This morning Scribe wrote about the tendency of large government interventions in the economy to nudge private economic actors into the political sphere, where they can curry favor with the people controlling the (massive) purse strings.
The video above, via KFAQ Radio in Tulsa, OK, shows billionaire oilman George Kaiser, a major Obama donor and key investor in bankrupt solar company Solyndra, discussing President Obama’s stimulus package as just what it was: a tremendous source of money available to the politically connected – to people like Kaiser.
“There’s never been more money shoved out of the government’s door in world history, and probably never will be again, than in the last few months and in the next 18 months,” Kaiser tells the crowd.
Kaiser is discussing securing money for his foundation for projects in the Tulsa area, but it’s clear that he realizes the potential of the stimulus as a financing mechanism generally.
The video was taken on July 8, 2009, mere months after Kaiser made his four visits to the White House, which were followed shortly thereafter by Energy Secretary Steven Chu’s announcement that Solyndra had received a $535 million loan guarantee.
In other words, by the time Kaiser gave the speech in this video, he had learned first-hand the benefits that could be reaped from the most massive disbursement of government money in world history.