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  • cronyism

    Bigger Government, More Cronyism, Less Economic Freedom

    Recent news about the Obama Administration’s divestitures from AIG and GM—in some cases at a loss of billions of dollars—stands as a reminder of the privilege and cronyism that permeates our economy. As favoritism grows with the size of the government, economic freedom continues to be eroded by policies like … More

    Cronyism: Crushing the Free Market and Promoting Rent-Seeking

    Imagine your son or daughter aspiring to be a government crony instead of an engineer or business owner. That nightmare scenario plays out in a new video by Crony Chronicles, a website that fights cronyism. In the video, kids who might otherwise have become doctors and architects aspire instead to … More

    More Obama Donors Benefit From USDA's Latest Loan Guarantee

    The U.S. Department of Agriculture has awarded a large loan guarantee to a biofuel company whose investors donated handsome sums to the Obama campaign. Some of them have even visited the White House to discuss federal job-creation efforts. Taxpayers will guarantee a $105 million loan for Fulcrum Sierra BioFuels, a … More

    Solyndra-Linked Executive to Lead Pentagon's Advanced Tech Agency

    A venture capital executive with ties to defunct solar company Solyndra has been hired as the new chief of the Defense Department program heading up the Pentagon’s renewable energy push. Arati Prabhakar, a former partner at U.S. Venture Partners, a Silicon Valley-based venture capital firm that backed Solyndra, has been … More

    Another Stimulus Backed 'Green Energy' Company Goes Bankrupt

    Another stimulus-backed green energy company has filed for bankruptcy, further fueling criticism of Energy Department programs that backed highly-risky investments on the taxpayer dime. Like Solyndra and a number of other green energy investments made under this administration, Abound Solar had a very poor credit rating, but enjoyed a wealth … More

    DOE Sent Confidential Information to Loan Guarantee Applicant

    Emails uncovered by congressional investigators show that a top Energy Department adviser sent confidential government information to representatives of a company vying for federal financing. The company, which is tied to multiple politically connected green-energy firms, eventually received a $1.4 billion partial loan guarantee from DOE. “[P]lease do not sent … More

    Obama Slams Private Equity, But His Own 'Investors' Do Quite Well

    President Obama and his surrogates have repeatedly insisted that federal backing for green energy companies like Solyndra is somehow superior to private equity investing, since federal bureaucrats are concerned with more than enriching investors. But “investors” in an Obama presidency – i.e. his top supporters – have reaped the benefits … More

    Lawmakers Probe Fast-Track Approval for Connected Green Companies

    Congressional investigators are probing potential cronyism in a pair of federal green energy programs, including the Energy Department loan program that guaranteed a $535 million loan to now-bankrupt solar company Solyndra. In a letter to Interior Secretary Ken Salazar sent on Tuesday, embedded below, Sen. Jeff Sessions (R-AL), chairman of … More

    Obama to Tout Green Energy at Politically Connected Wind Company

    President Obama will make a push for wind energy subsidies on Thursday at the Iowa production facilities of a politically connected wind turbine manufacturer with ties to his administration. The appearance could serve to reinforce perceptions of cronyism in the administration’s “green jobs” push. At the manufacturing facilities of TPI … More

    Stimulus Dollars Disproportionately Went to States Represented by Dems

    According to a new report on President Obama’s stimulus package and its effect on the economy, the amount of stimulus money that went to each state was correlated with the number of Democrats in each state’s congressional delegation. The data is revealed in a new book by Grover Norquist, president … More