http://swampland.time.com/2011/10/07/more-solyndra-emails-detail-role-of-second-obama-fundraiser/
In another e-mail chain, Aditya Kumar, an aide to then Chief of Staff Rahm Emanuel and Vice President Biden, wrote to Spinner on August 19, 2009 to ask about concerns that had been raised about Solyndra’s future. “Folks here want to know what the funding community thinks of the Solyndra deal, and whether there are any concerns there,” wrote Kumar.
Spinner responded by saying he knew of no such concerns. He later forwarded a list of the private investors in the company, including a brief bio of George Kaiser, another Obama fundraiser who was one of the company’s major investors.
The administration didn't give them the money because they thought it was a great investment, they gave them the money because it was political payback.
It was known years before this loan that the Chinese were undercutting the business. They were manufacturing at $6.00 a unit and selling for $3.00, and the $6.00 cost was reduced from the even higher cost because of the new equipment. I don’t think that even Krugman, who is not the sharpest Nobel knife in the drawer, could pose a economic theory that would make this scenario plausible.
The article states that “Allison Spinner ‘was not involved with that transaction, nor has she ever worked with Solyndra in any capacity,’ Dorman said.”
The article fails to mention that according to the profile of Allison Spinner on the Wilson Sonsini website, she specializes in finance transactions in the clean energy sector.
I am Shocked. Really SHOCKED. ABC used the term “Elite”.
There also appeared to be objections from the Department of Treasury to the Department of Energy’s decision, in early 2011, to restructure the Solyndra loan — a restructuring that gave private investors the first opportunity to recoup some of their losses should the company fail.
Who in the Department of Energy Made the decision and WHY?
This was a Chicago money laundering Scam.