Exelon, “Obama’s Utility” Has Amazing Influence in the White House- Energy the “Chicago Way”

I write about crony capitalism every day. I see a lot of stories. But it is just amazing the depths of corruption in this White House.

To be clear political corruption is trans-partisan. Republicans engage in plenty of it too.

But wow! Between Attorney General Holder and his non-pursuit of the MFGlobal senior staff, the Fast and Furious scandal (also involving Holder,) Solyndra, the Senior Presidential Advisor Valarie Jarrett and her real estate “investments,” and probably a bunch more instances that I’m not thinking of now, it really is breathtaking.

Is it that the Obama team just imported The Chicago Way? I think that it has a lot to do with it. This is how politics is played generally, the Chicago Dems just do it without shame.

Witness this expose by The New York Times.

That’s right I said The New York Times. I couldn’t believe it either, and it’s pretty good.

Exelon, the nuclear electrical utility based out of, you guessed it- Chicago, has the inside track at the White House. This special access appears to have influenced regulation which has hammered competitors of Exelon, helped Exelon garner very favorable DOE loans, and may have even influenced whether Exelon competitors were able to build power plants.

This is a great story.

(From The New York Times)

“Exelon’s top executives were early and frequent supporters of Mr. Obama as he rose from the Illinois State Senate to the White House. John W. Rogers Jr., a friend of the president’s and one of his top fund-raisers, is an Exelon board member. David Axelrod, Mr. Obama’s longtime political strategist, once worked as an Exelon consultant, and Rahm Emanuel, the Chicago mayor and Mr. Obama’s former chief of staff, helped create the company through a corporate merger in 2000 while working as an investment banker.       

With energy an increasingly pivotal issue for the Obama White House, a review of Exelon’s relationship with the administration shows how familiarity has helped foster access at the upper reaches of government and how, in some cases, the outcome has been favorable for Exelon.”

Click here for the article.

(New York Times, 8-22-2012)
6 comments
CaptD
CaptD

I think someone should ask the Head of SDG&E why she sold a Million Dollars worth of SDG&E stock just before the news of tube's leaking caused SORE (San Onofre Reactor Emergency)! They all knew, and have tried, from the beginning, to down play this debacle so that all the CA rate payers instead of their own shareholders (who have had years of record profits) will have to foot the bill... Why has SoCal's MSM failed to investigate what really happened and expose not only those that kept quiet but also the CPUC which is clearly protecting SCE? Why has Governor Brown not gotten PUBLIC about this Debacle, or is he also connected because of campaign contributions? California cannot afford a Trillion Dollar Eco-Disaster like Fukushima! Channel 10 would be smart to ask all our State and Local Leaders "on the record" where they stand on this issue and what amounts of donations they have received from not only the Utilities but the nuclear industry and their supporters! Is anyone willing to shout, "Conflict of Interest?"

Pat Wade
Pat Wade

Harry, wake up from your kool aid induced stupor

Harry R Vonzel
Harry R Vonzel

But seriously folks a whole lot less influence than the Koch brothers, Chevron, Exxon, the coal and gas industries, as well as the electrical energy companies....

Lyn Moss
Lyn Moss

Smacks of corruption...just repeat the words CRONY CAPITALISM 10 times and see for yourself if it doesn't sound like a word white collar criminals would say?

Austin Belanger
Austin Belanger

The most transparent "business as usual" administration ever....what a stinking pile....