01/26/12 Plundering the Treasury


‘To the victors go the spoils’ is an age-old phrase that has applied to politics for decades.  It has reached new heights in the last few years.

Months ago, the ‘green energy’ company Solyndra declared bankruptcy, taking with it more than half a billion dollars in taxpayer money.  In recent days, Solyndra attempted to pay employees half a million dollars in bonuses even while a local news station videotaped employees destroying millions of dollars in equipment.

The failed marriage of ‘green energy’ companies and taxpayer dollars is widespread.  This administration in Washington gave more than $6.5 billion in taxpayer money to at least a dozen ‘green energy’ companies in various stages of financial difficulty including five that have already declared bankruptcy (here, here, here, here & here).

One company, Beacon Power, received millions even though it had a junk bond rating.  Try making that kind of investment in the private sector and the feds will open an investigation.

A common thread with all of these companies is they are owned by Obama fundraisers, political advisers, or they benefit Obama supporters such as Senator Harry Reid and former House Speaker Nancy Pelosi.

This is truly a despicable effort by the Washington crowd to plunder the Treasury in order to enrich friends, donors, and political supporters.