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Obama's Crony Capitalism: What the Solyndra debacle reveals about Obama's economic strategy

The president's address on jobs last night included some soaring phrases, but it left out one crucial word that epitomizes his approach to economics: Solyndra.Fourteen months ago, the president was using his sonorous baritone to deliver soaring rhetoric about how his policies helped launch that now-broke company, which made cylindrical solar panels. The administration fast-tracked Solyndra's loan guarantee through the American Recovery and Reinvestment Act—i.e. the stimulus—perhaps because Solyndra's principal backers just happened to have donated huge sums to the Obama election campaign. Washington guaranteed more than a half-billion in loans to Solyndra on the promise of 4,000 jobs."This new factory is the result of those loans," the president said at the Fremont, Calif., facility—a facility The Washington Post termed a "signature project of President Obama's initiative to


Added: Sep-9-2011 Occurred On: Sep-9-2011
By: yorba
Tags: solyndra, fraud, obama cronyism, hypocrisy, greenjobs, political kick backs
Location: Washington, District of Columbia, United States (load item map)
Views: 3372 | Comments: 12 | Votes: 2 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
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