From Reince Priebus' op-ed in Politico:
. . . President Barack Obama, since taking officer, has showered his donors and allies with billions in federal dollars. A steady stream of grants and loans flows from the administration to Obama’s political cronies. And taxpayers foot the bill.
Energy investor Steve Westly is one such fundraiser who benefited royally. He bundled more than a half-million dollars for Obama’s 2008 campaign. Westly later won an appointment to the energy secretary’s advisory board. He chaired a board subcommittee on energy efficient building materials.
Conveniently, Westly’s investment firm invested heavily in firms that specialized in such products. Overall, Westly’s firms received more than $500 million from the Obama administration. That’s an awful lot of conflicts of interest for just one man.
Westly is not the only Obama fundraiser to be rewarded with plum appointments, insider access and taxpayer dollars. A 2011 investigation found that nearly 200 of Obama’s biggest political donors received jobs, advisory posts or federal contracts. The Washington Post reported earlier this year, “$3.9 billion in federal grants and financing flowed to 21 companies backed by firms with connections to five Obama administration staffers and advisers.”
Crony capitalism is common practice in the Obama administration. . . .
Labels: book3, ObamaCorruption