Go Back   SZONE.US Forums > Current Events > News > The Heritage Foundation

The Heritage Foundation Since its founding in 1973, The Heritage Foundation has served as a research and educational institute -- a think tank -- whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense

The Heritage Foundation

Nine Companies Financed by Liberal VC Firm Get Taxpayer Backing

Thread Tools Search this Thread Rate Thread
Unread 11.15.11, 01:12 PM
@Heritage @Heritage is offline
Join Date: 06.09
Posts: 37,398
Nine Companies Financed by Liberal VC Firm Get Taxpayer Backing

On 11.15.11 08:47 AM posted by Rob Bluey

Scribe has reported extensively on the tendency of large government spending projects to reward the politically connected. It’s a virtual constant of federal interventions in the market, and perhaps nowhere is it more evident than in the Obama administration’s “green jobs” push.

Writing on National Review Online today, I detail the political connections backstopping California venture capital firm Kleiner Perkins Caufield & Byers, and take a look at the extensive taxpayer support given to nine different companies financed by the firm.

Here’s an excerpt from the piece:
Hoover Institution fellow Peter Schweizer*reports in his new book that as of mid-September, 80 percent of Energy Department renewable-energy*loans went to firms that have supported the president or his party financially. The administration, for its part, seems more concerned with the “optics” of such allegations than the problematic nature of a federal bureaucracy that rewards political insiders. Hence,*a former Obama campaign staffer suggested in February that Energy Secretary Steven Chu be fired, not for any alleged wrongdoing, but rather to preempt “the wave of GOP attacks that are surely coming over Solyndra and other inside DOE deals that have gone to Obama donors and have underperformed.”

In the case of Fisker specifically, conservatives should recognize the importance of California venture-capital firm Kleiner Perkins Caufield & Byers — which is one of Fisker’s larger investors, having contributed mightily to its initial $1.1 billion capital infusion. The company is teeming with political connections.

Al Gore joined Kleiner Perkins as a senior partner in 2007 —*to save the planet, CNN reported. Top Kleiner Perkins executives have given*more than a million dollars to federal candidates and parties since 1991, most of it going to Democrats. Obama himself has received $19,000 from the company’s employees.

While Gore is the most famous Kleiner Perkins executive, John Doerr, another senior partner, has also been very active in liberal politics. He currently sits on the president’s Economic Recovery Advisory Board, and*hosted President Obama at his home for a dinner with top Silicon Valley executives in February. Doerr was also very active in pushing the Global Warming Solutions Act, California’s punitive 2006 carbon-emissions law.

According to the Center for Responsive Politics, Brook Byers, also a major partner, has made $391,110 in political contributions since 1990, $148,500 of which went directly to the Democratic party (most of the rest went to individual Democratic candidates). Kleiner Perkins co-founder Frank Caufield’s $394,950 in political contributions since 1990 have gone almost entirely to Democrats. Another top partner, David Blood,*helped organize a $2,300-a-head fundraiser for Candidate Obama in 2008.

Click here to read the rest.

Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Rate This Thread
Rate This Thread:

All times are GMT -8. The time now is 09:51 AM.

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Copyright ©2007 - 20017 SZONE.US All rights reserved