Tuesday, November 22, 2011

Obama gives solyndra workers massive payoff even after administration under investigation

If there is one thing that can be said of President Obama, it is that he does not fear Congress or the repercussions of his actions.  As the legislative branch continues to probe the massive loans made to campaign contributors in the Solyndra debacle, the Obama administration is set to pay out over $13 million in pseudo payoffs to workers of the now defunct company.

The Labor Department today announced that it had approved Trade Adjustment Assistance for the former employees of the bankrupt solar panel maker Solyndra.

That means all of the firm’s 1,100 ex-employees are eligible for federal aid packages, including job retraining and income assistance. The department has valued packages at about $13,000 a head.

Taxpayers will have to cough up yet another $14.3 million as a result of Solyndra’s bankruptcy. They are already on the hook for $528 million in federal loan guarantees to the company that are unlikely to ever be paid back -

President Obama has been consistent in one area during his first term in office... he knows how to payoff his friends with taxpayer money.  Very few have had the galll to openly administer crony capaitalism like Obama, and then throw it in the face of the American people and Congress.


Post a Comment