By Doug Book, staff writer
When it comes to cronyism, fraud and conspiratorial criminality, Barack Hussein Obama has no peer. Having learned his trade in the city of Chicago, where the theft and divvying up of taxpayer dollars among the politically connected is an art form, Obama’s new gig as President finds him performing the same scams, just on a larger, more lucrative playing field.
In 2010, solar panel manufacturer Solyndra Inc. received $535 million in government backed loan guarantees from Barack’s 2009 stimulus fund.
Of course, according to a Price Waterhouse audit filed earlier that year with the SEC, Solyndra had lost $558 million during its first 5 years in business, boasted negative cash flow, no profitable years and featured a “seriously flawed” business model.
But the company did have one very important attribute, a far greater asset than any operating report or profit history–Texas billionaire George Kaiser.
Kaiser was a major Solyndra investor who had personally donated $53,500 to Barack Obama’s 2008 campaign. In fact, Kaiser had bundled even larger amounts of money for Obama’s bid for the White House.
Well Obama had systematically paid off true blue , campaign-donating unions like the SEIU with taxpayer funds, always scoring a campaign committee kickback on the side. And Solyndra was a green energy company. Throwing half a billion tax dollars down that renewable energy rat hole would make his greenie, leftist base happy.
And good friend and dependable donor George Kaiser would be neatly bailed out of any investment he had made in the nearly bankrupt concern. For loan documents specified that, “…the loan guarantees [to Solyndra] SUBORDINATED THE TAXPAYERS CREDIT POSITION TO PRIVATE INVESTORS , LIKE KAISER, should the company go bust.” (my caps)
In short, “…Kaiser will be at the front of the distribution line when Solyndra assets are liquidated.” And taxpayers? Well they can depend on retrieving…NOTHING!
After all, they don’t have that Chicago connection so necessary for profiting on the front side and exiting unscathed on the back.
So why did the FBI suddenly decide to raid Solyndra, boxing up every available document for “safe keeping”?
The House Energy and Commerce Committee has been investigating the Solyndra loan scam since February, demanding and eventually having to subpoena documents from the White House Office of Management and Budget.
But as a result of the raid, every page, every note, every loan document, every disbursement–say to political campaigns–will now be critical parts of an “ongoing investigation” being conducted by the Obama Justice Department.
So discussions between Kaiser and Solyndra, Kaiser and the White House–which he visited 16 times between 2009 and 2011–records of donations or deals will be held in strictest secrecy by the Justice Department.
In short, Eric Holder’s FBI, White House guard have just bagged, tagged and secreted away every piece of documentary evidence of Obama/Kaiser/Solyndra wrongdoing.
Naturally, we can depend upon Attorney General Holder mounting a vigorous prosecution of his boss. Sometime after the election – about when Hell freezes over.
Pretty handy when the racketeer is in charge of investigating himself, isn’t it! Will we be able to file the investigative results of this little White House adventure with those of Fast and Furious?
Only time will tell.
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This day in history September 16
1908: General Motors Corporation is founded. It took the UAW 100 years to kill it, they did in 2009.
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