Posted on 09/02/2011 7:28:10 AM PDT by mandaladon
House investigators said they have uncovered evidence that White House officials became personally involved in an Energy Department review of a hot-button $535 million loan guarantee to the now-failed California solar company Solyndra.
The allegation surfaced in a letter House Energy Committee Chairman Fred Upton (R-Mich.) sent to the White House Thursday night, saying he planned to accelerate efforts to understand an investment deal that may have left taxpayers out half a billion dollars.
"We have learned from our investigation that White House officials monitored Solyndra's application and communicated with [Department of Energy] and Office of Management and Budget officials during the course of their review," the letter says.
Thursday's letter, which calls on the White House to turn over correspondence between administration officials, Solyndra and its investors, presents the most pointed suggestion that the White House had direct involvement in the financing.
"How did this company, without maybe the best economic plan, all of a sudden get to the head of the line?" Upton told ABC News in an interview this week. "We want to know who made this decision ... and we're not going to stop until we get those answers."
READ: Solyndra Collapse a 'Waste' of Half a Billion By Obama, GOP Critics Say
White House officials have said in interviews that they did not intervene in the Solyndra deal or others benefiting companies backed by supporters of the president. Yet the administration, from Obama to the Department of Energy, has very publicly praised the loan guarantee.
(Excerpt) Read more at abcnews.go.com ...
Somebody just got a lot of money over this bad investment. If they are not stupid, they are criminal. Is this part of the plan to bankrupt our country and pay back cronies. Is black unemployment needed to create violence nearer the presidential election? The justice department trying to make banks loan money to people who cannot pay is another drain. Guns allowed to arm drug cartels. Worrying more about “Islamaphobia” than Islamic terrorists? The list could go on and on.
Yeah, somebody (probably lots of somebodies) made money with each turn of the crank, irrespective of whether the company would realize a net loss. That result(manufacturing in Silicon Valley, no less!) is so clear that it's ridiculous to conjecture that management wouldn't be painfully aware that such a scheme was certain to collapse. I suppose that's why the founder was all set to bail as he did.
Biden promised 1000+ permanent green-jobs as a result of this $.5B taxpayer rape, but those jobs have already migrated to China within the year of his exposing his incompetence (or was there a kickback to him, too?).
In short, no businessmen go forward with such a deal unless they know they're covered when the manure contacts the rotating oscillator. Guaranteed taxpayer money was certainly the grease that made those in-the-know look the other way.
HF In short, no businessmen go forward with such a deal unless they know they're covered when the manure contacts the rotating oscillator.
HF
Yep...excellent points!
Welcome to marxist fascism folks!
The democrats had a ruling majority in both houses when this thing was appropriated. They rammed it through...just like they did the stimulus and Obamacare(and a host of other job/country killing bills). Now that we have the house,we can at least start looking into these high crimes and misdemeanors by calling for congressional hearings.
The putrid stench of corruption has to be reaching even the nasally-impaired.
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“... the $535 million loan from the DOE will finance 73% of a new factory.”
“We see a clear path,” says Kelly Truman, the VP of marketing, sales and business development, “and in 2-3 years we’ll hit grid parity.”
“Solyndra should be well capitalized now. It’s got that massive amount of government cash and around $820 million in venture capital, according to Cleantech.”
“Solyndra would likely reply that it’s in good shape for the future, since it has a reported $1.2 billion lined up in multiyear contracts.”
Solyndra To Make Solar Power As Cheap As Coal In 2-3 years (from 2 year ago)
http://www.freerepublic.com/focus/f-news/2771668/posts
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Solyndra projected to create 4000 jobs.
Not stupid...different goals
“Welcome to marxist fascism folks!”
The Fed government aims to cut out its employer altogether-— the American people-—an run its own international conglomerate.
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Did you hear Levin last night (in response to a caller who said the Federal government is telling suppliers what companies they can buy from based on how much money the corporate executives make [under $300,000]?
Mark: “Don’t tell me we aren’t moving to Marxism. I see it, I smell it, and I feel it.”
NO..I missed that exchange. Were these companies that are supplying the federal government with a good or service?
No doubt a bundle of cash to Obama’s campaign is another pre-condition that these Chicago thugs are resorting to.
Gangster Government!
Solyndra, Petrobras loan combined with gulf oil drilling moratorium, Pigford II, TARP, Stimulus...there is a lot that needs to be investigated because the American national treasury has been effectively looted by organized crime (the Obama administration).
“Were these companies that are supplying the federal government with a good or service?”
YES! From the timestamp on my post, it looks like that exchange took place around 7pm-— give or take 15 min. I was going to listen to it again.
Also, I think Levin is going to check up on it. He believed the man, but was dumbfounded.
The Republicans should hammer at this deal for the next year as representative of the abject failure of this administration. Bush did not tell Obama to invest taxpayer money in Solyndra.The Green Jobs fantasy is owned exclusively by Democrats and is a one way ticket to the black hole .
Maybe it’s just dumb if you get caught. Not that it matters with Obama, as usual no one will touch him.
The Obama campaign website even featured a drop-down box enabling donors to specify from what country they were donating. All the donor had to do was check a box certifying that he was legally eligible to make a donation. There was no safeguard in place to make sure that foreign nationals did not donate from these countries, in flagrant defiance of the federal law forbidding candidates from receiving foreign donations.
obama foreign donations
Obama’s campaign received donations from the world over: the Virgin Islands, Vienna, The Hague, Madrid, London, Geneva, Tokyo, Bangkok, Turin, Paris, Munich, Madrid, Roma, Zurich, Moscow, Milan, Singapore, Beijing, Switzerland, Toronto, Vancouver, Dublin, Panama, Berlin, Geneva, Buenos Aires, Prague, Nagoya, Budapest, Barcelona, Sweden, Taipei, Hong Kong, Rio de Janeiro, Sydney, Zurich, Ragusa, Amsterdam, Hamburg, Uganda, Mumbai, Tunis, Zacatecas, St. Croix, Mississauga, Lima, Copenhagen, Dubai, Jeddah, Kabul, Cairo, and many others.
http://atlasshrugs2000.typepad.com/atlas_shrugs/obamas_foreign_contributions/
From reports, Solyndra was only a Trojan Horse by which taxpayer dollars were "redistributed" to supporters.
This fiasco should be adequate warning for American citizens that politicians possess neither the wisdom nor purity of motivation to make decisions which coercively "take" hard-earned dollars from the pockets of some citizens in order to transfer them to the bank accounts of other citizens, under the guise of "investing" their money. When one looks at the real motivation for such actions, one usually finds that it is the "self-interest" of the politician, motivated by the desire to pay off old debts or purchase future power through protecting a voting block of special interest voters.
America's Founders warned of such so-called "leaders." Hopefully, voters are becoming wise to this sort of behavior and will correct their misperceptions of 2008.
A former President, John Quincy Adams, in his "Jubilee" Address in 1837, pointed out:
"The President himself is no more than a representative of public opinion at the time of his election; and as public opinion is subject to great and frequent fluctuations, he must accommodate his policy to them; or the people will speedily give him a successor; or either House of Congress will effectually control his power. It is thus, and in no other sense that the Constitution of the United States is democratic - for the government of our country, instead of a Democracy the most simple, is the most complicated government on the face of the globe." - John Quincy Adams
This plus the “Fast and Furious” scandal could effectively derail the Obama re-election campaign, if the bad economy doesn’t do it first!
Exactly my opinion !!!
Thanks for the pings, ladies.
Does this rise to the level of an impeachable offense?
Well, needing to speak my vanity, I was thinking of setting up some treadmill generators in my basement, generate bucketloads of electricity with them, and claim, with vanity, “I’ve Got the Power” Hey, it will help offset my weight gains, is renewable in the sense that as long as I have food in me, it works, why not? Hey Mr. President, instead of you and your wife going after fast food, how about encouraging the building of power gyms that generate electricity, so that all the fitness fanatics and athletes can put loads of renewable energy into our power grid? Anyways, I hope it made you all chuckle!
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