Wednesday, February 29, 2012

Uh Oh, Blue On Blue Cannibalism. Again

Landrieu blasts Salazar And Obama Over lies About Energy And Drilling

Must be election year. I wonder if Obama can keep is little kids in line. I don't think he can. A mile wide and an inch deep is his support.

The Stink Of Algae And Green Cronyism In ObamaLand

via Curmudgeonly and Skeptical

Thanks to some extensive research by the Washington Post, the magnitude of the scandal is now better defined.  Here’s what the WaPo found:
  • $3.9 billion in federal grants and financing flowed to 21 companies backed by firms with connections to five Obama Administration staffers and advisers.
  • Sanjay Wagle, a venture capitalist and Barack Obama fundraiser in 2008, went to work at the DOE in 2009, and guided $2.4 billion to companies in which his former firm, Vantage Point Venture, had invested. 
  • David Danielson, formerly of General Catalyst, joined a DOE mission to fund breakthrough technologies and directed $105 million to three General Catalyst portfolio firms.
  • David Sandalow was a highly compensated consultant in 2008 for Good Energies, a venture capital firm, before becoming an Assistant Secretary at DOE in 2009.  SolarReserve, a Good Energies investment, received a $737 million DOE loan.
  • Steven Spinner, got a job as an “adviser” at DOE after having been a campaign fundraising bundler for Obama.  Spinner’s wife worked for the global law firm, Wilson Sonsini Goodrich & Rosati  that specializes in clean technology companies.  WSG&R clients garnered $2.75 billion in DOE loans, including the now infamous $535 million for Solyndra. 
  • Steve Westly – an Obama campaign fundraising bundler in 2008 and 2012 – was the founder of the venture capital firm, the Westly Group, and an adviser to DOE Secretary Steven Chu.  Westly Group portfolio companies received $600 million in funding through the green-loan program.
  • David Prend is Managing General Partner at the Boston based venture capital firm, Rockport Capital Partners.   Prend also chaired a solar technologies advisory panel for the DOE, and had close ties with Energy Czar, Carol Browner.  The DOE pumped $550 million into various Rockport Partners supported firms, not including Solyndra in which Rockport Partners was a 7.5% stakeholder.  The DOE also funded electric-car battery company, Ener1 – a partner with Rockport portfolio car company Think - with a $118 million loan.  [Full article]