The Ebola Czar, Ron Klain and Solyndra $535 Million Fraud

Ron Klain is a sharp-elbowed Democratic political operative with no medical expertise. Tapping him as “Ebola czar” may not be the president’s best move when, as it is, no one can believe a word the Obama administration says. And that’s not just because Mr. Klain is yet another lobbyist recruited despite Mr. Obama’s vow that his administration would shun lobbyists.

Klain was also a central player in the president’s Solyndra fraud, which soaked taxpayers for over half a billion dollars for the benefit of Obama cronies. In Faithless Execution, I recount the Solyndra fraud. It never got the attention it deserved — involving, as it did, potential felony fraud violations of federal law.

Even for people who did give it attention at the time, Solyndra is so many Obama scandals ago that its unseemly details are tough to recall. The story is thus worth retelling. As our nerves fray over the Ebola crisis, it is a valuable window into the administration’s priorities and an indicator of the level of trust we can put in the new czar’s assurances.

Solyndra was a solar-energy company backed by the family foundation of George Kaiser, an Oklahoma oil magnate and major Obama fundraiser. Prior to Obama’s coming to power, Solyndra had sought government funding under the economically absurd 2005 Energy Policy Act. That law lets the government play venture capitalist, investing taxpayer money in private “green energy” boondoggles that cannot attract adequate market financing.

Notwithstanding the Bush administration’s zeal to hop on this politically correct bandwagon, it declined Solyndra’s application. As one private analyst later put it, the company was “an absolute complete disaster,” with operating expenses, including supply costs, nearly doubling its revenue — and that’s without factoring in high capital and other costs in an industry with low profit margins. Given that solar-panel competitors backed by China were producing energy at drastically lower prices, the chance that Solyndra would ever become profitable was practically nonexistent.

But in 2008, Americans elected as president a devotee of renewable-energy experiments who had enjoyed major support from Kaiser. Obviously, Solyndra backers were thrilled. The Department of Energy (DOE) continued to stiff-arm the company in the days just before Obama’s inauguration, citing unresolved concerns. Yet, within just a week of the new president’s taking office, a DOE staffer noted in an e-mail, “We are approaching the beginning of the approval process for Solyndra again.”

Company officers and investors reportedly visited the White House no fewer than 20 times while the loan guarantee was being considered and, later, revised. In short order, Obama made Solyndra the very first recipient of a public loan guarantee when the Energy Act program was beefed up with “stimulus” spending. The loans and credits eventually amounted to a staggering $535 million.

At the time, Ron Klain was chief of staff to Vice President Joe Biden. Hot to become the face of Obama-administration green initiatives, Biden planned to announce the Solyndra loan during a much-publicized September 2009 energy speech. Officials at DOE and the Office of Management and Budget (OMB) had major qualms: They realized that the company was hemorrhaging money; even with the loan, Solyndra would lack the necessary working capital to turn that equation around. Yet the loan was approved in time for Biden’s speech. A rueful OMB official lamented in an e-mail that the timing of the loan approval was driven by the politics of the announcement “rather than the other way around.”

Although Solyndra was a private company, it was using its government loans as a springboard to go public. That triggered the obligation to comply with Securities and Exchange Commission (SEC) rules. For an initial public offering of stock, SEC rules require the disclosure of a company’s financial condition.

Solyndra was chicken feed---the real money came when Klain worked for
Biden...... (cough) "overseeing the disbursement" of billions in stimulus.

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What does "Czar Klain" know about this?

"Hi there, Americans. Obama put me in charge of the trillion dollar stimulus.
My son and brother are gonna help my office disperse the money. "

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Offshore Fraudster had links to offshore fund run by VP Biden's relatives
Reuters on Yahoo | 2/23/09 | BY Ajay Kamalakaran

(Reuters) – A fund of offshore hedge funds run by two members of VP Joe Biden's family was marketed exclusively by offshore firms controlled by Texas financier Allen Stanford, charged by regulators with an $8 billion fraud, the Wall Street Journal said.

The Bidens $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors LLC and the offshore Stanford Financial Group entity headquartered in Antigua, and was known as the Paradigm Stanford Capital Management Core Alternative Fund, the paper said. Stanford-related offshore companies marketed the Biden fund to investors and also invested about $2.7 million of their own money in the fund, the paper said, citing a lawyer for Paradigm.

Paradigm Global Advisors is owned through a holding company by the vice president Biden's son, Hunter, and Joe Biden's brother, James, according to the WSJ. Paradigm's attorney, Marc LoPresti, who represents Hunter Biden and James Biden, as well as Paradigm, told the paper he did not know which Stanford entity invested the roughly $2.7 million. (Excerpt) Read more at news.yahoo.com ...

NOTE A lawyer for Hunter Biden and James Biden told reporters the Bidens NEVER met or communicated with Stanford. (/snicker)

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Convicted con man R. Allen Stanford used offshore corporate money to subsidize the Democratic convention in Denver. A video posted on the firm's web-site shows Stanford, being hugged by Speaker of the House Nancy Pelosi and praised by former President Bill Clinton for helping to finance a Democrat convention-related forum and party put on by the National Democratic Institute.

"I would like to thank the Stanford Financial Group for helping to underwrite this," Clinton said to the crowd at the event. Stanford Financial was listed as the "lead benefactor" for the gathering, and Stanford was permitted to address the audience of several hundred.

The SEC charged yesterday that Stanford was running a fraudulent offshore investment scheme that may have bilked customers out of as much as $8 billion. Over the last decade, Stanford has spent more than $7 million on lobbyists and campaign contributions to Washington politics in both parties, although the vast majority of the money has gone to Democrats.

"We had no reason to believe that a very public company that was also engaged in philanthropic work might be suspect," said a spokesperson for the National Democratic Institute, Amy Dudley. (Excerpt) Read more at abcnews.go.com ...

NANCY PELOSI DANCING W/ CON MAN ALAN STANFORD AT DEMOCRAT BIGDO.

Was Ron Klain at the Denver Democrat convention underwritten by con man Allan Stanford?

UT OH--- Ebola Czar Vanishes from "The Democracy
Alliance" Website----Ron Klain no longer listed as a trustee

Obama's obsessive non-stop fund raising among the smug/stupid Democrat elite is beginning to look sinister. The world smolders but the Dumobcrat ding-a-lings soldier on w/ big bucks fund-raising.

REALITY CHECK Could "The Democracy Alliance" be a WH/Democrat Ponzi scheme in progress?

While they bash Wall Street publicly, leaders of the Democrats' mega-funder "The Democracy Alliance" have quietly recruited venture capitalists, bankers and hedge fund moguls -- along with union bosses and red-diaper trust fund babies -- to fund their takeover goals. ....$230,000 public school union dues go to the Democrats' "Democracy Alliance."

"The Democracy Alliance" does not itself raise and spend a great deal of money. Rather, being a partner in the Alliance requires one to contribute large amounts to other left-wing groups. The Alliance evaluates left-wing organizations on various criteria, and makes recommendations to its members as to where they should put their money. Currently, the Alliance lists 21 groups in its “Aligned Network”:

<><> America Votes, American Constitution Society, Black Civic Engagement Fund, Brennan Center, Catalyst, Center for American Progress, Center for Community Change, Center on Budget and Policy Priorities, Common Purpose Project, Fund for the Republic, Latino Engagement Fund, Media Matters for America, New Media Ventures, New Organizing Institute, Organizing For Action, Progressive Majority, Progress Now, State Engagement Initiative, State Voices, Women’s Equality Center and Youth Engagement Fund.<><>

The most interesting of the D/A documents that have come to light is the one that contains D/A’s “investment recommendations” for 2014. Not only does it list the recommended organizations, but it rates each organization in several categories, sets out the group’s budget for 2014, and shows how much of that budget should be contributed by the 100 members of the "Democracy Alliance." One category in which DA rates the organizations is “Collaboration,” as DA believes that all left-wing groups should coordinate their activities for maximum political impact.

Opportunistic pols like Harry Reid have denounced Charles and David Koch, and others, who contribute to conservative causes as “shadowy,” “secretive” people who dare infest politics with “dark money.”

In that context, it is worth noting that most of the groups to which the Alliance and its elite liberal members contribute are 501(c)(4)s that do not disclose their donors.

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ANALYSIS Buncha sap-happy Dummy/dopes are feeding the Democrats' Democracy Alliance lotsa money---thinking its safe.....going to a "good thing."

That's exactly how Madoff operated. Money-laundering, tax evasion was part of the Madoff mix---helping investors, foundations, and tax-exempts break the law in a seemingly legal way.

Madoff helped himself to the untraceable money in the process.....and got himself in trouble. When he went to jail for 125 years, investigators found Ponzi King Madoff had stashed billions offshore---into a labyrinth of financial entities.

COLLUSION AND CONSPIRACIES GALORE Some $8.9 billion was funneled to Madoff through a dozen so-called feeder funds based in Europe, the Caribbean and Central America......a labyrinth of hedge funds, management companies and service providers that, to unsuspecting outsiders, seemed to compose a formidable system of checks and balances.

But the purpose of this complex financial architecture was just the opposite: the feeder funds provided different modes for directing money to Madoff in order to avoid scrutiny.

Dummycrats apparently took notes.

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Harry Reid is forever denouncing the Koch brothers, and others who contribute to conservative causes, labeling them as “shadowy,” “secretive” people who infest politics with “dark money.” ........but Harry has no problem with the Democracy Alliance's arch-secrecy since they are his Dummycrat comrades.

Keep in mind ......most of the groups to which the lib-loving Democracy Alliance and its elite liberal members contribute are 501(c)(4)s that do not disclose their donors. In fact, this is addressed in a “FAQ” in one of the D/A documents....which was not intended for the eyes of the conservative riff-raff.

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enforcement@SEC.gov

THE SEC WOULD BE INTERESTED IN THE DEMOCRACY ALLIANCE'S “investment recommendations” and the legalistic language it uses: (1) to list the recommended organizations, (2) to rate each organization in several categories, (3) to set out the group’s budget for 2014, and, (4) to show how much of that budget should be contributed by the 100 members of the "Democracy Alliance." One category labeled “Collaboration,” suggests left-wing groups should "coordinate" their activities for maximum political impact.

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THIS JUST IN--- Ron Klain, New Ebola Czar, skips second WH Ebola Meeting...

Heck, it takes time for Klain to check out his vast offshore holdings so's he can figure out how much of our tax dollars he'll need to make the czar job worthwhile----further indicates serious tax dollars are being readied for offshore wire- transfer.

KEEP IN MIND--As Biden's aide, "Czar Klain" Oversaw dispersal of billions in “Stimulus” Tax Dollars.

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