Posted on 09/18/2011 5:13:54 AM PDT by radioone
Former federal prosecutor Andrew McCarthy has an important column in which he argues that the Solyndra fiasco is not just a garden-variety scandal, but a criminal fraud that should land someone, inside and/or outside of the Obama administration, in the slammer.
The facts are very bad. Solyndra was a money-loser from beginning to end. Its business model was untenable. The Bush administration turned it down for funding. Its owners wanted to do a public offering; for that purpose, they had to have their books audited and a report written by PriceWaterhouseCoopers. The report was more or less an obituary for the company:
[O]utside auditors from PricewaterhouseCoopers (PWC) found that condition to be dire. “The company has suffered recurring losses from operations, negative cash flows since inception, and has a net stockholders’ deficit,” the PWC accountants concluded. Even with the gigantic Obama loan, Solyndra was such a basket case that PWC found “substantial doubt about its ability to continue as a going concern.”
(Excerpt) Read more at powerlineblog.com ...
Yes. He is a grand wallah of Isflam.
...”The U.S. Justice Department, a tool of Obama’s tyranny, is engaging in a cover-up of the criminal acts of its own hierarchy and of the President himself regarding this Solyndra rip-off”...
I believe there is a phrase which applies to these situations which goes something like this..”It is the fox guarding the henhouse.”
I have always thought that might be the case..But, they will try to find a way to blame the other side.
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