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Investigators Probe White House Role in Massive Energy Loan
ABC News ^
| 2 Sep 2011
| MATTHEW MOSK and RONNIE GREENE
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 ...
TOPICS: Business/Economy; Crime/Corruption; Extended News; Front Page News; Politics/Elections
KEYWORDS: agw; bhofascism; campaigndonations; chicagoway; corruption; cronycapitalism; cultureofcorruption; democrats; dncrico; elections; envirofascism; fraud; fredupton; globalwarming; globalwarminghoax; govtabuse; green; greenenergy; greenpower; hecc; noaccountability; nobama2012; notransparency; obama; obamatruthfile; paytoplay; solyndra; thegreenlie; transparency
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"Here's the bottom line," Lynch said. "It costs them $6 to make a unit. They're selling it for $3. In order to be competitive today, they have to sell it for between $1.5 and $2. That is not a viable business plan." *******************How stupid can the Obama experts be????
To: mandaladon
It’s the old Amazon business plan..Lose $$ on every sale..make it up on volume..
2
posted on
09/02/2011 7:30:04 AM PDT
by
ken5050
(Should Christie RUN in 2012? NO!!! But he should WALK three miles every day!)
To: mandaladon
3
posted on
09/02/2011 7:30:32 AM PDT
by
ken21
(ruling class dem + rino progressives -- destroying america for 150 years.)
To: mandaladon
*******************How stupid can the Obama experts be????
I haven't decided who is dumber - obozo and his "experts" or the morons that voted for him in the first place.
4
posted on
09/02/2011 7:31:28 AM PDT
by
Newton
(If Obama is the answer it's probably a stupid question.)
To: mandaladon
I’m still waiting to find out who hired Greg Livingstone.
To: mandaladon
The allegation surfaced in a letter House Energy Committee Chairman Fred Upton (R-Mich.) sent to the White House Thursday night The WH has been dodging this one for several months:
OMB Role in loans
6
posted on
09/02/2011 7:35:28 AM PDT
by
Michael.SF.
(When you hear hooves, think horses, not zebras.)
To: mandaladon
Okay, so now we have this from ABC "News" and the gun runner story in the LA Times today.
Let me guess. This is FRIDAY before Labor Day and we are witnessing a big document/story dump, right?
This way the corrupt MSM can claim they "reported" all this information and the administration can dump all the bad news too. What's next?
7
posted on
09/02/2011 7:35:28 AM PDT
by
Obadiah
(Okay, so what's the speed of dark?)
To: mandaladon
Why is ABC investigating the White House? They cover for the democrats & don’t investigate. I don’t trust these people. As usual this will come out that no one did anything illegal, just stupid. I think they are trying to divert our attention away from something that is really big.
To: Zuben Elgenubi
Rememebr the guy in the Clinton administration..Josh something or other,,who testified under oath that he LIED TO HIS DIARY...
9
posted on
09/02/2011 7:38:23 AM PDT
by
ken5050
(Should Christie RUN in 2012? NO!!! But he should WALK three miles every day!)
To: mandaladon
On second thought, I think they know Obama will lose the election & is going to “tell all” so he won't run or will have a primary challenger (Hillary).
To: mandaladon
*How stupid can the Obama experts be????
Very stupid! This what happens when you have a pres and people surrounding him with NO business experience.
Make a part for $6 and sell it for $3??? Geez, a worker in a 7-11 would have known this company was going to fail. Yet people in the administration couldn't figure this out.
11
posted on
09/02/2011 7:39:30 AM PDT
by
Shannon
To: mandaladon
Solyndra "was ... a company whose key investor was George Kaiser, an Oklahoma billionaire who raised more than $50,000 for Obama's 2008 presidential campaign. Since May, Kaiser has declined interview requests." ABC News: http://abcnews.go.com/Blotter/solyndra-investigation-probe-white-house-role-massive-energy/story?id=14434588
12
posted on
09/02/2011 7:40:03 AM PDT
by
Oldeconomybuyer
(The problem with socialism is that you eventually run out of other people's money.)
To: Newton
The morons who elected him are the biggest danger to the country,
but...
It’s not all that “dumb” to push a federally backed loan that ends up laundering money back into ‘rat campaign coffers.
It’s crooked and, well, “liberal” to do so, but not “dumb”.
13
posted on
09/02/2011 7:41:07 AM PDT
by
MrB
(The difference between a Humanist and a Satanist - the latter knows whom he's working for)
To: mandaladon
How much was the executives pay and bonuses. Nothing more than high tech stealing of tax payers money.
14
posted on
09/02/2011 7:42:16 AM PDT
by
org.whodat
(What does the Republican party stand for////??? absolutely nothing.)
To: ken5050
To: Zuben Elgenubi
Wonder where in the TSA old greg works today.
16
posted on
09/02/2011 7:44:21 AM PDT
by
org.whodat
(What does the Republican party stand for////??? absolutely nothing.)
To: mandaladon
“It costs them $6 to make a unit. They’re selling it for $3.
Given the skid mark’s knowledge of basic economics, he was convinced that they would make up the difference in volume...
17
posted on
09/02/2011 7:45:00 AM PDT
by
Common Sense 101
(Hey libs... If your theories fly in the face of reality, it's not reality that's wrong.)
To: mandaladon
Follow the money. The rats got back about 1% in campaign donations.
18
posted on
09/02/2011 7:45:46 AM PDT
by
6ppc
(It's torch and pitchfork time)
To: mandaladon
To: 6ppc
Wow you are kidding the Dems pushed a bad project that was owned by a campaign donor. First time that’s ever happened and ABC caught it right away.
20
posted on
09/02/2011 7:47:54 AM PDT
by
jimpick
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