Cronyism Alive and Well in Washington

Despite pledging to send special interests to the woodshed, President Obama has practiced his own form of crony capitalism, laying out taxpayer funds on businesses that have helped him politically – green energy (Solyndra) being of particular note, but also, notably, General Electric.

His support of union members, at the expense of bondholders in the auto industry in 2009, was another example, as were his recess appointments of three people to the National Labor Relations Board this past January.

Promising to be like Jesus who drove the money lenders from the temple, candidate Obama promised to drive special interests from Washington. In 2008, candidate Barack Obama said, “Were going to have to change the culture in Washington, so that lobbyists and special interests aren’t driving the process.” While registered lobbyists have been banned from official invitation lists to the White House, the New York Times reported on April 14th of this year that large donors “often took lobbyists with them, while others performed essentially the same function on their visits.”

What I find especially offensive about this Administration is the sanctimonious tone of their remarks and the ingenuousness of their actions. Unsurprisingly, Mr. Obama has not driven special interests from Washington, and certainly their influence on Congress is as strong as ever. One could argue that the President has probably set a record as the single worst investor since Jimmy Carter – taking our money and throwing it at battery and solar companies, like Solyndra.