal. Usually legitimate deals, but sliding on the outer edge of ethics.

This thing that Obama did is just pure thievery. That company did not go through $535 million dollars in two years? That’s half a billion dollars. No way!


25 posted on 09/14/2011 9:30:46 PM PDT by RowdyFFC
[ Post Reply | Private Reply | To 1 | View Replies]

To: meadsjn

Dear Sarah,

GET IN NOW !!!


26 posted on 09/14/2011 9:33:30 PM PDT by alstewartfan ("And your oarsman stands with his knife in hand, and his eyes spell 'Mutiny'" Al Stewart)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MestaMachine

I didn’t trash Palin. I asked why she didn’t follow up on her charge against Perry.

Guess what? She didn’t even mention Perry in her “crony capitalism” post tonight.

Why didn’t she mention Rick Perry today after sliming him on Monday? Seems as if people like you bought her attack; why won’t she continue it?


27 posted on 09/14/2011 9:33:39 PM PDT by Carling (DeMint to Obama: I want to read the bill, not listen to talking points off a TelePrompter.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: 11th Commandment

No way, no how will Gov. Palin go 3rd Party! She blows up the corruption from within, not from without. Bob


28 posted on 09/14/2011 9:35:55 PM PDT by alstewartfan ("And your oarsman stands with his knife in hand, and his eyes spell 'Mutiny'" Al Stewart)
[ Post Reply | Private Reply | To 16 | View Replies]

To: Carling

Why sound like a broken record? Gov. Palin has already made her point about Perry’s administration clearly.


29 posted on 09/14/2011 9:37:42 PM PDT by alstewartfan ("And your oarsman stands with his knife in hand, and his eyes spell 'Mutiny'" Al Stewart)
[ Post Reply | Private Reply | To 27 | View Replies]

To: SpaceBar

re: I wouldn’t give GE the glowing accolades Sarah gives them.

She doesn’t want to alienate the workers[voters] who have no part in the cronyism.


30 posted on 09/14/2011 9:45:41 PM PDT by GlockLady (Sarah Palin - The Antidote - Going Oval January 20, 2013!)
[ Post Reply | Private Reply | To 17 | View Replies]

To: Carling
Guess what? She didn’t even mention Perry in her “crony capitalism” post tonight.

$5,000 pales in comparison to half a billion or over $3 billion.

31 posted on 09/14/2011 9:46:07 PM PDT by SeaHawkFan
[ Post Reply | Private Reply | To 27 | View Replies]

To: Carling
No mention of Rick Perry in this Facebook post?

Sarah, call me. I can actually give you a winning strategy.

Yes, your obsessive and continual efforts to tie Rick Perry's name to the issue of crony capitalism is indeed a winning strategy for Sarah.

32 posted on 09/14/2011 9:47:48 PM PDT by AHerald ("Do not fear, only believe." - Mark 5:36)
[ Post Reply | Private Reply | To 8 | View Replies]

To: gov_bean_ counter

A very smart political move. Sarah always looks at the big picture and keeps her eye on the ball.


33 posted on 09/14/2011 9:48:03 PM PDT by GlockLady (Sarah Palin - The Antidote - Going Oval January 20, 2013!)
[ Post Reply | Private Reply | To 23 | View Replies]

To: meadsjn
Check out the pathetic Yahoo! spin on the AP story:

You see, they weren't ripping off the taxpayers, they were trying to save the economy.

34 posted on 09/14/2011 9:49:08 PM PDT by dead (I've got my eye out for Mullah Omar.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: GlockLady
Perry is tethered to Obama by a phrase. She will beat the hell out of Little Ricky using Obie as the club.
35 posted on 09/14/2011 9:52:44 PM PDT by gov_bean_ counter
[ Post Reply | Private Reply | To 33 | View Replies]

To: SeaHawkFan
$5,000 pales in comparison to half a billion or over $3 billion.

Actually, I find accusing a fellow GOP member of being bought for $5k to be much more of an insult to Perry than the obvious corruption by Obama. Palin blew it Monday night when she smeared Perry over $5k, or $38k, or $385k, or whatever the new anti-Perry spin is. That's why she hasn't said a word about it since then. It was a dumb comment, she got called out on it, and she is trying to bury it. Unfortunately for Sarah, her FR "supporters" can't see the obvious clue she has given them the past two days.

36 posted on 09/14/2011 9:54:27 PM PDT by Carling (DeMint to Obama: I want to read the bill, not listen to talking points off a TelePrompter.)
[ Post Reply | Private Reply | To 31 | View Replies]

To: RowdyFFC

On Greta tonight, Trump kept repeating, “half billion dollars that’s a lot of money”...he said it at least 6 times and he was only on the phone for a couple of minutes.


37 posted on 09/14/2011 9:56:44 PM PDT by bronxville (Sarah will be the first American female president.)
[ Post Reply | Private Reply | To 25 | View Replies]

To: Carling
Why didn’t she mention Rick Perry today after sliming him on Monday? Seems as if people like you bought her attack; why won’t she continue it?

Um, and I'm just guessing here, but maybe she's a better campaign strategist than you? Just sayin ...

38 posted on 09/14/2011 9:57:45 PM PDT by Springfield Reformer (Winston Churchill: No Peace Till Victory!)
[ Post Reply | Private Reply | To 27 | View Replies]

To: Carling
Who are you, the reincarnation of Pissant? Is Perry your main squeeze? Your deranged jumping from one Palin thread to another to spout your bile is tiresome.

Advice: Go to bed. Wake up. Get a life.

39 posted on 09/14/2011 10:10:09 PM PDT by FightforFreedomCA (It starts here! It starts now! Mr. President, game on!)
[ Post Reply | Private Reply | To 36 | View Replies]

To: FightforFreedomCA

Did media member Sarah Palin mention Rick Perry in her post tonight?

Yes/No

Simple question, isn’t it?


40 posted on 09/14/2011 10:20:47 PM PDT by Carling (DeMint to Obama: I want to read the bill, not listen to talking points off a TelePrompter.)
[ Post Reply | Private Reply | To 39 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-72 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson