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Crony Capitalism -- your tax dollars at work
November 14, 2011 at 12:34 AM
Obama Campaign Backers and Bundlers Rewarded With Green Grants and Loans
If anyone was wondering why a couple presidential candidates want to get rid of the Department of Energy, there's part of it.
Quote :The Government Accountability Office has been highly critical of the way guaranteed loans and grants were doled out by the Department of Energy, complaining that the process appears "arbitrary" and lacks transparency.
These programs might be the greatest—and most expensive—example of crony capitalism in American history. Tens of billions of dollars went to firms controlled or owned by fundraisers, bundlers, and political allies, many of whom—surprise!—are now raising money for Obama again.
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