With the FBI raiding the offices of Obama’s crony capitalist financiers at Solyndra, we may finally be moving toward acknowledging the obvious: “green energy” is a multi-$billion swindle warranting criminal prosecution. From the Wall Street Journal:
Congress has been investigating the company, which received a $535 million government loan guarantee in March 2009 and announced August 31 that it is filing for bankruptcy. Yesterday’s FBI raid is the first hint of a larger government probe, which is being conducted in cooperation with the Department of Energy’s Inspector General.
Solyndra was once a leading light, if you will, of the Obama Administration’s signature “green jobs” dreams. … Solyndra never did turn a profit and laid off employees in November. But in February the company renegotiated its loan guarantee — with a hitch. Under the new agreement, Solyndra’s investors would loan the company $75 million but be first in line on repayment in the event of bankruptcy, in front of taxpayers.
If you’re feeling déjà vu, maybe you’re thinking of the way the Obama Regime violated the law to put the screws to secured creditors on behalf of the usual Big Union beneficiaries when it nationalized Chrysler.
One of Solyndra’s biggest backers is the George Kaiser Family Foundation, whose namesake is an Oklahoma oilman who bundled campaign contributions from multiple sources for Mr. Obama’s 2008 campaign. … [T]he Daily Caller reported yesterday that “Solyndra officials and investors made no fewer than 20 trips” to the White House between March 2009 and April 2011 and that Mr. Kaiser also made a few visits.
What’s another half a $billion wasted? It’s only our money, not Obama’s. The important thing is that Kaiser raised $50,000 for Obama’s last campaign.
Meanwhile, Bernie Madoff sits in prison, wondering why he didn’t go into politics.
On tips from wingmann, Mary, Shawn, G. Fox, and J. Hat tip: Sad Hill News.