|Hoover Institution (Photo credit: Wikipedia)|
It appears that the one thing that Obama is good at is rewarding his supporters with taxpayer money. Who said Obama doesn't understand business, look at the rate of return his guys made from their investment in the Obama Presidency. An investment of $457,834 returned $11.35 billion dollars.
[A]s Hoover Institution scholar Peter Schweizer reported in his book, “Throw Them All Out,” fully 71 percent of the Obama Energy Department’s grants and loans went to “individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party.” Collectively, these Obama cronies raised $457,834 for his campaign, and they were in turn approved for grants or loans of nearly $11.35 billion. Obama said this week it’s not the president’s job “to make a lot of money for investors.” Well, he sure seems to have made a lot of (taxpayer) money for investors in his political machine.
Now if that doesn't define "crony capitalism" what does?