Despite getting unreal low interests rates, the energy tech firm, Solyndra, closed up its doors, let 1,000 employees go and did absolutely nothing with the $535 million loan from its good friend, Barack H. Obama.

ABC News reports

The $535 million loan to Solyndra Inc., issued by the U.S. Department of Treasury’s Federal Financing Bank, included a quarterly interest rate of 1.025 percent, the government bank reported in July. Of 18 Energy Department loans cited in the bank’s report, Solyndra’s rate was lowest. Eight other Energy Department projects, each also backed by the Federal Financing Bank, came with rates three or four times higher, the report shows.

That treatment is in keeping with the history of the loan to the California solar panel maker, an arrangement inked in September 2009 with great fanfare — and touted, not long after, during a factory visit from the president. Monthly government bank reports filed since then reveal Solyndra’s rate as the lowest for any energy-related project in nearly every report; in every case its rate was well below that of most energy projects, which ranged from cutting-edge electric car makers to wind and solar ventures. …

Solyndra’s most prolific financial backer is George Kaiser, an Oklahoma oil billionaire who was a bundler of campaign donations for Obama’s 2008 race. Kaiser’s Argonaut Ventures and its affiliates have been the single largest shareholder of Solyndra, according to SEC filings and other records. The company holds 39 percent of Solyndra’s parent company, bankruptcy records filed Tuesday show.

It seems that Solyndra was a high risk firm to start, which adds even more questions as to how they were able to secure such a large loan at extremely low rates. Then again, the answers are not that hard to come up with.

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A Schwarzenegger hangover saved California Democrats from a wipeout as the Tea Party wave washed harmlessly up the High Sierra’s eastern slope.  Democrats won eight of nine statewide offices, with the race for attorney general looking more Republican as the late ballots get tallied.  Democrats also racked up their largest State Assembly majority since the Watergate blowout year of 1974 (52 seats of 80).  And, the passage of union-sponsored Prop. 25 allows Democrats to enact a budget with a simple majority vote.  But for visual confirmation of this election’s connection to the failed “Republican” governor, one need only look at governor-elect Jerry Brown’s ad showing Arnold Schwarzenegger side-by-side with Meg Whitman uttering the same platitudinous inanities we’ve come to expect from self-funded dilettantes who neither have the time to vote nor the inclination to first seek a lesser office so as to gain political experience.

It isn’t hard to see where things went awry in California: just look back to the heady years of the historic 2003 recall of Gray Davis.  Davis was swept out of office due a massive deficit brought on by his rapid expansion of state government during the dot com economy combined with his mishandling of the state’s electricity crisis.  Candidate Schwarzenegger won on a platform of “blowing up the boxes” of bureaucracy while “cutting up” the state’s “credit cards” – Schwarzenegger did neither.  Instead, he gave California seven years of uneven leadership, veering from the right to the left while calling his erratic leadership “post-partisanship.” Schwarzenegger pushed through the largest state tax increase in U.S. history, expanded government spending, debt and regulatory hurdles while shrinking the sphere of liberty – curious actions for a self-avowed fan of the late Milton Friedman.  Schwarzenegger’s voter approval rating hit 22 percent this summer, matching Gray Davis’ recall-eve rating – something Davis, if he wishes to indulge in schadenfreude, might see as poetic symmetry.

While the Democrats had a great election night in the Golden State, there are some signs of hope for the majority of Californians who don’t take their ideological cues from San Francisco.

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Just when you thought it was safe to accept a White House Job offer, the Joe Sestak Job scandal has reared its ugly head once again. Silent through the mess, former President Bill Clinton has finally spoken and denied the White House explanation that he met with Joe Sestak to offer him an administration job to drop out of the Democratic Primary against soon to be former Senator Specter.

WBRE-TV in Pennsylvania has reported that former President Bill Clinton denied any involvement in trying to maneuver Sestak out of the race. (Source: House oversight committee, personally confirmed with the evening assignment manager of WBRE via phone call on 8/11):

“Clinton denied it to EyeWitness news, saying he never tried to get Sestak out of the race and has never been accused of it.”-WBRE-TV, 8/10/10

[Update: A reporter caught up with Clinton at a recent event and asked him directly:]

Now compare the above to what Sestack and the White House said in late May when Bill Clinton’s role in the Sestak affair was announced, first by the administration, then by the Pennsylvanian Congressman:

“Last summer, I received a phone call from President Clinton. During the course of the conversation, he expressed concern over my prospects if I were to enter the Democratic primary for U.S. Senate and the value of having me stay in the House of Representatives because of my military background. He said that White House Chief of Staff Rahm Emanuel had spoken with him about my being on a Presidential Board while remaining in the House of Representatives.

The letter issued by the White House Attorney Robert Bauer at the end of May when President Clinton’s involvement was announced said in part:

“We found that, as the Congressman has publicly and accurately stated, options for Executive Branch service were raised with him. Efforts were made in June and July of 2009 to determine whether Congressman Sestak would be interested in service on a Presidential or other Senior Executive Branch Advisory Board, which would avoid a divisive Senate primary, allow him to retain his seat in the House, and provide him with an opportunity for additional service to the public in a high-level advisory capacity for which he was highly qualified. The advisory positions discussed with Congressman Sestak, while important to the work of the Administration, would have been uncompensated.”

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The Hill revealed yesterday that Rep. Jan Schakowsky (D-IL) and three other Chicago Democrats have written a letter to Secretary of the Treasury Tim Geithner, asking him to release $70 million in federal TARP funds to bail out ShoreBank. ShoreBank’s political patrons have made Geithner their number one target, ever since the Treasury balked on supporting one of the most brazenly corrupt bailouts of the past several years.

Bill Brandt, chairman of the Illinois Finance Authority (IFA), launched the first attack last month: “It’s now clearer than ever to me that while [Geithner]’s happy to have these people clean his apartment and those of his cronies on Wall Street, he’s not comfortable with them getting mortgages for their homes.” Ironically, the IFA itself declined to bail out ShoreBank when Schakowsky’s overtures to the State of Illinois were exposed. (more…)

One would think that the President of the United States would have enough respect for the people who put him in office to offer an explanation that was remotely believable.

The White House released an explanation of the Job offer. The claim is that Rahm Emanuel sent Bill Clinton to meet with Congressmen Sestak to offer an unpaid advisory position which he would hold along with his congressional job if he were to give up his quest for the Democratic nomination.

The letter issued by the White House Attorney Robert Bauer (embedded below) says in part:

“We found that, as the Congressman has publicly and accurately stated, options for Executive Branch service were raised with him. Efforts were made in June and July of 2009 to determine whether Congressman Sestak would be interested in service on a Presidential or other Senior Executive Branch Advisory Board, which would avoid a divisive Senate primary, allow him to retain his seat in the House, and provide him with an opportunity for additional service to the public in a high-level advisory capacity for which he was highly qualified. The advisory positions discussed with Congressman Sestak, while important to the work of the Administration, would have been uncompensated.”

“White House staff did not discuss these options with Congressman Sestak. The White House Chief of Staff enlisted the support of former President Clinton who agreed to raise with Congressman Sestak options of service on a Presidential or other Senior Executive Branch Advisory Board. Congressman Sestak Declined the suggested alternatives, remaining committed to his Senate candidacy.”

Come on, do they really mean to tell us that it took the best and brightest in America ten weeks to come up with that?

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In a response to Pennsylvania Attorney General Tom Corbett’s decision to join 13 other states in filing a lawsuit against the federal health care legislation, PA House Appropriations Chairman Dwight Evans threatened to “do whatever it takes” to thwart the AG’s efforts. Incensed, Evans even went so far as to say he would be willing to cut off all state appropriations to the Office of the Attorney General to prevent Corbett from fighting this legislation. Here is the key quote from Evans:

We are accountable to the voters of this state. He [Corbett] cannot think that he can do whatever he wants with taxpayer money. No one can protect him from being accountable.

For starters, Evans should think about following his own advice, as he is one of the most notorious proponents of “WAMs” in the Pennsylvania Legislature, using taxpayer dollars going to fund his own community group and a failed nightclub venture.

Second, President Obama, Gov. Rendell, and others used far more taxpayer funding – with no objection from Evans – on their public relations campaign on  health care reform than any lawsuit by the AG would cost. Tax dollars were used for everything from rallies to newsletters to press conferences.

Furthermore, Evans’ threat seems a clear violation of the separation of powers, and threatens the independence of the Attorney General. Indeed, it seems particularly curious, coming a mere two days after Corbett secured a conviction against Evans’ former House Democrat colleague Mike Veon, and is continuing his investigation and prosecution of House Democrats.

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It all started in Chicago. Rick Santelli’s call to arms was broadcast from Chicago. The first Tea Party was last year on a cold day in February.  I heard you.  We need a new generation of leaders that will serve the people, not the political class.  My campaign for Governor started because I heard you and I still hear you.

The Tea Party movement is now a year old and what better place to celebrate the movement than in Chicago. We will be at the Dierksen Federal Building plaza at 2:30pm having a rally in honor of the movement and to celebrate all that we’ve accomplished.

I’m also bringing in someone who knows a little something about freedom and just a few decades ago he was fighting in Eastern Europe and Ronald Reagan stood at his side. Lech Walesa will be addressing the gathering to tell us about his struggles.

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I first met up with Tom Tresser when I went to my first Olympics townhall event in the summer. Tresser lead the citizen activist group, No Games Chicago. They opposed the bid, as most have probably figured out. Tresser represented No Games, and their position, in the forum. Here’s how I described Tresser’s best argument that night:

Tresser, on at least five occasions, referred to Daley by the moniker corrupt. No one supporting the bid ever challenged this characterization. Instead, their defense was that the bid was a private non profit effort that is separate from the mayor’s office

The corruption in Chicago’s City Hall was the number one reason to oppose the Olympics coming to this city. While the Olympics aren’t going to be here, the corruption is a major reason, the corruption hasn’t gone away with it. In fact, it’s a part of daily political life in the city of Chicago, the County of Cook, and the state of Illinois in its entirety. (more…)

Government employee union officials have enjoyed a big advantage over their political competitors: the power to compel members to contribute funds to their causes.

Such political power has served as a massive force in favor of the unsustainable spending that has forced cities like Vallejo, California into bankruptcy with unrealistic salaries and pension benefits for their unionized employees.

Normally only a tiny fraction of Americans choose to donate to candidates or political causes. Yet many government employee unions enjoy the power to compel virtually all of their members into supporting the unions’ advocacy, regardless of how the individual worker feels about that agenda.

That’s one heck of an advantage on the political battlefield, but it comes at the price of forcing, for example, Republican union members to fund Democrat campaigns. Or, conversely, Democrats in Pennsylvania funding then-Republican Arlen Specter’s re-election.  It’s wrong, and abuse of the practice has led states like Utah and Idaho to ban the practice.

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Democrats are feeling stimulated these days.  In a recent study, Jerry Brito and Veronique de Rugy of the Mercatus Center tracked stimulus spending in all 435 congressional districts plus the District of Columbia.  They found that the amount of stimulus money received by a district was influenced by its partisan representation, rather than economic need. Districts with a Democratic congressman received almost twice as many dollars as those with Republican representation, whereas there was no relationship between a district’s unemployment level and the amount of stimulus money it received.

Barack Obama has broken many campaign promises since taking office, but when it comes to the comparisons to Franklin Delano Roosevelt saddled on him by his adorning followers in the media, he has worked hard to live up to the hype.  We already knew that both dishonestly campaigned against the excessive spending of their predecessors before breaking the bank on their own watch.  Now we also know that President Obama, like FDR, has abused a crisis atmosphere to direct economic relief funds for partisan purposes.

Patronage was instrumental in protecting the incumbent Democratic Party in the first mid-term election under FDR, despite an unemployment rate that surpassed 20 percent.  His administration targeted swing districts for infusions of federal dollars – spending money not to increase employment, but to maximize electoral gains.  He succeeded.  Democrats expanded their majorities by nine seats in both chambers.

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A new citizen action group is committed to exposing the danger that ACORN and the Working Family Party poses to our democracy based on their record of subverting elections through voter fraud, falsifying petitions and engaging in absentee ballot fraud for favored candidacies, looting government housing programs, blackmailing corporations and cheating the public campaign finance system.

Nutbusterz will serve serve as a clearinghouse for media coverage of the illegal activities of ACORN. Media reports on ACORN and the New York Working Families Party (WFP) will be updated daily. Candidates and causes that ally themselves with ACORN will be exposed and held to account.

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