We just learned that another wealthy Democrat got a big federal loan guarantee. I guess that this is "hope and change", the Obama version!
Yes, Robert F Kennedy, Jr, the nephew of the late president and part of a very wealthy family, got a big loan guarantee:
"......a $1.4 billion bailout for his company, BrightSource, through a loan guarantee issued by a former employee-turned Department of Energy official."
This is shocking for several reasons.
First, why didn't Kennedy risk his own money? Why didn't he go to the family trust and get a loan from that?
Second, why are so many rich Democrats getting "loan guarantees" from the Obama administration?
We know now that "....80 percent of all $20.5 billion in Department of Energy loans went to President Obama’s top donors.
Furthermore, some of those dwarf in size those given to Obama bundler George Kaiser, owner of the now defunct Solyndra.
The list—which features the likes of Google owners Larry Page and Sergey Brinn, Robert F. Kennedy Jr., Ted Turner, John Doerr, and Al Gore—raises new questions about the procedures used to administer the now-controversial DOE loans." (Hall)
We got more: Obama’s Half-Billion-Dollar Crony Drug Deal
This is obscene. This is another example of "Chicago politics" or the crony capitalism that Obama learned as a Dem politician in that very corrupt city.
Third, and very important, these companies are losing money. They can't get loans from private banks or venture capitalists.
Stay tuned. I think that we just unwrapping one of the worst examples of presidential corruption in US history.
By the way, how is that "hope and change" working out? It's working really good for millionaire Dems who want to get richer on taxpayer money.
Check out our Thursday night commentary:
Listen to internet radio with Silvio Canto Jr on Blog Talk Radio
Tags: Rich Democrats and federal loan guarantees To share or post to your site, click on "Post Link". Please mention / link to the My View by Silvio Canto, Jr. Thanks!
