Frugal Café Blog Zone

Posted By Vicki McClure Davidson on September 21, 2011

Barack Obama visiting the Solyndra solar panel company on September 1, just before the company went bankrupt

Elected officials who “think” they’re so smart… Team Obama dismissed all the warnings from economic experts about Solyndra’s viability and granted the company a $535 million loan anyway. Now, the green-jobs solar panel company has gone bankrupt. But not before losing nearly half a billion dollars in taxpayers’ money.

The warning signs were clearly there. For years.

The Bush administration had already declined to grant Solyndra a federal loan, based on the very same reasons that the company has now gone belly up. But Obama’s team of spendthrift weasels fast-tracked the Solyndra request through, and it was granted during Obama’s first few weeks in office. Solyndra was also granted a special loan rate.

It’s important to also note that George Kaiser, one of the major investors in the doomed Solyndra, is also a key player and “bundler” in Obama’s fundraising efforts. Imagine that.

Cronyism on steroids. With our money.

And now, another Team Obama scandal is brewing with a company called LightSquared. Intrepid journalist and blogger Michelle Malkin has been digging into this — click here to read what she’s discovered about a January 2011 waiver from Obama’s administration for LightSquared, a waiver which reportedly “promised the politically-connected company a stunning corporate windfall,” and which “gave the company a green light to use its initial satellite bandwidth license for ‘exclusive terrestrial purposes.’”

A House panel has launched an investigation into the huge government loan granted to Solyndra and the waiver to LightSquared.

Political analyst and columnist Charles Krauthammer was interviewed last week on Sean Hannity’s show, and as usual, he eloquently explains the corrupt politics and cronyism of the Obama administration that has led to the Obama disaster of Solyndra.

Krauthammer and Hannity also discuss the “Ponzi scheme” of Social Security and how Pres. Obama is making no effort to fix the program.

Krauthammer: Solyndra Deal Was Lemon Socialism and Crony Capitalism

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