View Full Version : U.S. Issues A new Call for Stimulus won't set well with this history as a guide

09-07-2011, 08:17 AM
$530 plus large cash gone and the company out of business. Stimulus bucks gone, taxpayers hung with the bill. And now the paper trail leads shockingly back to the top.

And people wonder why most folks are bitter and tired of government?


Posted 09/06/2011 06:42 PM ET

Corruption: A top bundler and major investor in a now-bankrupt green company made multiple White House visits before he got a guaranteed stimulus loan that the administration monitored to ensure it was granted.

During the Clinton administration, when the Lincoln Bedroom in the White House became a favorite place for campaign contributors to rest their weary wallets, the infamous Johnny Chung made the observation that the White House was like a subway turnstile. You put your token in and you got inside.

Getting inside the White House was easy for billionaire investor George Kaiser, who made multiple visits to the White House and appeared at White House events next to administration officials. One of the prime investors in the green energy company Solyndra, Kaiser put quite a few tokens in the White House turnstile.

As the Daily Caller reports, Kaiser himself donated $53,000 to Barack Obama's 2008 election campaign, divided between Obama for America and the Democratic Senatorial Campaign Committee. A world-class bundler, Kaiser also raised $50,000 to $100,000 from others for the senator's campaign.

Despite a warning from Solyndra's own accountants at PricewaterhouseCoopers that the company's business model was suspect and raised "substantial doubt about its ability to continue as a going concern," President Obama visited the company and gave it a glowing endorsement as a government-picked winner alongside electric cars and high-speed rail.

Despite its spotty business record, Solyndra was the first recipient of green stimulus cash in the form of a $535 million guaranteed loan. The loan not only escaped serious scrutiny, according to the Government Accountability Office, but also was despite denials by White House officials fast-tracked by an administration that monitored every step in the process.

Last Thursday, House Energy Committee Chairman Fred Upton, R-Mich., sent a letter to the White House asking for all correspondence among administration officials, Solyndra and its investors. "We have learned from our investigation that White House officials monitored Solyndra's application with (Energy Department) and Office of Management and Budget officials during the course of their review," the letter says.

Kaiser wasn't the only one involved with Solyndra putting tokens in the turnstile. Solyndra itself spent more than $1 million from 2008 to 2011 lobbying Congress for various green legislation from which it would benefit, including the "Solar Manufacturing Jobs Creation Act."

According to the Center for Responsive Politics, Solyndra board members donated at least $27,400 to various Democratic campaigns and organizations. Ben Bierman, executive vice president of operations and engineering for Solyndra, donated $5,500 to Obama's re-election effort. Karen Alter, senior vice president of marketing, put up $23,000 in 2008.

09-08-2011, 06:37 AM
All of this is why we need elections that aren't privately funded.

09-08-2011, 07:01 AM
All of this is why we need elections that aren't privately funded.

More govt isn't the answer to too much govt.

What we need is full disclosure as to who gives and how much and stop allowing the two parties to control the game by denying others the right to get on the ballot.