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 ...
There have been two REPUBLICAN debates in the past week and I have Not heard one Candidate mention Fast and Furious,or Solyndra,so why should the media cover it if the Idiots running for President dont mention it?
Like Barak and Rezko, somethings never change...
Poor Rod-Blago and T-Rezko, they missed out on the latest Kenyan deal.
Oliver’s character Gekko in his latest Wall Street movie says Green is the next bubble. I would say he is correct.
-——535 million and the bass turds still go bankrupt.-——
I think you miss the point. The company was not in business to do business, the company existed to receive a half billion dollar loan. The reason for the company was to steal half a billion from the treasury.
Heads should roll...... literally. with dripping blood and all that goes with detached heads. Including and perhaps most important , placed on pikes for all to see for ever.
I don't have a reference, but I thought I saw somewhere that a huge chunk of that money went to pay for construction labor, a lot of it at time-and-a-half or more, with guys double-shifting and working 6 days a week for all of the overtime.
Union construction guys, of course.
This would be Mob like you find in the Sopranos. However, we would certainly imagine that legal mobs like the Democratic Party were involved and received their cut.
I guess Alan Lichtman will have to rescind his speculation that Obama will win...
Thanks for the info, popsionice.
$535 million bucks, hey if somebody was able to skim even ten percent, that make Jed Clampett look like I dunno, some kinda hillbilly or something!
Doesn't have to be a cover up...just needs to delay and obfuscate until the election under cover of an ongoing investigation, then if zero wins it would be easy to drag it out for four more years. If zero loses the republicans will drop it to avoid convicting an ex-president...remember Clinton?
This certainly appears to be the definition of "high crimes and misdemeanors", but the republican house won't impeach zero because the Senate would never convict him.
If it were a Republican in the White House the pimps in the media would be going crazy over this 24/7.
Bammie will skate as usual.
Do you know what Solyndra’s claim to fame was? Cylindrical solar panels (collectors actually) that could be mounted anywhere and did not need expensive anchoring schemes to secure them against the wind. They also could pick up sun without being reoriented for better exposure. This propaganda is on the internet. http://blog.syndicatedsolar.com/?Tag=Solyndra%20Cylinder%20Module
http://www.solyndra.com/technology-products/cool-roofs/
Solyndra is a clever (not so clever now) fusion of the “solar” plus “cylinder”
To form photo voltaic material into a cylinder is going to be more expensive than regular solar panels but this didn’t stop the geniuses at Solyndra
It has long been my thought that bankers like to go for rides but lack the initiative or courage to drive themselves.
Soylandra knew this in spades and cooked up a pretty ride and took Obama et al along. Considering the kickbacks, they just couldn’t resist.
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