This phrase has been tossed around for years, but really isn't accurate. All administrations have engaged in this practice, and the current administration has taken it to a level never seen before. http://www2.timesdispatch.com/news/rtd-opinion/2011/nov/25/tdopin01-more-solyndras-ar-1492198/
Government has always floated in the cess-pool of corruption, but Obama and his minions seem to relish it. Being from Chicago, I can attest to the fact that this is how Obama was raised in the system, and he probably doesn't see anything wrong with it, either.
He just doesn't realize that the entire nation outside of Chicago sees it for what it is.
When government gets involved in the venture capitalism business, it is choosing winners and losers. Obama, of course, seems to have a special knack for choosing losers, leaving the taxpayer to foot the bill. But it has never really been crony capitalism. Call it what it is-crony socialism.