Beam me to Planet Gore !
Posted on 09/09/2011 7:49:12 AM PDT by sunmars
Officials from the Department of Energy have for months been sitting in on board meetings as "observers" at Solyndra, getting an up-close view as the solar energy company careened towards bankruptcy after spending more than $500 million in federal loan money.
Word of the Energy Department's unusual arrangement came as federal agents on Thursday converged on the California headquarters of the failed solar company, focusing fresh attention on the first corporate beneficiary of President Obama's stimulus program to create new clean energy jobs.
The company, which closed its doors last week and laid off 1,100 workers, has been a subject of an ongoing series of stories by the Center for Public Integrity's iWatch News in collaboration with ABC News.
Questions about the loan have been simmering for months. In 2009, the Energy Department put Solyndra's application on a fast-track for approval, and announced the award with great fanfare. The generous terms of the government loan included the lowest interest of all the green projects benefitting from Energy Department help, iWatch News and ABC News found.
And as part of the deal, the Energy Department agreed that if the company went bust, private investors could recoup their losses before the government. Republicans in Congress called the investment "a bad bet" and said it "put taxpayers at unnecessary risk."
(Excerpt) Read more at abcnews.go.com ...
Bingo. Why don't more people see this?
And all this media "coverage" is bullshit so then they can report that nothing was found and the administration is squeaky clean.
"And to make sure the money is properly spent, we’re building on reforms we’ve already put in place. No more earmarks. No more boondoggles."
Solyndra Filing a Disaster for Obama
In a blow to the Obama administration's efforts to create green jobs, solar-cell maker Solyndra announced Wednesday that it will close its remaining Fremont factory, lay off its 1,100 employees and file for bankruptcy. The bankruptcy represents a high-profile failure for a federal stimulus program that gives loan guarantees to green-tech manufacturers. Solyndra was the first company to win one of the guarantees, receiving $535 million in 2009.
http://www.nbcbayarea.com/news/local/Solyndra-Filing-a-Disaster-for-Obama-128816968.html
Ping.
...Yea, on this thread. Bravo...
A ready made Republican campaign commercial! Obama green Initiative Bankrupt!
Watergate?
How about SOLARGATE!
What did the president know and when did he know it?
Did they actually get and spend half a billion? I'm reading elsewhere (including some FR posts) that they did not.
Was Solyndra a union shop? I know its situated in Union city, perhaps that means the entire city is union...
That was the first thought that came to mind when I heard of the raid.
Friday news dump.
Ping.
Solyndra Board Meeting:
"Gentleman, things are not going well. We have spent all our money on the wrong things, and the Company is headed towards bankruptcy."
Obama Cabinet Meeting:
"Gentleman, things are not going well. We have spent all our money on the wrong things, and the Country is headed towards bankruptcy."
The FBI and Holder are part of the document destruction team to eliminate all links with the Obama administration. It will be years before we learn the facts, if at all.
From:
http://www.nbcbayarea.com/news/local/Solyndra-Filing-a-Disaster-for-Obama-128816968.html
Wow! From an NBC affiliate:
President Obama faces political catastrophe in the form of Solyndra .....
“President Obama faces political catastrophe in the form of Solyndra.....”
They used to report these types of things about the Great Klinton, and then a couple of paragraphs later they’d tell us where to send cash for his legal defense fund.
I think a joint committee of congress on the scale of Watergate or Iran/Contra should be convened immediately.
It would have been fun to give a republican response last night in front of these offices. It will make a great backdrop for commercials in the next election.
Somewhere in line behind them are we, the taxpayers, who involuntarily helped fund this modern Teapot Dome boondoggle.
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