American Jobs, Chinese Profits

Export-Import Bank extends loan to support Chinese-owned solar panel manufacturer
Thin-film solar panels developed by MiaSole / AP

The U.S. Export-Import Bank (Ex-Im) is financing the purchase of solar panels from a manufacturer now owned by the Chinese that had previously attracted investments from prominent Democrats, the bank announced Wednesday.

Obama Campaign Borrows $15M from Bank of America

Warren Buffett invested $5B in BofA last year

Obama For America took out a $15 million loan from Bank of America last month, according to the campaign’s October monthly FEC report. The loan was incurred on September 4 and is due November 14, eight days after the election.

The Fannie and Freddie Fee Machine

Federal government now collecting Fannie and Freddie profits
Fannie Mae, Freddie Mac

In order to wind down mortgage-backing giants Fannie Mae and Freddie Mac, the government is now collecting all profits generated by the companies—a move some think may backfire by providing the federal government a new source of revenue that Congress will be hard-pressed to let go.

Kaiser Thiefs

Obama bundler’s private equity firm could profit from Solyndra bankruptcy
Barack Obama, Ben Bierman, Chris Gronet / AP

A private equity firm with close ties to the Obama administration could end up profiting from the bankruptcy of Solyndra, the solar panel company that received more than $500 million in taxpayer-backed loans.

Can You Hear Me Now?

Democrat rents farmland to telecom, sponsors legislation favorable to that telecom
Leonard Boswell / Wikimedia Commons

An Iowa Democratic House member has raked in more than $50,000 since 2002 for hosting a cell phone tower on his property, while sponsoring a number of bills designed to boost rural telecommunications.

King of the Wind

Former Maine governor and ‘independent’ Senate candidate made the most of alt-energy bill he signed into law
Angus King / Wikimedia Commons

Former Maine governor and independent Senate candidate Angus King is an alternative energy entrepreneur who made the most of an electric-utility restructuring law that he signed during his governorship, while obtaining loan guarantees via the same program that loaned more than $500 million to the failed solar panel manufacturer Solyndra, records show.

Government Motors Spends $600M on UK Soccer Promo

Bailed-out automaker begins global marketing campaign as U.S. military sponsorships are cut
Manchester United / Wikimedia Commons

General Motors will shell out as much as $600 million to sponsor a European soccer team despite owing $27 billion to American taxpayers.