I’d laugh if it wasn’t our money that was being shoveled out the door on this insanity.
Direct quote from “Throw Them All Out” (a book everyone that comes to Free Republic should read) by Peter Schweizer, pp 82:
“Friends indeed. The Department of Energy loan and grant programs might be the greatest—and most expensive—example of crony capitalism in American History. Tens of billions of dollars were transferred to firms controlled or owned by fundraisers, bundlers, and political allies, many of whom—surprise!—are raising money for Obama again.”
Another quote, pp 81 (the book is exceptionally well documented):
“The Government Accountability Office has been highly critical of the way guaranteed loans and grants were doled out by the Department of Energy, complaining that the process appears ‘arbitrary’ and lacks transparency. In March 2011, for example, the GAO examined the first eighteen loans that were approved and found that none were properly documented.”
And from pp 78:
“The so-called 1705 Loan Guarantee Program and the 1603 Grant Program channeled billions of dollars to all sorts of energy companies...In the 1705 government-backed loan program, for example, $16.4 billion of the $20.5 billion in loans granted went to companies either run by or primarily owned by Obama financial backers—individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party.” [My note: That’s 80% of OUR money went to his people.]
A lot of these people belong in jail for what they’ve done to the taxpayers. Seriously.