Posted on 10/02/2011 7:19:14 AM PDT by UB355
Who arranged the Solyndra loan? A top Obama fund raiser named Steven J. Spinner who, according to ABC, worked to “pick and select fantastic projects” for DOE to fund. During the campaign, he was responsible for raising at least half a million dollars for Obama. Now, he told associates that he “helped oversee the more than $100 billion of loan guarantee and direct lending authority” for DOE’s green-energy lending program.
And what a coincidence! Spinner’s wife, Allison’s law firm Wilson, Sonsini, Goodrich & Rosati got $2.4 million in legal fees to handle the legal work in connection with the Solyndra loan.
The fact is that the Solyndra scandal is just the tip of the iceberg. Much of the DOE green energy lending program is a scam. It is a slush fund of pork for paying back campaign contributors. Top Obama bundler George Kaiser was the chief investor in Solyndra.
The Democrats are digging in to continue the lending program because the firms that have already gotten loans can’t pay them back unless the welfare continues to flow. If it is shut off, they risk having dozens of Solyndras to explain away, each with its own sordid history of campaign donations and special influence.
When the Republicans in the House demanded the termination of the $1.5 billion lending program to offset the extra money the Federal Emergency Management Agency (FEMA) needed. The GOP conservatives did not want the FEMA money to add to the deficit. But the Senate is fighting like crazy against the cut, even going to the lengths of threatening a government shutdown over the issue. They need to keep the funding so the firms don’t embarrass them and add to the taxpayers’ losses.
The Solyndra scandal is a gift that keeps on giving. It shows that not only was Obama’s stimulus package and baloney about green jobs a fraud but that it was also good old Chicago politics at work.
And the entire concept of the loan program is bogus. How can you make an energy company that is not viable work by lending it money? If the program can generate energy at competitive prices, why would it need federal aid? And, if it can’t, how would it ever be able to repay the federal loan?
Indeed, giving a company a federal loan realistically precludes private financing unless the federal loan is subordinated to private financing in the loan agreement, an arrangement which – as it did in the case of Solyndra leads to the massive fleecing of the taxpayer.
I’ve said before that every single dollar of the stimulus bill should be tracked to the recipients to see how it was actually used and who were the real beneficiaries. $2.4 million to the law firm with direct ties to the fundraiser who was recommending projects will just be the tip of the iceberg.
I’d lay odds that we’d find that of the $500+ million that went to Solyndra, over half of it went to pay off bogus suppliers, or people who were in on the scam, probably including a healthy dose of the officers in the company.
And where does the government get off letting a fundraiser direct the spending of $100 billion(! effing Billion, not Million) dollars of taxpayer money? Good grief!
We’ve got the internet for a tool. Someone needs to set up the website to track the money and the tools to allow those with an interest in the issue to follow the dollars through the federal pipeline and into the pockets of the recipients. It will put Chicago politicians to shame when they see how much bigger the game can be played.
Shhhhhhsh...don’t tell the NYTIMES...they might have to write a story.
$17 million went to Michelle’s brother, a college football coach.
Great idea. I would bet that with every contract there is a tie to a contribution to Obama’s one billion dollar campaign. Republicans may be afraid to impeach Obama but at least they can expose him.
Great idea. I would bet that with every contract there is a tie to a contribution to Obama’s one billion dollar campaign. Republicans may be afraid to impeach Obama but at least they can expose him.
$17 million went to Michelle’s brother, a college football coach.
******************
Seriously? How and why?
nope nope nope.... Don’t try to blame this on ‘a fundraiser’
Someone IN THE GOVERNMENT afer Obambi was elected had to approve it- AFTER the Bush Admin denied it.
I bet this goes right to the Oval Ofice
.
It a System of Patronage.
That is what 0bama has set in place, its why Carville bragged about “Ruling” for 40 years, and its how 0bama and the Socialists of the DNC had planned to keep America don while they redistributed everybody’s wealth.
The System of Patronage - this is the real story here, Solyndra is just on small peek behind their curtain.
Socialists couldn’t get America to willingly go Red, so the invented a clever way to accomplish it by the corruption of Capitalism thru this Government Bailout and Green Jobs bonanza.
If you all remember back far enough you will recall them even talking about it after the 0bama election.
.
Her brother coaches basketball, but I would like to know more about the $17 million.
The better question to ask is how many fundraisers did Obama attend at the homes of Solyndra-linked people AFTER the loan was provided?
Instead of running for re-election, Obama & Co. better start considering running from the long arm of the law.
In 2013 there will be a new sheriff in town, and the new DOJ will become Prosecutions ‘R’ Us going after this regime’s criminal enterprise.
I've posted about it here, but I guess there are just SO MANY of these scams that we have stumbled upon...it just goes on that pile and we are all overwhelmed with the next thing. I thought my find (had to do with millions of $$$ being filtered through HHS to a bizarr-o ad/pr company to design a program to infiltrate teenagers “minds” in Nevada...and, no I'm not making this up—I wish I were)was incredible and perhaps something that could directly wound this corrupt regime.
But, I found no such site. I even toyed with the idea of starting one myself...like a Drudge Report....just like that format: Just a brief teaser headline, and a link. I have the time, but am intimidated due to my lack of internet skills. I would absolutely donate to such a site if somebody took this on...and like Drudge, you could eventually sell that big top ad space.
I want this corrupt bunch brought down, before the completely destroy this company.
GRRRRREAT aticle by Dick Morris (and thread by FReepers)! Crony SOCIALISM. DEFUND socialist collectives, foreign and domestic. Indict, convict, incarcerate.
(It’s the SOCIALISM, stupid)
"This instrument is filed for record by xxx Title Company as an accommodation only. It has not been examined as to its execution or as to its effect on the title."
Oddly worded in a whacky deal, IMHO. For the amount of money laying on the table, one would expect a legion of lawyers to have air-tight documentation.
What???!!! Looking for documentation - what’s her brother’s name? Robinson? What school?
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