algore-money

Anybody who has followed the “green jobs” push from the beginning caught on to the sham a long time ago, but details continue to emerge as to how our tax dollars are enriching Obama cronies and even sitting members of Congress:

Peter Schweizer, president of the Government Accountability Institute, said President Barack Obama had a “recycling” program that used crony capitalism to reward its campaign contributors, who would then funnel money back to the Obama campaign.

Appearing on Fox News’s one-hour special on Thursday about the “District of Corruption” movie, Schweizer said crony capitalism was so rampant in the Obama administration that Obama campaign bundlers received more than $21,000 on average in government-backed loans and grants for every dollar they contributed to the Obama campaign.

Schweizer said the Obama administration treated taxpayer dollars as “gift bags” to give to its top donors, which he called “the Obama recycling program.”

In many instances, Schweizer said top Obama administration bundlers and influential Democrats — like California Senator Dianne Feinstein and former Vice President Al Gore– invested in companies before those companies received government-backed loans and grants, and then saw their investments flourish.

One such company was Amyris biotechnologies in Berkeley, California. Weeks before Amyris received a $25 million grant from the Obama administration, Feinstein and her husband bought nearly a $1 million in equity in the company. Then, the initial investors, such as Gore, saw a $12 million investment balloon to more than $80 million after they took the company and cited the government grants as a reason the company would be successful. As Schweizer noted, the IPO was only possible because of taxpayer dollars.

They “invest” a little of their own cash, the government artificially inflates the value with an infusion of taxpayer dollars, and Kaiser, Gore & company cash out. And if the company goes bankrupt, at the very least they recover their initial “investment” because all the downside is on the taxpayer — then they move on to the next federally funded gold mine.

The fact that nobody’s in jail over these scams is maddening. They made sure the YouTube video guy got put away though!

Comments

13 Responses to “So That’s Why They Call it Recycling”

  1. SignPainterGuy on November 25th, 2012 6:00 pm

    I have to ask, is that a photoshopped image of The Goracle with that sack-o-cash ? With the money invested early in the process and the infusion of taxpayer Million$, a great return is to be expected, making anyone in the right position a happy camper, but with all the pix of Al blowing flames I didn`t realize any existed of him with the beginnings of a smile !

  2. ChapBix on November 25th, 2012 7:36 pm

    That was just Al passing gas. Oh, what a relief it is!

  3. SignPainterGuy on November 25th, 2012 7:43 pm

    Aah yes, all gassed up with nowhere to go. He hasn`t left the state of Gorebull Warming !

  4. wsg on November 26th, 2012 12:21 am

    Why hasn't the SEC put the kibosh on this scam ?? Any private citizen who engaged in "insider trading" would end up in jail !! Back before UPS went public – I was new hire as PT manager – we were expressly prohibited from buying or selling stock for many months prior to and after the IPO. Ain't the lawless elite grand ??

  5. Marshall_Will on November 26th, 2012 12:57 am

    Right, welcome to the Return Of The Gilded Age. Yeah I remember the UPS IPO, at the time I think it was the largest ever. We all wanted a piece of it. Of course they had like a 100 year track record of increased earnings and rock solid mgmt.

    The festering PILE nearly the lot of this was wouldn't pass as an 'IPO' by any objective standard. Any singular Solyndra should have been sufficient for impeachment. We need to keep hammering on these. Loud and often!

  6. Truesoldier__ on November 26th, 2012 1:18 pm

    Like everything else that would be illegal for the Average Joe, Congress has exempted themselves from the law.

  7. Truesoldier__ on November 26th, 2012 1:21 pm

    So here we have the political elites once again enriching themselves on the taxpayer dime; yet clamoring to strike a deal as quickly as possible to raise taxes/revenues to the government coffers on the backs of the real wealth creators known as small business owners.

    I guess we know where their priorities are.

  8. Truesoldier__ on November 26th, 2012 1:25 pm

    In other news, China has successfully landed their first fighter jet on their first ever aircraft carrier. This is the next step in China showing that they are going to be a force to be reckoned with as they now have a power projection platform.

    For the longest time China had a rather large airforce, but not much of a Navy. With their increased Naval capabilities their will be an increse over Tiawan (remeber the Chinese believe that Taiwan belongs to them even though the people of Tiawan do not). Combine this with Obama as President and you have a disaster waiting to happen.

  9. Marshall_Will on November 26th, 2012 2:31 pm

    The woosh of air let out of the small biz community post-election permanently altered the moon's rotation! Lots of associates w/ carefully crafted, back burnered plans, scrapped on the spot.

    I think you'll also see a steady flow of aging boomers now free to walk away from their homes and/or 2nd homes, filing for SS at the quickest possible juncture. Many of us that were clinging by our toenails won't see the point in torturing ourselves any longer?

    Why soldier on in agony when there's no tangible reason to believe the economy and home prices will improve in our lifetimes? Or certainly on a timeline to have any meaningful impact on our lives/net worth..?

  10. jeffythequick on November 26th, 2012 2:49 pm

    Hard to believe Tipper left that, especially after that 2000 D Convention Smooch.

    Maybe he's got that money for another massage in Portland?

  11. SignPainterGuy on November 26th, 2012 3:15 pm

    That`s IT ! THAT`s why he is showing the hint of a smile; that sack-o-money can buy the release of countless Chakras !

  12. Pasadena Phil on November 27th, 2012 12:40 am

    BTW, Schweizer hasn't been pointing the finger only at Dems and Obama cronies. In his book "Throw Them All Out", he goes after pretty much everyone. The District of Corruption takes place behind the phony gridlock kabuki. Pigs at the trough everywhere you look.

  13. Pasadena Phil on November 27th, 2012 12:43 am

    If you want to see one of the GOP equivalents to the green scam, take a look at the ethanol scam. There one big boondoggle. Every ethanol company I ever researched was either started by a politician/banker/real estate team or by a big GOP funding corporation. It's like the House Ethics committee, "there but for the grace of God go I" problem. No one dares blow the whistle because everyone is guilty.

Leave a Reply

You must be logged in to post a comment.