Robert Kennedy Jr.'s Company scored $1.4 Billion bailout (Congress, Barack Obama, insurance)

[lifelongMOgal]

Again it pays to be a well connected Democrat who just happened to be a donor/bundler/campaign supporter of Obama's with a "green" company .

» Robert Kennedy, Jr.

The details of how BrightSource managed to land its ten-figure taxpayer bailout have yet to emerge fully. However, one clue might be found in the person of Sanjay Wagle.

Wagle was one of the principals in Kennedy’s firm who raised money for Barack Obama’s 2008 presidential campaign. When Obama won the White House, Wagle was installed at the Department of Energy (DOE), advising on energy grants.

Even before BrightSource rattled its tin cup in front of Obama’s DOE, the company made it known publicly that its survival hinged on successfully completing the Ivanpah Solar Electrical System, which would become the largest solar plant in the world, on federal lands in California.

[d4g4m]

Nothing to see here folks. Move along. Go about your business.

[evilnewbie]

The Democrats win! The Taxpayers lose!

[florida.bob]

Breitfart! Nuff said.

[Speleothem]

Originally Posted by florida.bob

Breitfart! Nuff said.

So the story isn't true? Or is it?

[doc1]

Originally Posted by florida.bob

Breitfart! Nuff said.

What are your news sources covering the story?

[floridasandy]

those bailouts sure were something!

here's more bailout news:
David Shepardson/ Detroit News Washington Bureau

The Treasury Department dramatically boosted its estimate of losses from its $85 billion auto industry bailout by more than $9 billion in the face of General Motors Co.'s steep stock decline.

In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion.

The Treasury now pegs the cost of the bailout of GM, Chrysler Group LLC and the auto finance companies at $79.6 billion. It no longer includes $5 billion it set aside to guarantee payments to auto suppliers in 2009.

The big increase is a reflection of the sharp decline in the value of GM's share price.

The government has recovered $23.2 billion of its $49.5 billion GM bailout, and cut its stake in the company from 61 percent to 26.5 percent. But it has been forced to put on hold the sale of its remaining 500 million shares of stock.

The new estimate also hikes the overall cost of the $700 billion Troubled Asset Relief Program costs to taxpayers. TARP is the emergency program approved by Congress in late 2008 at the height of the financial crisis.

In total, the government used $425 billion to bailout banks, insurance companies and automakers, and provided $45 billion in housing program assistance.

The government now expects to lose $57.33 billion, including the full cost of the housing program, up from $36.7 billion. The new estimate means the government doesn't believe it will make an overall profit on its bailouts.


From The Detroit News: http://detnews.com/article/20111114/AUTO01/111140434/U.S.-boosts-estimate-of-auto-bailout-losses-to-$23.6B#ixzz1dy6KzZp7

i wonder how they will spin this?

[BucsLose]

Originally Posted by florida.bob

Breitfart! Nuff said.

Instead of making an immature comment liken to a 10 year old, why dont you stick around and give us the "truth" then. We'll be waiting.

The facts are this administration is as corrupt as nearly any in our history, and you dont want to admit it publicly.

[Frank DeForrest]

Originally Posted by florida.bob

Breitfart! Nuff said.

"It's good to be ruling class and have loyal serfs to do your bidding"-Robert Kennedy jr.

[AeroGuyDC]

I never have understood Democrats' obsession with the Kennedy's. All I can say is thank God there's not a relevant Kennedy walking this planet anymore. Well-connected perhaps, but certainly not relevant.