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Tuesday, May 29, 2012

Videos- Obama's Gambling Problem: His Stimulus Package Used Taxpayer's Money For Bad Bets

By Susan Duclos

Lately we have seen a number of attacks from Barack Obama on private equity firms because they take risks with the intention of making their investors money, but the only difference between what Obama did with his Stimulus One package and what private equity firms do, is that the private ones have investors that willingly invest in the company, using their own money, taking a risk that the firm will invest wisely and earn them more money and Obama has used taxpayer's money, with taxpayers having no choice or voice.

American Crossroads and the Mitt Romney campaign have both walked into the wide open door that Obama opened for them and are pointing out Obama's record of gambling with voter's money.

Romney's web ad points out that $16.4 billion of the $20.5 billion in loans granted as of Sept. 15 went to companies either run by or primarily owned by Obama financial backers. The ad also lists how much of that money were bad bets with companies like Solyndra which failed.

[WATCH: Not Even Half ]- Transcript below the below the video

Obama is spending your tax dollars to create jobs. How’s he doing?

You’ve heard of Solyndra. They took $535 million in taxpayer loan guarantees and went bankrupt. But that’s not even half the story.

Obama’s Department of Energy has handed out billions of dollars in loans and grants.

First Solar: Three billion dollars in taxpayer-backed loan guarantees. Now they’re cutting jobs and their stock is near all-time lows.

 ECOtality: Received $126 million in taxpayer money. Lost $45 million, and currently under investigation.

SunPower: More than a billion dollars in loan guarantees. Lost half a billion last year. Laying off workers.

More than $16 billion have gone to companies like Solyndra that are linked to big Obama and Democrat donors. The inspector general said contracts were steered to ‘friends and family.’ Obama is giving taxpayer money to big donors. And then watching them lose it. Good for them. Bad for us.”

The next one is from American Crossroads called "Public Equity":



Obama’s attacking private equity. But what’s his record on PUBLIC equity investing? …

Obama invested our tax dollars in Solyndra. Lost half a billion. …

Failed investment strategies. Jobs eliminated. Millions lost.

PUBLIC equity President Obama played Wall Street games with OUR money.”

Interspersed with narrators words are clips of Obama's public speeches.

Private equity investors have a choice, they can invest or they can make money elsewhere, Barack Obama uses money from American families that had no choice about how their money was being gambled away.

Obama talks about fairness to all, redistribution of wealth by taking money from the rich and giving it to the poor, yet his actions have taken money from middle class families and put it into the pockets of his rich donors.