Posted on 02/08/2012 7:17:05 PM PST by Nachum
Its incredulous that the government officials knew very well that this business was doomed before the funds were issued. I spoke with a colleague in the clean tech space this week who told me that he personally advised government officials that the existing investors had already given up on the company and that it would certainly fail. He was concerned about misrepresentation incrimination. The officials didn’t care at all that the tax payer money would be wasted (or worse, knew that it was to be used to pay off cronies).
That’s what crooks do. When one scam heads south, they recover what they can and move on to the next one. No doubt Solyndra Solar II will give lots of $$ to superPACs that support Barry and its execs will give all the support they can to Barry.
Chicago politics, western division.
IMO, this was all just plain FRAUD.
This was a scam decided on from the very beginning. They never intended to build solar panels but instead to take taxpayer money being wasted on “Green” Energy and divid it among as many Obama supporters as possible. The unions won, the investors won, and a few others perhaps but the big loser was us, the taxpayers. This badly needs to be prosecuted by someone else if we can’t trust the Justice Department.
Never getting over how Solyndra smashed millions of dollars worth of glass tubes for no reason. It’s like dumping kegs of milk during the depression.
Report: Solyndra Sold Assets Cheap to Entity with Close Ties to Investors
http://michellemalkin.com/2012/02/09/solyndra-assets/
Liz: See also post 14
Transferring assets prior to filing for Bankruptcy is a BIG no no. The look-back period for the US Trustee is years. This is amazing....
contrary to standard lending practices, Obama’s supporters, not the taxpayers, had the only claim to the firm’s assets.
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