Another Obama fundraiser is investor in car company that won federal loan
An investment firm whose vice chairman has been an adviser and fundraiser for President Obama saw one of its portfolio companies win approval this year for $50 million in loans from the administration’s clean-energy loan program.
Johnson headed Obama’s vice presidential selection committee in 2008 and is the former chairman of housing mortgage giant Fannie Mae. He was listed as a campaign fundraising bundler for Obama in the 2008 race, according to the Center for Responsive Politics, and committed to raising $200,000 to $500,000 for the upcoming presidential race.
Republicans have criticized the administration for what they say is a pattern of loan assistance going to politically connected clean-energy companies. Recently, they expanded their investigations of loan guarantees to other companies whose investors include Democratic contributors.
A nine-month House investigation of the loan guarantee program has largely focused on the Obama administration’s first clean-energy loan: $535 million to solar start-up Solyndra, a now-shuttered company whose lead investors were funds tied to George Kaiser, an Obama fundraising bundler and Tulsa billionaire.