Obama’s Public Equity Scandals

As we know, Obama is throwing everything at Mitt Romney and hoping something will stick. This is the  Obama gameplan. Obama doesnt’ want to discuss, or run, on his record so Mitt’s Bain ties are the latest bullshit being flung. Obama has his own scandal involving how he has taken public equity from taxpayers and rewarded bundlers and donors with their money.

From WaPo:

● Raser Technologies. In 2010, the Obama administration gave Raser a $33 million taxpayer-funded grant to build a power plant in Beaver Creek, Utah. According to the Wall Street Journal, after burning through our tax dollars, the company filed for bankruptcy protection in 2012. The plant now has fewer than 10 employees, and Raser owes $1.5 million in back taxes.

● ECOtality. The Obama administration gave ECOtality $126.2 million in taxpayer money in 2009 for, among other things, the installation of 14,000 electric car chargers in five states. Obama even hosted the company’s president, Don Karner, in the first lady’s box during the 2010 State of the Union address as an example of a stimulus success story. According toECOtality’s own SEC filings, the company has since incurred more than $45 million in losses and has told the federal government, “We may not achieve or sustain profitability on a quarterly or annual basis in the future.”

Worse, according to CBS News the company is “under investigation for insider trading,” and Karner has been subpoenaed “for any and all documentation surrounding the public announcement of the first Department of Energy grant to the company.”

● Nevada Geothermal Power (NGP). The Obama administration gave NGP a $98.5 million taxpayer loan guarantee in 2010.The New York Times reported last October that the company is in “financial turmoil” and that “[a]fter a series of technical missteps that are draining Nevada Geothermal’s cash reserves, its own auditor concluded in a filing released last week that there was ‘significant doubt about the company’s ability to continue as a going concern.’ ”

● First Solar. The Obama administration provided First Solar with more than $3 billion in loan guarantees for power plants in Arizona and California. According to aBloomberg Businessweek report last week, the company “fell to a record low in Nasdaq Stock Market trading May 4 after reporting $401 million in restructuring costs tied to firing 30 percent of its workforce.”

● Abound Solar, Inc. The Obama administration gave Abound Solar a $400 million loan guarantee to build photovoltaic panel factories. According to Forbes, in February the company halted production and laid off 180 employees.

● Beacon Power. The Obama administration gave Beacon — a green-energy storage company — a $43 million loan guarantee. According to CBS News, at the time of the loan, “Standard and Poor’s had confidentially given the project a dismal outlook of ‘CCC-plus.’ ” In the fall of 2011, Beacon received a delisting notice from Nasdaq and filed for bankruptcy.

This is just the tip of the iceberg. A company called SunPower got a $1.2 billion loanguarantee from the Obama administration, and as of January, the company owed more than it was worth. Brightsource got a $1.6 billion loan guarantee and posted a string of net losses totaling $177 million. And, of course, let’s not forget Solyndra — the solar panel manufacturer that received $535 million in taxpayer-funded loan guarantees and went bankrupt, leaving taxpayers on the hook.

Amazingly, Obama has declared that all the projects received funding “based solely on their merits.” But as Hoover Institution scholar Peter Schweizer reported in his book, “Throw Them All Out,” fully 71 percent of the Obama Energy Department’s grants and loans went to “individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party.” Collectively, these Obama cronies raised $457,834 for his campaign, and they were in turn approved for grants or loans of nearly $11.35 billion. Obama said this week it’s not the president’s job “to make a lot of money for investors.” Well, he sure seems to have made a lot of (taxpayer) money for investors in his political machine.

All that cronyism and corruption is catching up with the administration. According to Politico, “The Energy Department’s inspector general has launched more than 100 criminal investigations” related to the department’s green-energy programs.

Read the full article here.

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In High School Year Book Obama Thanks Gay Drug Dealer, Not His Mom

Team Obama and the media want people to believe Obama is cool. Too bad his perceived coolness hasn’t fixed the economy or lowered the unemployment rate. The latest Obama expose is reveling to Americans who Obama is. Something the media failed to do in 2008, as they hid his documented love of being a pot smoking coke head slacker.

From BuzzFeed:

He was a long-haired haole hippie who worked at the Mama Mia Pizza Parlor not far from Punahou and lived in a dilapidated bus in an abandoned warehouse. … According to Topolinski, Ray the dealer was “freakin’ scary.” Many years later they learned that he had been killed with a ball-peen hammer by a scorned gay lover. But at the time he was useful because of his ability to “score quality weed.”

…

In another section of the [senior] yearbook, students were given a block of space to express thanks and define their high school experience. … Nestled below [Obama's] photographs was one odd line of gratitude: “Thanks Tut, Gramps, Choom Gang, and Ray for all the good times.” … A hippie drug-dealer made his acknowledgments; his own mother did not.

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On Economic Issues, 46% of Americans Consider Themselves Conservative, only 20% Self-Identify as Liberal

In other words, only 20% believe in Obama’s Keynesian economic theory of spending more than you have and blaming a guy that’s been out of office for 3.5 years.

From Politico:

There are more than twice as many Americans who consider themselves conservative on economic issues as opposed to liberal, according to a new Gallup Poll Friday.

Almost half of those surveyed, 46 percent, said their views about the economy are conservative, while just 20 percent said they were liberal. About a third, 32 percent, said they are moderate when it comes to the economy.

Americans are also more likely to be conservative than liberal on social issues — 38 percent said their views on social matters are conservative, compared with 28 percent who said they are liberal and 31 percent who said they are moderate.

From 2001 to 2008, an average of 42 percent of Americans identified themselves as being conservative on economic issues. In the past four years, this average climbed to 48 percent, along with a decline in people who said they hold moderate views on the economy.

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Democratic Private Equity Whores, Schumer (D), Kerry (D), Dubin (D) and Gillibrand (D), Remain Silent on Obama’s Hypocritical Bain Attacks

Democrats love those Wall Street fat-cats they proclaim to hate. However, they have no problem taking their money. Democrats aren’t as stupid as Obama. Obama has accepted cash from Bain and even has a Bain alum, Jeffrey Zeints, as his OMB director. See the hypocrisy? Other Democrats are keeping their mouths shut.

From WFB:

President Barack Obama’s attack on Bain Capital and private equity has evoked silence from leading allies in the Democratic Senate and vigorous opposition from prominent supporters. Those staying silent are also some of the heaviest recipients of Wall Street cash, according to a Washington Free Beacon analysis.

Standing silent during the controversy over Obama’s “Steel” ad, which blames Republican nominee Mitt Romney for mass layoffs at several factories (of which took place after Romney left the company) are some of the most media hungry Democrats on Capitol Hill.

Sen. Chuck Schumer (D., N.Y.), the third ranking Democrat in the Senate, and freshman Sen. Kirsten Gillibrand (D., N.Y.), declined a New York Times interview to discuss the controversy on Wednesday. Neither senator has returned calls from the Washington Free Beacon, nor did second ranking Democrat, Illinois Sen. Dick Durbin, and former presidential candidate Sen. John Kerry (D., Mass.).

“Many top Democrats are quietly hedging their bets. They’re thinking, ‘What if Obama doesn’t win?’ They’re still going to be in D.C.,” said a top Senate Republican aide. “What you’re seeing could be one of the first indicators that not all Democrats are confident Obama can hold on.”

The silence from Democratic leadership has surprised Nicole Gelinas of the Manhattan Institute, a free-market think tank.

“These guys aren’t shy about criticizing the banks,” she said. “Durbin was out there talking about Bank of America for charging $5 debit fee charges, which they didn’t even go through with … It’s curious.”

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Police Suspect Al Sharpton and Singer Wyclef Jean of Money Laundering Drug Money for Drug King Pin

Al has been and always will be a crook! He’s also an Obama advocate.

From DailyMail:

Police suspected singer Wyclef Jean and activist and TV host Reverend Al Sharpton of being involved in laundering drug money, Brooklyn federal court has heard.

Mr Jean allegedly received a $60,000 loan from hip hop manager James Rosamond, who is currently on trial for drug charges, and Mr Sharpton was allegedly given a $10,000 donation by the suspected drug kingpin, according to thesmokinggun.com.

Testifying on Wednesday, Internal Revenue Service agent Marc Van Driessche described how federal investigators also quizzed Mr Rosamond about his relationship with Sean ‘P. Diddy’ Combs during meetings to try to strike a cooperation agreement.

On October 4, during the first of nine grilling sessions, Mr Rosemond was asked about Mr Combs, also known as Puff Daddy, because ‘we had information through other witnesses that the defendant many have made an admission to Sean Combs,’ Mr Van Driessche said.

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Obama’s Federal Deficit Numbers Revised UP…Fuzzing Accounting Tricks Hide Obama’s Spending

Someone tell Obama he’s spending too much because the fool is running on the claim that he wants to reduce the deficit…again.

From USA Today:

The typical American household would have paid nearly all of its income in taxes last year to balance the budget if the government used standard accounting rules to compute the deficit, a USA TODAY analysis finds.

Under those accounting practices, the government ran red ink last year equal to $42,054 per household — nearly four times the official number reported under unique rules set by Congress.

A U.S. household’s median income is $49,445, the Census reports.

The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules.

The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the government’s books.

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Why Didn’t Liberal Media Cover Obama’s Primary Numbers: 42% of Kentucky Democrats Voted “Uncommitted” Instead of Obama in Primary

The media is in full cover Obama’s ass mode. None of the big networks like ABC, CBS or NBC ran a single story about Obama’s primary problems. In Kentucky, 42% of Democrats voted “uncommitted” instead of Obama. Obama was running unopposed. This is an embarrassment and the media didn’t cover it for this very reason. Democrats across the country are fleeing Obama, yet the media feels this is a non-issue.

Newsbusters points out the media’s failure to report these facts.

42 percent of Democratic primary voters in Kentucky on Tuesday chose “uncommited” over Barack Obama. In Arkansas, a Tennessee attorney finished with 41 percent of the vote. ABC’s Good Morning America, NBC’s Today and CBS This Morning all skipped the embarrassing story, despite the fact that CBS and NBC covered the far less interesting Republican primary.

During the month of May, Obama suffered through a series of humiliating protest votes in Democratic primaries. On May 8th, the incumbent President nearly lost the West Virginia primary to a convicted felon. Yet, except for a single mention at 4am on May 9th, the networks have buried Obama’s bad news.

Today news reader Natalie Morales explained, “Just under six months to go until election day and Republicans are coming together behind Mitt Romney, who picked up victories in the Kentucky and Arkansas primaries on Tuesday.”

This Morning co-anchor Erica Hill boringly noted, “In the U.S. presidential race, Mitt Romney won primaries in Arkansas and Kentucky yesterday, bringing him closer to cinching [sic] the Republican nomination.”

Part of the news is reporting interesting things that happen. Mitt Romney winning yet another primary isn’t interesting.

A sitting Democratic President suffering his third primary protest vote against non-serious candidates is interesting. Or it should be to journalists concerned with facts and trends.

Such a protest vote should at least warrant a mention. Democratic voters going out of their way to register displeasure, despite the fact that Obama obviously will be their nominee, indicates anger and problems ahead for the President.

On May 9th, GMA, Today and CBS This Morning all skipped convicted felon Keith Judd earning 43 percent of the vote in West Virgnia. The only network program to cover it was the CBS Morning News, a show that airs at 4am.

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Memo to Media: Obama is a Spendthrift and the Numbers Prove This

Yes, President Obama is actually trying to change his record. Obama wants to believe the $5 trillion plus he has added to the national debt isn’t really his fault and is citing an article, not CBO or his OMB numbers, as proof. As with all Obama numbers, fact-checking is needed.

From IBD:

Budget: You wouldn’t think that, after adding $5 trillion to the U.S.’ debt, President Obama would seriously claim he’s a fiscal hawk. But thanks to a misleading article on CBS’ MarketWatch site, that’s just what he’s doing.

‘Since I’ve been president, federal spending has risen at the lowest pace in nearly 60 years,” Obama said on Wednesday. “Think about that.”

Obama didn’t turn to his own Office of Management and Budget to support this fact, or even the non-partisan Congressional Budget Office.

Instead, he went to a CBS MarketWatch column by Rex Nutting, which claims spending under Obama has risen by an average of just 1.4%.

“Federal spending,” he wrote, “is rising at the slowest pace since Dwight Eisenhower brought the Korean War to an end in the 1950s.”

Nutting even posted a chart to “prove” his case, which appears to show average annual spending hikes under Obama coming in well under that of his predecessors.

Not surprisingly, this “fact” lit up the left-wing blogosphere, with the White House quickly parading the article to dismiss GOP attacks.

There’s just one problem. Nutting had it wrong.

In fact, he made two significant mistakes that have the effect of hiding Obama’s huge spending spree, mistakes that even Nutting’s conservative critics missed.

The first is that Nutting apparently failed to understand how the government accounted for TARP in the federal budget.

TARP wasn’t a spending program. It was a loan to troubled banks that those banks were supposed to pay back, with interest.

Nevertheless, when the government handed out TARP loans in fiscal year 2009, they showed up in the budget as regular outlays, adding $154 billion to the official spending number that year.

And when banks started paying the loans back in 2010, the money was subtracted from spending that year, making federal outlays look $108 billion smaller than they actually were.

In 2011, TARP artificially subtracted another $38 billion from spending, according to the Congressional Budget Office.

Because Nutting didn’t factor this in, he ends up greatly exaggerating spending under Bush in 2009 — which Nutting counts as Bush’s last budget since the first four months were on Bush’s watch — and undercounting Obama’s real spending hikes in 2010. (We asked Nutting by email if he was aware of this oversight and have not heard back.)

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Civility? Obama Campaign Organized Black Community To Protest Romney’s Stop in Philadelphia

What happened to Obama’s call for civility and a new tone? Obama continues to prove he’s a divider. Notice the Obama 2012 campaign sign?

From WaPo:

When Mitt Romney came to an inner-city charter school here Thursday to promotehis new education agenda, he received something of a history lecture about the persecution of blacks in America and the struggles of African American children to meet the academic achievements of their white counterparts.

Gee, is it because some don’t take education seriously? A lot of parents tend to use schools as a baby-sitter and don’t get involved in their children’s education…it must be racism that causes this no doubt.

Seeking to broaden his appeal heading into the general election, Romney was venturing for his first time in this campaign into an impoverished black neighborhood to hear the concerns of local educators and community leaders. But here in the streets of West Philadelphia, the emotion surrounding his contest with the nation’s first black president was raw, as dozens of neighborhood residents shouted, “Get out, Romney, get out!”

If this was done to Obama by Romney supporters this would be called racism.

Romney arrived at Universal Bluford Charter School aboard his logo-emblazoned campaign bus and began his morning visit by meeting school and civic leaders at a formal roundtable session. “I come to learn, obviously, from people who are having experiences that are unique and instructive,” he said.

…Outside, meanwhile, some brick row houses across from the school were boarded up. Police had cordoned off a full city block to protect Romney and his entourage. Residents, some of them organized by Obama’s campaign, stood on their porches and gathered at a sidewalk corner to shout angrily at Romney. Some held signs saying, “We are the 99%.” One man’s placard trumpeted an often-referenced Romney gaffe: “I am not concerned about the very poor.”

I’m guessing these fools voted for Obama because of skin color and don’t know Obama is against charter schools for black children..except his own. I suspect many of these Obama supporters don’t know Obama has zero experience in black communities or schools, but skin color seems to be the only concern for some.

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H/T to Gateway Pundit

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Liberal Logic: Credit and Blame

H/to LiberalLogic101

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