Saturday, September 25, 2021
HomePatriot DispatchesSolyndra And LightSquared Are Just Plain Old Fashioned Politicial Graft

Solyndra And LightSquared Are Just Plain Old Fashioned Politicial Graft

It would appear that everyone including myself, have written about Solyndra and LightSquared, and yet no one has called it what it is, they have alluded to it, but the truth is there and it is GRAFT. I see it in the definition and I know you do as well.

Graft

Graft \Graft\, n. [Prob. orig. so called because illegitimate or
improper profit was looked upon as a graft, or sort of
excrescence, on a legitimate business undertaking, in
distinction from its natural proper development.]
1. Acquisition of money, position, etc., by dishonest or
unjust means, as by actual theft or by taking advantage of
a public office or any position of trust or employment to
obtain fees, perquisites, profits on contracts,
legislation, pay for work not done or service not
performed, etc.; illegal or unfair practice for profit or
personal advantage; also, anything thus gained. [Colloq.]
[Webster 1913 Suppl.]

Why these two companies are going to be the most important stories to attach to Barack Obama is because he was “hope and change”. Barack was coming to Washington to “change” the status quo. He not only has not changed the status quo, he has ramped up, political paybacks for money bundlers to his campaign, in a way, that none of us have ever seen. He ran as a man of the people, hell all Democrats run that way, but he has shown us in a big way that they are liars and he and the rest of the Democrats are politicians to those who can buy access. It couldn’t be any more clearer where these slugs have learned this pay for play from, hell its the Chicago way. Five Million Dollars A Job, I Am Quite Sure, Many Americans Would Like That Money Back In Their Pockets

Boondoggles: With a minimum of five green firms going bankrupt, taxpayers find themselves on the hook for at least one possibly illegal loan while paying ghastly sums for each green job created. We’ve been sunburned.

As solar panel manufacturer Solyndra was sliding into a long-predicted bankruptcy, Energy Department officials began negotiations with the company and two of its main investors about restructuring its $535 million loan to keep afloat the business that was supposed to be a good investment.

Under the restructuring agreement, Solyndra’s private investors were moved to the front of the line and taxpayers were put on the hook for at least the first $75 million if the company should default. Subordinating taxpayers to private investors in recovering loan money is an “apparent violation of the law,” according to Fred Upton, R-Mich., chairman of the House Energy and Commerce Committee.

During hearings last week, Rep. Steve Scalise, R-La., and other Republicans noted that the Energy Policy Act of 2005 says obligations, or loan guarantees, shall not be subordinated to other financing.

In other words, taxpayers get first dibs on any money recovered and private investors take a number.

Why was the Solyndra loan restructured in this way? Was it because a major donation bundler for President Obama’s 2008 campaign was also a principal investor in Solyndra? Is that why the administration ignored repeated warning’s of Solyndra’s insolvency?

JadedByPolitics
Whoever has his enemy at his mercy & does not destroy him is his own enemy

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