The U.S. Department of Energy said it plans to push ahead with as much as $5.3 billion in potential additional alternative energy loans by Friday, despite Republican complaints the money is going out too quickly to untested firms.
That comes against a backdrop of increasing political controversy overthe ill-fated loan recipient Solyndra, the company whose bankruptcy has prompted questions of who inside the Obama Administration knew of the company’s weak financial position and why they continued to pour taxpayer money into it.
TAL Commentary: Used to be that when a government official got caught with his hand in the cookie jar he’d snatch his hand out and blush in shame. But corruption in government has become so common, so brazen, that now when he gets caught, he stares at you and eats cookies one after the other, and demands milk to go with them.
Solar energy companies can’t make money on their own, because there’s no business in solar energy panels. So they get rich scamming taxpayers, and the government — particularly the Executive — is in on the deal. These massive taxpayer-financed boondoggles wind up as campaign contributions and Board-of-Directors positions to Democrat politicians, and maybe enough Republicans to shut them up after they make a show of being shocked, SHOCKED at the corruption.
Solyndra went belly-up shortly after restructuring its obligations and getting a government-guaranteed loan (this is what you do if you know you’re going bankrupt, so you can pay off the guys who will break your legs if you lose their money). It even got money from the government after defaulting on its loan. The FBI is investigating, but that’s only to make it look good for the administration. I predict the prosecutions will fizzle out when they’re no longer needed for cover. Write that down.
Then the Department of Energy pushes another one of these loans, nearly a billion dollars’ worth, to Nancy Pelosi’s brother-in-law. Is this payoff, or insurance?
Now we learn that there are $5 billion more of these stupid loans that had to be finalized by Friday. It all makes perfect sense. Obama’s contributions are drying up, so he had to buy some favors. He’ll get some of this back as campaign contributions, but the main thing is to get a nice soft landing if he loses the election next year.
I wonder if we’ll see him heading up one of those solar energy companies. If so, just remember; you’re paying for it. And your kids are too. And theirs.
So when I say I want to opt out of being ruled by these crooks, maybe now you’ll understand.