A Standard & Poor’s analysis and the congressional investigation reveal the Department of Energy went out of its way to choose “green” companies that were hopelessly in debt and failing.
According to a 1-15-12 story in NEW AMERICAN:
[First Solar, a manufacturer of thin film solar panels — and flagrant Washington lobbyer — secured a whopping $3 billion in federal loan guarantees, the most of any recipient. “First Solar spent $2.2 million on lobbying in Washington since 2007 and representatives met Obama administration officials before winning the aid,” Bloomberg reported last month. “In California, the company gave $150,000 to campaigns last year, more than triple the $38,750 donated by BP Plc’s North America unit, according to the secretary of state’s office.”. . .The result? The company was the worst performer in the S&P 500 index in 2011 after plunging 73 percent in New York trading through December 23.]
From a criminal justice standpoint it appears that DOE money—by the billions—is being funneled into these companies then siphoned off using the chaos of corporate collapse and bankruptcy as a smoke screen.
Much of the “Stimulus” money ends up in dubious projects so numerous they are difficult to monitor and audit. Much of the money when it reaches the state or municipal level is diverted somewhere else.
There's nothing enigmatic about Obama and his administration. It is organized crime at the highest magnitude.
Talking heads and pundits are dropping the phony baloney term “disingenuous” when speaking of the Obama mob. But they can’t seem to make themselves go much further.