Archive for the ‘Obama Corruption’ Category
Accuses Leftist Obama Crony Jon Corzine of Stealing Customer Money, Collapsing His Firm, and Destroying Investor Confidence in Financial System
THE BLAZE: Ann Barnhardt describes herself as a an “an old-school commercial hedge broker specializing in CATTLE and GRAIN.” And she just shut down her business by delivering a passionate and chilling open letter posted on her website.
“I could no longer tell my clients that their monies and positions were safe in the futures and options markets – because they are not,” she writes. And then she unloads:
Everything changed just a few short weeks ago. A firm, led by a crony of the Obama regime, stole all of the non-margined cash held by customers of his firm. Let’s not sugar-coat this or make this crime seem “complex” and “abstract” by drowning ourselves in six-dollar words and uber-technical jargon. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate. This is unfathomable. The risk exposure precedent that has been set is completely intolerable and has destroyed the entire industry paradigm. No informed person can continue to engage these markets, and no moral person can continue to broker or facilitate customer engagement in what is now a massive game of Russian Roulette. [Emphasis added]
Republicans calling for special counsel to investigate Eric Holder’s obvious lies to Congress about Fast & Furious scandal
FOX NEWS: House Republicans are calling for a special counsel to determine whether Attorney General Eric Holder misled Congress during his testimony to the House Judiciary Committee on Operation Fast and Furious, Fox News has learned.
House Judiciary Committee Chairman Lamar Smith, R-Texas, was sending a letter to President Obama on Tuesday arguing that Holder cannot investigate himself, and requesting the president instruct the Department of Justice to appoint a special counsel.
POLITICO: Solyndra executives repeatedly invoked the Fifth Amendment this morning as House lawmakers pressed them to answer questions about the company’s financial collapse and any hopes of repaying their $535 million federal loan guarantee.
“While I hope to have an opportunity to assist this committee in the future, on the advice of my attorney, I must respectfully decline to answer any questions,” Solyndra CEO Brian Harrison told Energy and Commerce oversight subpanel Chairman Cliff Stearns (R-Fla.), who opened the questioning.
DAILY CALLER: The law firms representing two prominent Solyndra executives are major Democratic Party donors, The Daily Caller has learned.
Reuters first reported that the bankrupt company’s CEO, Brian Harrison, and CFO, W.G. Stover, plan to refuse to talk openly to congressional investigators about how their company squandered $535 million in taxpayer money. They will invoke their Fifth Amendment right not to self-incriminate themselves at a House Energy and Commerce Committee hearing on Friday.
White House email warned of risky Solyndra venture; worried about potential political damage with 2012 coming up
WASHINGTON POST: A White House official fretted privately that the Obama administration could suffer serious political damage if it gave additional taxpayer support to the beleaguered solar-panel company Solyndra, according to newly released e-mails.
The firm had burned through millions of dollars and in January still tottered near collapse. The official wanted the government’s top budget official to warn Obama’s energy secretary about the risk, according to the e-mails.
NEW YORK TIMES: The 1,100 full- and part-time employees who were abruptly laid off two weeks ago aren’t the only ones whose paychecks have been affected by the sudden and dramatic failure of bankrupt solar energy company, Solyndra Inc.
Because for its brief lifespan, Solyndra proved to be pretty good for the lobbying community.
According to records filed with the Clerk of the House and a search of disclosure forms compiled by the Center for Responsive Politics, Solyndra spent nearly $1.9 million on lobbying activities over a period of 43 months from 2008 to 2011.
About $1 million of that was earned by the company’s two in-house lobbyists, Joseph Pasetti and Victoria Sanville, over an 18-month period from 2010 until this year. But Solyndra has also had several big-name lobbying shops on its payroll, including established powerhouses Dutko Worldwide and Holland and Knight, which began representing the then-fledgling company in 2008.
This “green jobs” scheme just isn’t working out as planned. Taxpayers hold the bag.
NATIONAL JOURNAL: The Obama administration is in a race against the clock to close by month’s end more than a dozen renewable-energy loan guarantees totaling $9 billion. Of that, just over $3 billion would come directly from the federal government’s coffers.
The administration now has two weeks to finalize the process amid an escalating political battle over a federally backed solar company spiraling into bankruptcy and facing an FBI probe. President Obama once praised the company, California-based Solyndra, as “the true engine of economic growth.”
At a House hearing Wednesday, there was bipartisan concern about risking more taxpayer dollars on renewable energy projects that ultimately fail. While Republicans’ rhetoric was more heated, Democrats agreed it is a critical issue.
“Taxpayers have over $500 million at risk as a result of Solyndra’s bankruptcy,” said House Energy and Commerce ranking member Henry Waxman, D-Calif. “We need to understand what happened and how we can avoid future losses.”
In 2009, Solyndra was the first company to receive a federal clean-energy loan guarantee as part of the stimulus package. The Fremont, Calif.-based maker of solar photovoltaic systems then received photo-op visits from Obama, Vice President Joe Biden, and Energy Secretary Steven Chu, all touting the job-generating potential of solar and other renewable energy industries. But on Aug. 31, Solyndra shuttered operations, laying off its 1,100 workers while seeking Chapter 11 bankruptcy protection.
Under the Recovery Act that Obama signed into law in February 2009, the Energy Department’s loan guarantee office was given roughly $6 billion to help cover the financing of renewable energy companies applying for loans both with the Treasury Department’s Federal Financing Bank and with private lenders, such as banks. Congress has since peeled away about half of that for other purposes and left the department with just $2.4 billion for the renewable loan guarantee program.
That $2.4 billion allocated to the Energy Department pays for each renewable energy project’s “credit subsidy,” a fee worth usually around 10 percent of a loan and which helps defray costs if the loan fails. The Energy Department doesn’t disclose the credit subsidy rate of loans the government guarantees, so it’s unclear how much of that $2.4 billion remains.
STUNNING CLAIM: Obama White House pressured general to change testimony on new exploding scandal affecting U.S. national security
General had said that Obama donor’s new satellite broadband network might interfere with GPS systems the Pentagon needs to protect America
DAILY BEAST: The Pentagon has worried for months that a project backed by a prominent Democratic donor might interfere with military GPS. Now Congress wants to know if the White House pressured a general to change his testimony.
The four-star Air Force general who oversees Air Force Space Command walked into a highly secured room on Capitol Hill a week ago to give a classified briefing to lawmakers and staff, and dropped a surprise. Pressed by members, Gen. William Shelton said the White House tried to pressure him to change his testimony to make it more favorable to a company tied to a large Democratic donor.
The episode —confirmed by The Daily Beast in interviews with administration officials and the chairman of a congressional oversight committee —is the latest in a string of incidents that have given Republicans sudden fodder for questions about whether the Obama administration is politically interfering in routine government matters that affect donors or fundraisers. Already, the FBI and a House committee are investigating a federal loan guarantee to a now failed solar firm called Solyndra that is tied to a large Obama fundraiser.
Now the Pentagon has been raising concerns about a new wireless project by a satellite broadband company in Virginia called LightSquared, whose majority owner is an investment fund run by Democratic donor Philip Falcone.
According to officials familiar with the situation, Shelton’s prepared testimony was leaked in advance to the company. And the White House asked the general to alter the testimony to add two points: that the general supported the White House policy to add more broadband for commercial use; and that the Pentagon would try to resolve the questions around LightSquared with testing in just 90 days. Shelton chafed at the intervention, which seemed to soften the Pentagon’s position and might be viewed as helping the company as it tries to get the project launched, officials said.
This piece is all you need to read on this, for now
QUIN HILLYER-AMERICAN SPECTATOR: Start rattling the chains. Start ratcheting up the hue and cry. Fire up the masses. It’s long past time to force mass resignations at, and possible prosecutions of members of, the Obama Justice Department — and, more broadly, of the West Wing itself.
Forgive all the links, but the scope of the corruption is so large as to defy adequate descriptions, in a single column, of each abomination. The reality is that these Obama/Holder minions at DoJ are dangerous to the very heart of constitutional, republican (small ‘r’) government. Last fall in the Spectator‘s print edition I did a broad overview of the problems. In the September issue of The New Criterion, Andy McCarthy does a wonderful job outlining the problems with the Holder department and with other examples of Obamite executive overreach. Of course the Black Panther case, the dismissal of which I (on the Washington Times editorial page) and the Times‘ ace reporter Jerry Seper on the news side were the first toreport in print (I later discovered that the fabulous Michelle Malkin wrote on it online a day or two earlier), still hasn’t been adequatelyhandled. And the outrageous DoJ blocking of non-partisan elections in Kinston, N.C., solely to benefit the Democratic Party , is now being examined in the courts, with the administration having lost, big, in the latest round.
More recently, the burgeoning scandal of the “Fast and Furious” gun-running blow-up, already a huge embarrassment for the Justice Department, keeps moving closer to the White House. Homeland Security Secretary Janet Napolitano, for her part, denieddirect knowledge of this dangerous idiocy but as Dexter Duggan reports at the Wanderer (sign-in required), the U.S. Attorney who ran the moronic program, Dennis Burke, has been sponsored throughout his entire career by Napolitano. First he worked for her when she was a prosecutor; then (quoting Duggan), “After Napolitano ascended to the governorship in 2003, her chief of staff was none other than Dennis Burke, who went on to be a senior adviser to Napolitano when Obama made her his secretary of Homeland Security in 2009. Obama, however, soon put Burke into Napolitano’s old U.S. attorney job in Phoenix. Like Napolitano, Burke got the post as a political plum. It was expected the plum would ripen into bigger fruit, as it had for Napolitano.”