Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

FBI raids solar panel company hailed by Obama Firm got $500,000 in stimulus funds
washtimes ^ | 9/8/11 | By Jim McElhatton and Jerry Seper

Posted on 09/08/2011 11:59:56 AM PDT by bestintxas

FBI agents on Thursday executed search warrants at the headquarters of Solyndra LLC, which was awarded more than $500,000 in federal stimulus loans in 2009 to make solar panels in what the Obama administration called part of an aggressive effort to put more Americans to work and end U.S. dependence on foreign oil.

But the company filed a bankruptcy petition Tuesday in Delaware, asking a court to bar phone, electricity and water and sewer service providers from “altering, refusing or discontinuing service,” and now is the focus of an investigation by the FBI and the Energy Department's Office of Inspector General.

FBI spokesman Peter Lee said he could not provide details about the investigation.

A little more than a year ago, President Obama hailed Solyndra during a tour of the company, saying it expected to hire 1,000 workers and make enough panels over the lifetime of its planned expanded facility that it would be like replacing eight coal-fired power plants.

“It’s here that companies like Solyndra are leading the way toward a brighter and more prosperous future,” Mr. Obama said.

The FBI executed search warrants at the headquarters of the firm, which received a $535 million loan from the federal government. (Associated Press)The company’s bankruptcy petition came two years after Energy Secretary Stephen Chu and Vice President Joseph R. Biden announced approval of $535 million in federal loans to Solyndra.

(Excerpt) Read more at washingtontimes.com ...


TOPICS: News/Current Events
KEYWORDS: bhofascism; corruption; democrats; fraud; green; obama; porkulus; presidentdowngrade; solar; solyndra; solyndraraid
Navigation: use the links below to view more comments.
first 1-2021-4041-42 next last
Finally getting traction on criminal behavior with potential to bring the "One" down.
1 posted on 09/08/2011 12:00:01 PM PDT by bestintxas
[ Post Reply | Private Reply | View Replies]

To: bestintxas

I believe that it was $500 million, not $500 thousand.


2 posted on 09/08/2011 12:02:59 PM PDT by Truth29
[ Post Reply | Private Reply | To 1 | View Replies]

To: bestintxas

Your title is wrong. Hundreds of Millions not Hundreds of Thousands.


3 posted on 09/08/2011 12:03:12 PM PDT by Recon Dad ("Don't forget, incoming fire has the right of way..")
[ Post Reply | Private Reply | To 1 | View Replies]

To: bestintxas

Is that a typo in their article?

Everywhere is reporting that it was a $535 million loan (which is gone) - not “over $500,000”. Are they trying to make it look like only 1/2 a million to hide the nearly 1/2 a billion later in the article? Am I missing something?


4 posted on 09/08/2011 12:03:54 PM PDT by dan on the right
[ Post Reply | Private Reply | To 1 | View Replies]

To: Truth29

Great minds think alike!


5 posted on 09/08/2011 12:04:04 PM PDT by Recon Dad ("Don't forget, incoming fire has the right of way..")
[ Post Reply | Private Reply | To 2 | View Replies]

To: bestintxas

A half-billion is government handouts gone in two years, everyone laid off, and the officers of the company just smile and say gee whiz, sorry it dodn’t work, gotta go now...

LOL, this level of crass greed only can happen in the SF Bay Area. Not even in Chicago or New York or LA are people as outright brazen greedy frauds as they are in Pelosi Country.


6 posted on 09/08/2011 12:05:20 PM PDT by Talisker (History will show the Illuminati won the ultimate Darwin Award.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bestintxas
Don't count on it w/Holder "running things" for "his people!"

This co must be run by a bunch of white people.

If we lived in a just country, FBI would raid NEA and all service employee gub'mint unions who got the rest of our $$$$$!

7 posted on 09/08/2011 12:05:21 PM PDT by zerosix (native sunflower)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Recon Dad

“Your title is wrong. Hundreds of Millions not Hundreds of Thousands.”

Dont blame me, just look at the article and call washtimes if you feel it is wrong.


8 posted on 09/08/2011 12:05:32 PM PDT by bestintxas (Somewhere in Kenya, a Village is missing its Idiot.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: dan on the right

Typo, the Wash Times is a conservative newspaper


9 posted on 09/08/2011 12:06:01 PM PDT by LRoggy (Peter's Son's Business)
[ Post Reply | Private Reply | To 4 | View Replies]

To: bestintxas

Is the FBR armed with flame throwers. Lot to cover up using conventional methods.


10 posted on 09/08/2011 12:07:06 PM PDT by Stentor
[ Post Reply | Private Reply | To 1 | View Replies]

To: bestintxas

Well, there goes all THAT evidence that will never be seen again.

Holder tying up all the loose ends.


11 posted on 09/08/2011 12:10:00 PM PDT by RetSignman (It's Summertime...the "Goebbles Warmers" are back from hibernation.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bestintxas
FBI agents on Thursday executed search warrants at the headquarters of Solyndra LLC, which was awarded more than $500,000 in federal stimulus loans

They dropped a few zeros there.

S/B over $500,000,000

12 posted on 09/08/2011 12:10:13 PM PDT by Harmless Teddy Bear (Can we ask questions which God finds unanswerable? Easily. All nonsense questions are unanswerable.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bestintxas; Truth29; Recon Dad; dan on the right; Talisker; zerosix; LRoggy

Call me unsophisticated but I can’t believe for a minute that all of this money was legitimately spent(wasted). I’m betting we’re going to be finding out in the weeks and months ahead just what sort of shady characters with chequered careers were running Solyndra and how much money went to Cayman Islands accounts or was spent in living large. Oh, and maybe that just some of that money found it’s way back into the pockets of Obama and his cronies.

This is a half-BILLION dollars we are talking about here!


13 posted on 09/08/2011 12:15:09 PM PDT by sinanju
[ Post Reply | Private Reply | To 1 | View Replies]

To: bestintxas

-——Solyndra LLC, which was awarded more than $500,000 in federal stimulus loans-——

On another thread today it was noted that Solandra received Federal Loan Guarantees. That is, the funds did not come from the government but from banks with the Feds as co signer.

That raises a big issue. If the funds are not actually provided under the stimulus appropriations, is there a big pool of non appropriated loan guarantees out there to make things worse still?

Do bank guarantees require quantified congressional approval?


14 posted on 09/08/2011 12:15:56 PM PDT by bert (K.E. N.P. +12 ....Rats carry plague)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bestintxas

Article missing three zeros. I agree that this could unravel his “residency”.


15 posted on 09/08/2011 12:16:36 PM PDT by jersey117
[ Post Reply | Private Reply | To 1 | View Replies]

To: bestintxas

This raid is about collecting all the company’s records so the corruption tying the Obama administration to the company can never be known to the public.


16 posted on 09/08/2011 12:16:42 PM PDT by NoControllingLegalAuthority (Where is the middle ground on insolvency of the United States government?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: bestintxas

A relevant question is the professional predigree of the founders; for a startup, even $20 million is a LOT. HALF A BILLION? The founders had better have DECADES of experience in solar.

If not? It screams, “pay off”.


17 posted on 09/08/2011 12:16:47 PM PDT by gaijin
[ Post Reply | Private Reply | To 1 | View Replies]

To: bestintxas

Read the article if you want to see if it’s wrong or not.

which received a $535 million loan from the federal government.


18 posted on 09/08/2011 12:16:54 PM PDT by Recon Dad ("Don't forget, incoming fire has the right of way..")
[ Post Reply | Private Reply | To 8 | View Replies]

To: dan on the right; Admin Moderator

$535 million loan

FR Keyword: Solyndra -— $535 million loan

at least a dozen articles

http://www.google.com/search?q=labor+day+hoffa+speech&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a#pq=labor+day+hoffa+speech&hl=en&sugexp=gsis%2Ci18n%3Dtrue&cp=15&gs_id=23&xhr=t&q=solyndra+535+million+loan+guarantee&pf=p&sclient=psy&client=firefox-a&rls=org.mozilla:en-US%3Aofficial&source=hp&pbx=1&oq=solyndra+535+mi&aq=0v&aqi=g-v1&aql=&gs_sm=&gs_upl=&bav=on.2,or.r_gc.r_pw.&fp=74e371c96a48f4b&biw=1171&bih=371

Admin Mod: Wash Times headline and sub-headline

FBI raids solar panel company hailed by Obama
Firm got $500,000 in stimulus funds

Wash Times got it wrong. Can you reflect correct $?


19 posted on 09/08/2011 12:16:57 PM PDT by thouworm (.)
[ Post Reply | Private Reply | To 4 | View Replies]

To: bestintxas
Solynda which was awarded more than $500,000 in federal stimulus loans in 2009 to make solar panels in what the Obama administration called part of an aggressive effort to put more Americans to work and end U.S. dependence on foreign oil.

Here you can see the ignorance and stupidity of the Obama administration. Solar will do next to nothing to end the dependency on Foreign Oil. Solar Energy only produces electricity and also can be used to heat water. 70% of Oil is used for Transportation. 25% of oil is used for other industrial purposes; chemicals, paint, etc. Only 2% of electrical energy is derived from oil. Most of that is in Hawaii or used for portable generation and the like. A construction site might use portable generators until they can hook up to the grid. Also hospitals and other facilities need diesel generator backups.

So Solar Energy doesn't do very much at all to decrease our dependency on foreign oil. But the public doesn't know this. And when people tell them that these subsidized companies are helping to reduce our dependency on imported oil, the average person will believe them. Outrageous.
20 posted on 09/08/2011 12:17:02 PM PDT by truthguy (Good intentions are not enough.)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-4041-42 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson