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Sunday, September 18, 2011

Obama Fundraiser Played Key Role in Program to Dole Out $25 Billion in Loans. Many to Obama Friends?

Pay to play, it's the Chicago way!

We're already beginning to learn more about the direct links between the Obama Administration and the failed Solyndra project with the potential loss of up to $527 million in taxpayer funds. Political pressure from the White House to approve the loan which heavily favored an Obama campaign contributor has yet to be explained.

Now we learn that  Steve Spinner, a top Obama fundraiser in 2008, played a key role at the Dept. of Energy passing out $25 billion in other loans. After passing out the goodies, Spinner left DOE and is now shaking down firms which may have been on the receiving end of federal funds.

The L.A. Times reports that:
Spinner, who raised at least $500,000 for Obama in 2008, is leading efforts to raise money from the technology industry for the president's reelection campaign. He did not respond to requests for comment Friday.

Last week, he invited Obama fundraisers who were in Chicago for a national finance committee meeting to the launch of the Technology for Obama fundraising program. In July, the Obama campaign credited Spinner with raising between $200,000 and $500,000 so far this year.

Spinner was a Silicon Valley investor who founded a sports and wellness company before he joined the administration in April 2009 after serving on Obama's transition team. He was named an advisor to Energy Secretary Steven Chu and was charged with helping oversee a loan guarantee program authorized by the American Recovery and Reinvestment Act, the economic stimulus program.
Those who referred to the Stimulus bill as a massive political slush fund were not far off the mark. The only jobs that appear to have been created are for rich Obama cronies and their friends.

Try as hard as they can, the Obama Administration will not be able to keep the appearance of gross impropriety buried under the rug much longer. With billions wasted and little or nothing to show for it American taxpayers will demand answers. Whether they get them or not is another story!

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