The one thing about the Occupy Wall Street crowd that resonates with many Americans is their opposition to bank bailouts. The idea of using our tax money to bail out millionaires is nuts.
But that's exactly what's happening with Solyndra. Some of the $535 million that taxpayers just lost with Solyndra is about to be used to pay off the investment of billionaire George Kaiser and other investors. These millionaires and billionaires made risky investments on Solyndra, and they lost. When rich investors make risky bets and lose, they should have to eat their losses. They certainly shouldn't get paid back by taxpayers. But these friends of Obama are about to be. That's not only unethical, it's illegal.
It's in direct violation of the 2005 energy law, which clearly states that taxpayer loans get paid back before private loans on these projects. Otherwise, taxpayer money will be siphoned into the pockets of the rich guys. But someone in the Obama administration made a deal with rich Obama fundraisers to go around the law.
If the Wall Street protesters are really mad about taxpayers subsidizing millionaires and billionaires, than they should bring the house down on the Obama administration for subsidizing a risky investment made by a billionaire friend of the president. But so far we haven't heard a peep from the protesters about it.
Time to speak up and shout out, or shut up and go home.