Naming Names – Obama Contributors and the Stimulus Scandal
Naming Names – Obama Contributors and the Stimulus Scandal (Page 1 of 2)
A who's who list of Barack Obama contributors and recipients of his $787 billion stimulus program. Image courtesy of michaelcostello.blogspot.com
March 27, 2012. Washington. In this third of a three-part Whiteout Press series titled Naming Names, we expose President Obama’s $787 billion dollar Stimulus Program. We give you the names of the individuals guilty of diverting the stimulus funding to the President’s campaign contributors. We also expose the people and companies that donated to the Obama campaign and then found themselves showered with billions in stimulus funding, much of it undocumented and undeserved. The names involved are shocking, including the richest men on Earth, current and former US Senators and even a past Vice President. But the one person at the center of it all is President Barack Obama.
All of the below information comes from the recently published book, ‘Throw Them All Out’ by Peter Schweizer. Just like the first installment of this Whiteout Press special series, ‘Naming Names – Congressman Guilty of Insider Trading’, Schweizer digs out the dirty details of President Obama’s stimulus spending and matches it up with the seemingly endless list of Barack Obama campaign contributors. What Schweizer discovers is a shocking overlap between the two. In an audit of just one stimulus program by the Dept of Energy, the agency found that $16.4 billion of the total $20.5 billion allocated went directly to Obama campaign contributors. After tireless investigation, it turns out that one program was indicative of the President’s entire trillion dollar stimulus program. The book ‘Throw Them All Out’ is a must read – order it here and help Whiteout Press at the same time.
All of the details within this article come from the book, 'Throw Them All Out' by author Peter Schweizer. Order your own copy right here!
Peter Schweizer sums up what his research revealed by explaining, “Beginning in 2009, the U.S. embarked on the greatest reverse-Robyn Hood transfer of wealth in history. Tax money was taken from all, rich and poor, and given to billionaires.”
Barack Obama’s strategy to take taxpayer funds and turn them into campaign contributions was simple, only in reverse. With tens of millions in campaign contributions to the future President came an implied promise to reimburse that money out of the US Treasury, sometimes ten-fold, one hundred-fold or one thousand-fold. To make it happen, the President and his donors used a dozen key individuals to facilitate the transaction. Those individuals quietly moved between three common professions over the time period the operation was in effect.
They were either ‘bundlers’ for Barack Obama’s fundraising team, meaning they collected donations from a number of individuals and corporations and combined them into one, very impactful contribution. They were on Barack Obama’s official staff, advising the candidate and President on any of a number of issues. Or they were employed by a for-profit corporation where they had no knowledge or understanding of what the company did. Their only value was the connections these individuals had to Washington DC and politician like then US Senator Barack Obama, or in the cases of Warren Buffett and George Soros, Illinois State Senator Obama..
These key individuals played musical chairs between the three positions, guiding money and influence from the President’s contributors to the White House and back again. According to Peter Schweizer’s book, his research reveals that at least ten members of President Obama’s Finance Committee and more than a dozen of his fundraising ‘bundlers’ found themselves conveniently employed at corporations that received billions in stimulus funding. Others began at these same corporations and quietly moved into key staff positions in the Obama Energy Dept, where they shepherded stimulus money back to the corporations they just came from.
Rather than plagiarize Mr. Schweizer’s incredibly insightful book ‘Throw Them All Out’ and reprint too much of the specific detail, we’re going to name the names and quote some of the raw data and notes to give our readers a basic understanding of the role each played in the scandal that traded stimulus funds for campaign contributions.
Summarized from the book ‘Throw Them All Out’ by Peter Schweizer
These are the key players responsible for diverting stimulus money to Barack Obama and DNC campaign contributors. If investigators are looking for a smoking gun, the below individuals are the ones with gun powder residue on their hands. After these individuals’ first 18 loans, the GAO audited the financial transactions and “found that NONE were properly documented.”
The Inside Players
- Steve Spinner: Obama donor, then Obama fundraiser, then Dept of Energy executive, then White House Business Council. Spinner was in charge of giving away the trillion dollar stimulus money to deserving companies.
- Sanjay Wagle: Obama donor and fundraiser, then White House ‘Grant Advisor’.
- Jonathan Silver: Clinton and Obama administration insider, then Executive Director of Dept of Energy Loan Division.
- Cathy Zoi: Assistant Secretary of Energy.
The following individuals found themselves in one or more of three key positions in the stimulus for contributions scandal. They either worked for a stimulus recipient, worked in the White House or the Energy Dept, or owned all or a portion of the companies receiving stimulus money. Some held all three positions at various times. All companies, corporations, banks and investment firms mentioned were donors to either Barack Obama or the Democratic Party, as well as recipients of taxpayer stimulus funding.
- Goldman Sachs: Owns Cogentrix and US Geothermal. Donated over $1 million to Barack Obama. Received $96.8 million in stimulus funding.
- BP Oil: Gave more money to Barack Obama than to any other candidate in 20 years. BP Oil received $308 million in stimulus funding. BP Oil was the only oil company in the world to receive free stimulus grants. A government audit revealed that the $308 million created a total of 23 jobs.
- Nancy Ann DeParle: Granite Reliable Wind, CCMP Capital, White House Deputy Chief of Staff.
- Steve Westly: Owned interests in Tesla, Recyclebank, Edinq, Amirys Biotech. Was an Obama donor, then Obama campaign Chair, then appointed to President Obama’s Dept of Energy Advisory Board. Took part ownership to two more stimulus recipients; Amonix and Cal Star Products.
- Ian Cumming: CEO of Leucadia National, owns Leucadia Energy which has only 1 employee. Appointed to Obama’s National Finance Committee. Received $3.4 billion in stimulus funding.
- Louis Susman: Vice Chair of Citigroup Global Partners, part owner of Solar Trust America, Obama bundler, appointed to Obama’s National Finance Committee. Received $2.1 billion in stimulus funding.
- Michael Freeman: Obama classmate, then Obama bundler, then Citi-Alternatives CEO, then Deputy White House National Security Advisor. Citi-Alternatives was part owner of Solar Reserve which received $737 million in stimulus funding from the Dept of Energy.
- Robert Kennedy Jr.: Son of the famous Robert Kennedy. Brightsource and Vantage Point Partners (25% owner). After his high-profile endorsement switch from Hillary Clinton to Barack Obama, Kennedy’s company took home $1.4 billion in stimulus funding.
- Pat Stryker: Owns Bohemian Co. and Abound Solar. Made $1.4 million in contributions to Barack Obama and the DNC. Received $400 million in grants from the Obama administration.
- Jim Rogers: Duke Energy CEO. Used Duke Energy corporate money to guarantee a $10 million line of credit to the DNC for the 2012 Democratic Presidential nominating convention. Received $290.4 million. An audit revealed that $90.4 million in stimulus money was paid to Duke for a project that had long been completed already.
- Bob Nelson: Member of Obama’s National Finance Committee. Founding Partner of ARCH Venture Partners which owns Sapphire Energy. Received $135 million in stimulus funding.
- Michael Polsky: Obama donor, DNC donor. Paid for part of Barack Obama’s 2009 inauguration. CEO of Invenergy LLC, which owns Vantage Wind. Received $128 million in stimulus funding.
- Eric Redmond: Former Democratic Senate staffer. DNC donor. CEO of Summit Energy. Received $1.5 billion in stimulus funding. Government audit revealed the $1.5 billion created 8 jobs.
- Vinod Khosla: Obama donor, DNC donor, Obama advisor. Part owner of Coskata which received $250 million in stimulus funds. Part owner of Nordic Wind Power which received $16 million in stimulus funding. Part owner of Alta Rock which received $25 million in stimulus funding.
- Cathy Zoi: Dept of Energy Grant Director during the stimulus funding. Left the DOE in 2011 to work for George Soros.
- Warren Buffett: The #1 profiteer of the taxpayer funded stimulus program. Obama donor since 2004 when the future President was an unknown Illinois State Senator. In 2008, Buffett became one of the President’s Senior Economic Advisors. Buffett lobbied hard for the $700 billion dollar bank bailout called TARP, as well as the near trillion dollar stimulus program. Buffett-owned banks just happened to receive $95 billion of the $700 billion bank bailout. In fact, 30 percent of all of Warren Buffett-owned companies received TARP bailout money. Of the $787 billion dollar stimulus funding, it’s almost impossible to calculate how much of it ended up in Warren Buffett’s pockets. To have one example however, just one company owned by Warren Buffett – Burlington Northern – is in the federal government’s database of stimulus spending under 1,800 different projects.
For more information on Warren Buffett, read the Whiteout Press article, ‘Warren Buffett, the Devil in the Details’.
- George Soros: The #2 profiteer of the taxpayer funded stimulus program. Also began funding Barack Obama in 2004 when he was an unknown Illinois State Senator. Funds the Democratic Party with millions of dollars in contributions. During stimulus planning, Soros held regular meetings with White House officials including Obama Senior Economic Advisor Larry Summers. Soros funded the Center for American Progress, an Obama front group. John Podesta moved from Barack Obama’s White House Transition Director to executive director of Soros’ Center for American Progress. While meeting with White House staff and advising the President on stimulus spending, Soros was quietly purchasing shares of companies that would receive funding.
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