Government Loans to Nowhere

Michelle Malkin » Government Loans to Nowhere
Little noticed in the White House jobs-for-cronies proposal is a provision creating yet another corruption-friendly “government corporation” that would dole out public infrastructure loans and loan guarantees.
Because, you know, the government-chartered, political hack-stacked Fannie Mae and Freddie Mac “public-private partnerships” — which have incurred an estimated $400 billion in losses while enriching bipartisan Beltway operatives — worked out so well for American taxpayers.

The new monstrosity, dubbed the “American Infrastructure Financing Authority” (AIFA), would “provide direct loans and loan guarantees to facilitate investment in economically viable infrastructure projects of regional or national significance,” according to the White House plan.

President Obama would have the power to appoint AIFA’s chief executive officer and a seven-member board of directors.
No doubt the nominees would include the likes of AFL-CIO Chief Richard Trumka on the left and the U.S. Chamber of Commerce on the right — strange Obama bedfellows who have formed a Big Labor-Big Business-Big Government alliance supporting Obama’s infrastructure slush fund.