Posted on 09/19/2011 7:04:49 AM PDT by ilovesarah2012
WASHINGTON — The Obama administration restructured a half-billion dollar federal loan to a troubled solar energy company in such a way that private investors — including a fundraiser for President Barack Obama — moved ahead of taxpayers for repayment in case of a default, government records show.
Newly released emails show that the Obama administration was worried about the financial health of a troubled solar energy company even as officials publicly declared the company in good shape. An email from a White House budget official to a co-worker discussed the likely effect of a default by Solyndra Inc. on President Barack Obama’s re-election campaign.
Administration officials defended the loan restructuring, saying that without an infusion of cash earlier this year, solar panel maker Solyndra Inc. would likely have faced immediate bankruptcy, putting more than 1,000 people out of work.
Even with the federal help, Solyndra filed for Chapter 11 bankruptcy protection earlier this month and laid off its 1,100 employees.
The Fremont, Calif.-based company was the first renewable-energy company to receive a loan guarantee under a stimulus-law program to encourage green energy and was frequently touted by the Obama administration as a model. Obama visited the company's Silicon Valley headquarters last year, and Vice President Joe Biden spoke by satellite at its groundbreaking.
(Excerpt) Read more at ajc.com ...
And the silence of the MSM is deafening.
It’s starting to become more and more obvious why “BIG business” capitolists went over to the side of the communists in 2008. They wanted their cut of Barry’s “wealth redistribution” scheme.
We need to see their donations to Obambi
I am guessing it went like this- “We have a pile of cash invested in this disaster that is going to go bankrupt. You seem to like this ‘green technology’ stuff, so structure us a loan that covers our asses and we’ll make a nice hefty donation”
I have no doubt that somehow some of this money went to Obama.
Except that the Atlanta Journal Constitution is part of the MSM and a known liberal part of it at that. It is significant that sources such as this one are telling the truth about Obama, maybe a sign of things to come.
In the AJC?? You’re kidding me. I thought they would be the very last to print anything even mildly critical of obamao.
A Republican president would have had to resign long before now, making Nixon look honest by comparison.
What a Peas of Sh!t pres(id)ent.
Business is business. If you dont jump on board whatever the current gravy train is, your competitors will.
That is why we need to spread the message that BOTH PARTIES or good at this crapola- but at least some in our party are aiming for SMALLER GOVERNMENT
And the ones that aren;t should be PRIMARIED OUT
Starting with John Boehner
Genius !
Is anyone angry yet?
They recently replaced their Editor In Chief and are trying to become more ‘balanced.’ Still I won’t buy a copy....
And this is why corporations are just like government. They are corrupt, they should never be trusted and they are more dangerous the bigger they get. Like government, they are to some extent necessary, but don't ever think they are there to advance your interests. They are both there to advance their own interests.
That's because in a Communist society high-ranking members of the Party always get preference over the proletariat.
Yeah - really surprised me.
Bingo +1
Both parties have done the play-for-play/crony-capitalism thing.
Why do you think our tax code is so long and complicated? It’s full of excemptions that were bought by campaign donations. I can remember decades ago the case of a tax exemption added for wineries, but the way the law was written only one winery in the country would meet all of the criteria—in other words, some Calif. winery had gotten the tax law changed just for them by donating some cash.
The GOP establishment is not made up of a bunch of saints.
People should go back over “Brave New World.”
The soft, paternalistic govt described in it is much closer to where we’re headed (imho) than Rand’s vision.
“Brave New World” is the end result of where crony capitialism, where the government and business finally merge into a single entity.
BTW, full British movie version is available on google movies. Poor quality, but free.
I believe they are doing another version to be released in 2011 or 2012. That’s should be interesting timing.
Just like he did with GM and Chrysler. If you are an FOB (Friend of Barack) you go to the head of the line. Why are they just catching onto it now?
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