Saturday, September 10, 2011

Congress: Just Say "NO" To Obama

Please read thru this next-step description of the busted solar energy company that essentially is about to steal over $500 million of Taxpayer money.  Solyndra is controlled by one of Obama's big financial supporters - Tulsa hick George Kaiser.  I know quite a bit about finance and at the very least the Taxpayer "green" investment money should be made on a senior secured basis.  This deal was set up to enable Kaiser to take a shot on the business for free and now steal $850 million of book assets for less than $100 million. 

Here's the account of this fraud in process as presented by Bruce Krasting:  LINK

It is way beyond any stretch of faith that DOE people representing the Taxpayers in this deal were acting in their capacity as a fiduciary.  As Krasting points out, many of them are trained attorneys.  This deal was put together to in a way that would enable Kaiser to steal Taxpayer money. I presented a blog earlier this week that shows how Obama knows about this deal, gave his blessing and rewarded a large contributor. Obama is supposedly a Harvard-blessed and trained legal mind.  As a leader he should be in a position to prevent this kind of theft.  He FAILS again. 

This is EXACTLY why the Government needs to be cut way back.  To let Obama have another $450 billion of Taxpayer money to sprinkle around to his supporters would be one of this century's great tragedies.


  1. C'mon friend. Not all companies in new fields are gonna make it. Just a fact of life. Many internet companies didn't make it either, and they got some govt funding.

  2. ..and look who people are saying "yes" to...small sample but look at the losers(ie last 5)..they seem to get more importance in media...telling.

    Who won the Republican debate?

  3. (Dave)

    Didn't watch the debate. Ron Paul should be the guy but the media will see to it that he's not.

    Beanie you need to read my previous blog on this and then re-read today. It's not about a company failing. It's about how Obama made sure this company didn't have to follow the rules and protocol for getting the funding. Obama jammed this thing thru because it was one of his bigger individual contributor's venture.

    I guess you must have voted for Obama. So you should know he hasn't fullfilled any of his promises and he's doing the exact kind of corruption and skullduggery that he promised to clean up.

  4. Anyone see this?

    Buying gold and silver in liquid ban in France on 1 September 2011

  5. Just mentioning that you say 500 million in the 1st paragraph and 450 billion in last paragraph.

    ...But what does it matter anyways, seems like the system has lost track of the difference between millions and billions. At this rate trillions will go out of style.

  6. (Dave)

    $500 million refers to the money that Obama allowed one of his big supporters to basically steal under Obama's "green" initiative.

    $450 billion refers the even bigger wealth transfer program that Obama wants. Most of that money will go to deadbeats who can work but don't want to because they can get unemployment benefits and other transfer payments and most of it will go to private contractors who do work for the Government and the owners and CEO's who "invested" in Obama's Presidency.

  7. Beanie, ain't your wool getting a little long?

  8. Desperation and reverse psychology ...?don't fall for their bluff...

    Heard on the Street, by Liam Denning
    from The Wall Street Journal

    Central banks' demand for gold has been crucial to boosting the metal's price. That should make gold bugs uncomfortable.

  9. Jamie's cry'in...sounds like one of the Duke's at the end of Trading Places!

    JPMorgan CEO says bank rules "anti-American": FT

    (Reuters) - The United States should consider pulling out of the Basel group of global regulators, Jamie Dimon, chief executive of JPMorgan Chase, said in an interview with the Financial Times.

    Dimon said he was supportive of forcing banks to have more capital but argued that moves to impose an additional charge on the largest global banks went too far, particularly for U.S. lenders.

    He was quoted as describing new international bank capital rules as "anti-American".

    "I'm very close to thinking the U.S. shouldn't be in Basel anymore. I would not have agreed to rules that are blatantly anti-American," he said in the interview.

    "Our regulators should go there and say: 'If it's not in the interests of the U.S., we're not doing it'."

    The Basel III capital rules are designed to increase the safety of the financial system by making banks build up risk-absorbent "core tier one" capital to at least 7 percent of risk-weighted assets. The biggest, including JPMorgan, have to reach 9.5 percent.