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| Economy |
| Obama Fundraisers Tied to Green Firms That Got Federal Cash |
| 2011-09-30 |
| Several of Barack Obama's top campaign supporters went from soliciting political contributions to working from within the Energy Department as it showered billions in taxpayer-backed stimulus money on alternative energy firms, ABC News and iWatch News have learned. One of them was Steven J. Spinner, a high-tech consultant and energy investor who raised at least $500,000 for the candidate. He became one of Energy Secretary Steven Chu's key loan program advisors while his wife's law firm represented a number of companies that had applied for loans. Recovery Act records show Allison Spinner's law firm, Wilson Sonsini Goodrich & Rosati, received $2.4 million in federal funds for legal fees related to the $535 million Energy Department loan guarantee to Solyndra, a solar company whose financial meltdown has prompted multiple investigations. She pledged to take no portion of the money and did not work on the loan applications. Spinner was not the only Obama political supporter to play a role at the Energy Department. California venture capitalist Steve Westly, who raised more than $500,000 for Obama, had Secretary Chu's ear on green energy issues as a member of a high-level volunteer advisory panel. Mackey Dykes, who was a finance manager for the Obama campaign, was hired to be the liaison between the Energy Department and White House. Each declined interview requests. Obama's political supporters were also investors in companies that had applied for loans. Westly has held stakes in at least five companies that have won DOE support. Oklahoma billionaire George Kaiser, another Obama bundler, was the biggest private backer of Solyndra. Westly, Spinner and the CEO of Allison Spinner's law firm, John V. Roos, (now Obama's ambassador to Japan), each raised more than $500,000 for Obama's 2008 campaign. |
| Posted by:Eohippus Phater7165 |
| #2 "Obama Fundraisers Tied to Green Firms That Got Federal Cash" In other news, water is wet. >:-( |
| Posted by: Barbara 2011-09-30 18:49 |
| #1 and 60 Minutes just slept. |
| Posted by: jack salami 2011-09-30 17:42 |