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Romney Campaign Press Release - Obama's Warped View Of The Free Market: Cronyism Over Job Creators

May 31, 2012

"While President Obama has spent the last three years punishing job creators, he's been busy showering taxpayer dollars on his political allies and donors, like those involved in the Solyndra fiasco. After job losses and billions of dollars wasted, the results are clear – President Obama's allies won while job creators and millions of struggling Americans have lost." –Andrea Saul, Romney Campaign Spokesperson

President Obama's Poster Child Of Failed Energy Investments – Solyndra – Was Backed By Obama Donors And Advisors:

"One Of Solyndra's Major Investors Was George Kaiser, An Oklahoma Billionaire Who Raised Between $50,000 And $100,000 For Obama During The 2008 Election." (Ronnie Greene and Matthew Mosk, "Obama-Backed Solar Firm Collapses After Big Federal Loan Guarantee," iWatch, 8/31/11)

  • "Through His Corporate Affiliates, Kaiser Has Long Stood As Solyndra's Single Largest Investor." (Ronnie Greene, "Recurring Red Flags Failed To Slow Obama Administration's Race To Help Solyndra," iWatch, 9/13/11)
  • "Kaiser Made 16 Visits To The President's Aides Since 2009, According To White House Visitor Logs." (Jim Snyder, "FBI Raids Bankrupt Solyndra As Lawmakers Question Panel Maker's Finances," Bloomberg, 9/9/11)

Steve Westly – Another Obama Bundler – Is Linked To The Solyndra Scandal. "The list also includes two bundlers linked to Solyndra, the controversial solar company that received a $528 million federal loan and later declared bankruptcy — Steven Spiner and Steve Westley. The White House decision to approve the loan triggered a congressional probe on whether the deal smacked of political favoritism." (Carle Campanile, "Obama's 'Bundled' Up With Corzine," New York Post, 2/1/12)

Steve Spinner – "An Elite Obama Fundraiser" – Presided Over The Energy Investment Program And "Pushed And Prodded" For Solyndra Loan Approval While His Wife's Law Firm Represented The Company. "An elite Obama fundraiser hired to help oversee the administration's energy loan program pushed and prodded career Department of Energy officials to move faster in approving a loan guarantee for Solyndra, even as his wife's law firm was representing the California solar company, according to internal emails made public late Friday." (Matthew Mosk, "Obama Fundraiser Pushed Solyndra Deal From Inside," ABC News, 10/7/11)

But President Obama's Cronyism Didn't Stop With Solyndra – The Obama Administration Showered Taxpayer Dollars On "Friends And Family":

The Washington Post: "You Can Call It Crony Capitalism Or Venture Socialism — But By Whatever Name, The Energy Department's Loan Guarantee Program Privatizes Profits And Socializes Losses." (Editorial, "The Energy Department's Loan Guarantee Program Is The Real Solyndra Scandal," The Washington Post, 11/17/11)

"$16.4 Billion Of The $20.5 Billion In Loans Granted As Of Sept. 15 Went To Companies Either Run By Or Primarily Owned By Obama Financial Backers." "In the 1705 government-backed-loan program, for example, $16.4 billion of the $20.5 billion in loans granted as of Sept. 15 went to companies either run by or primarily owned by Obama financial backers-individuals who were bundlers, members of Obama's National Finance Committee, or large donors to the Democratic Party." (Peter Schweizer, "Obama Campaign Backers And Bundlers Rewarded With Green Grants And Loans," Newsweek, 11/12/11)

The Energy Department's Inspector General Found That Contracts Were Steered To "Friends And Family." "The Department of Energy's inspector general, Gregory Friedman, who was not a political appointee, chastised the alternative-energy loan and grant programs for their absence of 'sufficient transparency and accountability.' He has testified that contracts have been steered to 'friends and family.'" (Peter Schweizer, "Obama Campaign Backers And Bundlers Rewarded With Green Grants And Loans," Newsweek, 11/12/11)

Obama Bundlers Worked In His Department Of Energy "As It Showered Billions In Taxpayer-Backed Stimulus Money On Alternative Energy Firms." "Several of Barack Obama's top campaign supporters went from soliciting political contributions to working from within the Energy Department as it showered billions in taxpayer-backed stimulus money on alternative energy firms, iWatch News and ABC News have learned." (Ronnie Green and Matthew Mosk, "Bundlers On The Inside," iWatch, 9/29/11)

Mitt Romney, Romney Campaign Press Release - Obama's Warped View Of The Free Market: Cronyism Over Job Creators Online by Gerhard Peters and John T. Woolley, The American Presidency Project

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