SOLYNDRA SCANDAL WIDENS: Auditors Raised Red Flags About Obama's Favorite Green Company

Business Insider ^ | 9/12/2011 | Zeke Miller

[icanhasbailout]

Two months before the federal government provided a $535 million federal loan to the company, auditors found that Solyndra, the bankrupt solar company, had significant financial difficulties, Bloomberg reports.

In a deepening scandal that threatens to ensnare members of the Obama administration, PricewaterhouseCoopers found that the company's finances “raise substantial doubt about its ability to continue as a going concern.” Two months later the company was awarded the loan under a green jobs program.

...

House Republicans have been investigating terms of the loan since earlier this year — and will hold a hearing on it on Wednesday. Republicans assert that the Obama administration fast-tracked the loan without following proper procedures.

...

Bloomberg reported that the administration rejected the company's request to renegotiate the terms of the loan the day before the company went under.

[Nachum]

Solyndra-Gate

http://www.nachumlist.com/solyndra.htm

[unkus]

I don’t think this is really going anywhere. Too much CYA by both sides.

[driftdiver]

cmon its only 500 million, thats chump change for whats really been happening

[FormerACLUmember]

There are thousands of these crooked business deals in the Chicago Way “Stimulus.”

[FlingWingFlyer]

535 million and the bass turds still go bankrupt. This bunch shouldn’t have been in business. Obviously, they don’t know what the hell they are doing. It’s a damn shame about the 535 million though. America could really use that money.

[Chode]

[unkus]

A lot of the 535 million went into private bank accounts. I’d bet on that.

[Talisker]

Two months before the federal government provided a $535 million federal loan to the company, auditors found that Solyndra, the bankrupt solar company, had significant financial difficulties, Bloomberg reports.

In a deepening scandal that threatens to ensnare members of the Obama administration, PricewaterhouseCoopers found that the company's finances “raise substantial doubt about its ability to continue as a going concern.” Two months later the company was awarded the loan under a green jobs program.

Well of course. Sheesh, why do you think they needed a loan?

Everyone is always picking on the Democrats.

[FlingWingFlyer]

Same thing I was thinking. That money had to go somewhere if they weren’t using it to pay their bills.

[WilliamofCarmichael]

White House plumbers (Holder's Dept. of Just Us FBI) break and enter offices and homes seizing documents linking Obama to scandal; warn company executives to shut up.

Could be. IMO.

[Kozak]

A lot of the 535 million went into private offshore bank accounts. I’d bet on that.

[TexasTransplant]

Beg to differ

TT

[Hoodat]

A lot of the 535 million went into private bank accounts.

. . . while China buys up all that capital equipment at pennies on the dollar.

[WHBates]

Too much CYA by both sides

And why would that be the case. Who on the Republican side would be involved in this?

[Mr Ramsbotham]

It’s a damn shame about the 535 million though.

I would have been perfectly willing to run a company into the ground for half that amount.

[rawcatslyentist]

Solyndra

For All Your Fast and Furious One Hand Turnaround Money Laundering Needs!

[AD from SpringBay]

Multiple choice time. More news stories will be out this week about:

A) Rick Perry and possible kickbacks for a mandatory vaccine in Texas.
B) Obama and possible kickbacks from Solyndra / GE / Unions ...
C) Is Sarah Palin the devil?
D) The nightly weather report.

[rdcbn]

At first I thought that the FBI raid on Solyndra was an Obama administration plan to use the old tried and true Clinton strategy of hiding behind “an ongoing investigation” which goes on forever to hide criminal or damaging evidence.

I am not so sure on this now. Maybe this is actually a serious investigation

[steelyourfaith]

 

Beam me to Planet Gore !