For a party and a man that hold deep reservations towards capitalism, Democrats certainly jump at the chance to ride it – like all those corporate fat cats in their private jets! – when it suits their needs. Ah, but you see the argument isn’t over capitalism. That’s just bread tossed out for the masses. American socialists – those that are in the know, the elites – understand capitalism is the undisputed system of economics. Our infrastructure right down to the laws that govern commerce is capitalistic. There is no changing that. But how and where revenue is generated and then redistributed is where American socialism comes in. Here we are again, though. Socialism is rigid and nearly absolute in its means. This is the point where the road bends. The adaptation that has been on full display by the Obama administration is crony-capitalism, and corporatism. It’s not necessarily Socialism in the strictest terms.
Oil, natural gas, clean coal and nuclear energy exist. The benefits from which are well documented. Even liberals know this. However, through the use of regulations and legislations, Democrats are hell bent on creating an industry out of thin air. A lot depends on that point, too. For example, personal fortunes. Former Speaker Nancy Pelosi (only to name one. OK Al Gore, too) has invested heavily in green energy. The guarantees on investments are very secure. They come in the form of government subsidies – tax payers’ dollars. As I said, Pelosi is one of many liberal lawmakers who steer legislation to suit their investment needs. Business tycoons like T. Boone Pickens also played his hand in motivating certain legislation. After all, it was Pickens who started the Mesa Power green energy company which dealt exclusively with GE and a company heavily invested in by liberal lawmakers (again Pelosi). That’s a lot of money and connections associated with Democrat law makers and the White House.
Before solar-panel maker Solyndra LLC went bankrupt, the U.S. Department of Energy — which had signed off on more than a half-billion dollars in loans — approved paying up to $1.1 million for an investment bank’s advice on restructuring Solyndra “both in and out of bankruptcy,” records show.
The hiring of investment bank Lazard Ltd. before California-based Solyndra filed for bankruptcy this month and then saw its offices raided by the FBI reflects an earlier recognition within the government that the company, which had won praise from the White House and Energy Secretary Steven Chu, could be on the verge of collapsing. (Washington Times)
So taking and putting it altogether, Solyndra is just a tip of the iceberg. Companies like Solyndra are securities for liberal investors. It was given an insane amount of money at an insane interest rate. Why? The answer to that question is all too plain. Moreover, to show how deep their hands are in the mess, your friendly Department of Energy actually paid more than $1 million to restructure the bogus loan given to Solyndra before it was mismanaged into the ground. The bid was non-competitive and was a way to save Solyndra. The most important part to this is the Department of Energy has no need, right, or obligation to seek out financial advice. The move, according to the Obama administration, was to ensure the company stayed afloat so taxpayers would be repaid. How exactly tax payers were to be repaid is a mystery. Was Solyndra going to pass out free solar panels? So, then, it was a move to protect investors and campaign contributors.
This is corruption on a grand scale. With billions of tax payer dollars used to prop up bogus fronts for the sake of covering investors and contributors. Solyndra is only the small focal point of a much larger racketeering project in which the White House and Democrat lawmakers are guilty of running an organized crime ring.
Republican lawmakers are just now getting on the ball.
[…Rep. Fred Upton, Michigan Republican and chairman of the House Committee on Energy and Commerce] On Thursday, he called on the Energy Department to turn over communications among the department, the Treasury Department and the White House.
“Despite concerns over the company’s financial viability, the Obama administration restructured Solyndra’s loan in February 2011, and put venture capitalists at the front of the line, ahead of taxpayers, in the event of bankruptcy, which was in violation of the plain letter of the law,” a statement by the committee released Thursday said.
Rep. Cliff Stearns, Florida Republican and chairman of the House Energy and Commerce Committee’s investigations subcommittee, said at a hearing last week that the congressional probe turned up documents suggesting concerns within the government about the restructuring.
“These concerns are spelled out in an email between [Office of Management and Budget] staff in late January 2011, which notes that, ‘While the company may avoid default with a restructuring, there’s also a good chance it will not. At that point, additional funds would have been put at risk, recoveries may be lower, and questions will be asked,’” Mr. Stearns said, reading from the email.
Tags: Corporatism, crony capitalism, Department of Energy, green energy investments, green technology, Nancy Pelosi, President Obama, racketeering, solyndra, Solyndra bankruptcy, t boone pickens
Location: United States (load item map)
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