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)