Politicians are all alike. Once we understand that, and Occupy America, we can be rid of them.

Commentary on The Capital Markets

Posted 2011-11-14 15:46
by Karl Denninger
in Corruption

Oh By The Way: It's Obama's White Hose Too

 

Just to make sure everyone understands, diverting funds isn't just a city and state sport.  Why no, we do it for those who make political donations too -- especially those who bundle together really big political donations....

A new book by Hoover Institution fellow Peter Schweizer details the startling extent of the cronyism that has pervaded President Obama’s “green jobs” push. According to Schweizer, 4 out of every 5 renewable energy companies backed by the Energy Department was “run by or primarily owned by Obama financial backers.”

Those companies’ “political largesse is probably the best investment they ever made in alternative energy,” Schweizer explains. “It brought them returns many times over.”

80% eh?  That's a pretty impressive number.  And while I can argue that renewable energy companies are probably more likely to be run by Democrats than Republicans you can be a Democrat and not give a lot of money to a Presidential campaign, can't you?

Why yes you can.... but in this case the "yes we can" appears to be directly related to Obama's political donations -- give him a lot of money and the federal spigot will open and shower you with taxpayer funds!

This might be defensible if these companies actually turned out to be good investments.  But then we have Solyndra, which it appears was on the verge of failure just before it was bailed out, and it appears the firm re-wrote loan covenants to effectively pay off prior private party loans with the nice taxpayer milk that came from you and I even as the firm was on the verge of failure!

Only in government, my friends.  No private lender would ever allow such a thing to happen.

In private business when you try to screw someone like this the attempt is almost-certain to draw a lawsuit in response and might draw a criminal charge.

When it comes to government handouts?

Not so much.

Here is your crook in chief, making sure that your hard-earned tax money is siphoned off to his cronies that in turn "donate" money to his re-election campaign....

Ps: Yes, the mis-spelling in the title is intentional and you're the one getting hosed.