We here the left railing all the time about Crony Capitalism while completely ignoring the cronyism in their own party. Take Solyndra as an example; according to the House Committee on Energy and Commerce none other than Rahm Emanuel pushed for these sure looser loans to be granted to the failing solar company.
Should we be shocked? No, not really, after all these people are from Chicago, Rahm even went back as mayor, where corruption is not only rampant but it is seen as the way to do business. While being aware of the financing communities concerns about this $535,000,000 loan Emanuel’s the Administration attitude was “if Rahm wants it, we’ll make it happen.
Since this company went belly up Emanuel has claimed that he doesn’t “remember” “or know about it” even though his fingerprints are all over this including documented email evidence proving him to be lying. In the end, according to Peter Schweizer, we can hope to get a mere $25 million in tax payer dollars back making this investment a loss of over half a billion dollars all to pay off an Obama ally.
Just how big an ally? George Kaiser, Solyndra’s chief investor was an Obama bundler raising funds for Obama’s election. These fund, along with the financial industries warnings about this loan plus Emanuels clear involvement point to one thing. Cronyism at it’s most evident. Socialist Cronyism has taken over Washington DC.
Solyndra is but one example of this, it is now been reported that 80% of the $20,500,000,000 of Department of Energy loans went to Obama donors. Consider also that General Motors, was bailed out with our money, leaving the investors high and dry while handing control of the company over to the Federal Government and Labor Unions. Chrysler was handed over to a foreign auto company along with, you guessed it, the Federal Government, Labor Unions and the Canadian Government.
Is this the most corrupt Presidential Administration in history? I don’t know, but they are obviously trying to earn that title.