Posted on 09/12/2011 8:00:11 PM PDT by icanhasbailout
Two months before the federal government provided a $535 million federal loan to the company, auditors found that Solyndra, the bankrupt solar company, had significant financial difficulties, Bloomberg reports.
In a deepening scandal that threatens to ensnare members of the Obama administration, PricewaterhouseCoopers found that the company's finances “raise substantial doubt about its ability to continue as a going concern.” Two months later the company was awarded the loan under a green jobs program.
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House Republicans have been investigating terms of the loan since earlier this year — and will hold a hearing on it on Wednesday. Republicans assert that the Obama administration fast-tracked the loan without following proper procedures.
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Bloomberg reported that the administration rejected the company's request to renegotiate the terms of the loan the day before the company went under.
(Excerpt) Read more at businessinsider.com ...
The only problem with these scandals is that the MSM will not pursue them. They will be limited to Fox, Breitbart and conservative talk shows.
If these two things had come up during the Bush era, the MSM would beat it like a rented mule until administration officials were terminated one way or another.
Another classic CYA caper in the making! :-)
Move on folks, nothing more to see here. This story will never ever get legs. Why? Only way it will become a big story is if State-run, lame-stream, progressive-communist,
liberal media starts reporting the story and doing in-depth reports. WE ALL KNOW THIS WILL NEVER, EVER HAPPEN!!
One only needs to look at the gun running at Justice. Where is that story going? Nowhere. State-run media is in love with BHO and will cover his ass - whatever it takes they will do what is necessary.
Did they have a corporate jet?
I spoke today to a very reliable source who says that all evidence points to this being a mob operation to fleece money via reverse mergers, bogus IPOs and government loans.
I would be willing to bet that most all of the money has fled offshore by now and that some patsy has been left holding the bag. That’s the way the Mob does it: they always set up the fall guy to take the heat off of them.
ABC radio news on the hour just referenced this story. Maybe the Dems will use this to pressure The One to not run.
Who absconded with the $535,000,000?
Dare I hope Bambi is the patsy?
Obviously cash was siphoned off.
They had a Solar Powered Obama G5, but it never got off the ground, just like Obama’s Economic Policies.
If Holder has co-opted the FBI in a coverup, that is very dumb and very dangerous.
I almost hope he has.
It’s already got legs, up to the knee anyway - and it’s just getting started.
I think half-a-billion bucks could be difficult to ignore.
Who is going to stop them?
Too much CYA by both sides
And why would that be the case. Who on the Republican side would be involved in this?
Not necessarily in this case. They have dirt on each other for all sorts of things.
I hope you’re right.
Thanx very much for the insight. Just curious. Would that be the illegal Mob, or the legal Mob?
Enron x one million.
If by "both sides" you mean the Obama administration and the MSM, you are correct. If you mean that Republicans had something to do with this, you need to put down the crack pipe.
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