August 23, 2012
Crony Capitalism: More Obama Friends Get Massive "Stimulus" Funds

Chicago Energy Behemoth Scored $200 Million in Stimulus Funds:

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....

Exelon, which provides power to more than 6.6 million customers in at least 16 states and the District of Columbia, was chosen as one of only six electric utilities nationwide for the maximum $200 million stimulus grant from the Energy Department. And when the Treasury Department granted loans for renewable energy projects, Exelon landed a commitment for up to $646 million allowing it, on extremely generous financial terms, to finance one of the world’s largest photovoltaic solar projects.

Like I've been saying, it's good to know the King.