Solyndragate cost the American taxpayer a staggering $535 million. But far from being impeached and facing criminal charges for this exposed money laundering operation, President Zero plows full steam ahead, rewarding his bankrollers with bushels of our money in the name of phony “green energy” boondoggles:
On September 7, the [Department of Energy] announced its plan to guarantee 80 percent — or $275 million — of a $344 million private loan taken out by the firm SolarCity. The company installs rooftop solar systems that harvests electricity SolarCity then sells.
The guarantee means that if SolarCity’s project does not succeed, the DOE will use taxpayer money to pay back 80 percent of the company’s private loans.
Sweet deal. Here’s how it was secured:
The Chairman of SolarCity, Elon Musk, is a major financial supporter of the president. On April 15 of this year, Musk donated $35,800 to the Obama Victory Fund. He also gave an additional $5,000 to the Obama campaign.
Like Solyndra officials White House visitor logs show Musk has visited the Administration at least four times since 2009.
Then there’s Solexel, which has been handed $13 million by Obama’s DOE:
Solexel is financially backed by venture capitalist Steve Westly. In 2008, Westly bundled for Obama’s presidential campaign, bringing in more than $500,000. Westly also served as a California co-chair and was a member of the National Finance Committee for the Obama for American campaign.
He’s at it again for the president’s 2012 re-election campaign. So far, Westly has bundled between $100,000 and $200,000.
The looting won’t stop until Obama’s hand is forcibly removed from the cookie jar, or the entire economy collapses under the weight of the debt he has been running up while burying his supporters in an avalanche of stolen money.
On tips from LarryG and GoY.