Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

White House 'Pressure' Got SolyndraA DOE Loan It 'Should Never Have'
FoxNews.com ^ | August 2, 2012

Posted on 08/02/2012 9:52:31 AM PDT by topher

"Political pressure" by a White House eager to tout its stimulus agenda was largely to blame for fast-tracking the ill-fated $535 million Solyndra loan guarantee, according to findings in a massive new congressional report released Thursday morning.

The report, by Republicans on the House Energy and Commerce Committee, caps a nearly yearlong investigation by the panel into why the government allegedly ignored red flags to approve the loan. Solyndra, a solar-panel firm, filed for bankruptcy last year.

"It is clear DOE should never have issued the loan guarantee to Solyndra," the report said, adding that a subsequent decision to restructure the terms "violated the plain language of the law."

(Excerpt) Read more at foxnews.com ...


TOPICS: News/Current Events
KEYWORDS: 2012; corruption; cultureofcorruption; democratcorruption; democrats; envirofascism; fraud; globalwarminhoax; greenfraud; obama; solyndra; thegreenlie; whitehouse
Navigation: use the links below to view more comments.
first previous 1-2021-4041-48 next last
To: Leep

I hear Republicans say they wish they had Bill Clinton back. Bill was no better than Obama.


21 posted on 08/02/2012 10:27:02 AM PDT by bmwcyle (Corollary - Electing the same person over and over and expecting a different outcome is insanity)
[ Post Reply | Private Reply | To 19 | View Replies]

To: bmwcyle

Bill was no better than Obama.


Ethically or morally sure. However, BJ Clinton could be made to do the right thing. Even if he had to be dragged kicking and screaming.
With Obama they act like they are affraid of him. Because he’s half black?


22 posted on 08/02/2012 10:31:05 AM PDT by Leep
[ Post Reply | Private Reply | To 21 | View Replies]

To: frogjerk
So many laws broken by this administration and this president but no one will lift a finger.

The ruling class elites always protect their own.

23 posted on 08/02/2012 10:32:22 AM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
[ Post Reply | Private Reply | To 3 | View Replies]

To: SpaceBar; All
Michelle Malkin has this article on this:

The loan was restructured so that Executives of the Company had priority over taxpayers on repayment...

Congressional report preview: Solyndra was too green to fail… at least until investors took priority over taxpayers for repayment

That article quotes the following from the Washington Post (excerpt of an excerpt):

The restructuring went forward, but within months Solyndra failed anyway, leaving federal taxpayers on the hook for much of the half-billion-dollar federal loan. Now, a year after the company’s collapse, debate continues over whether the refinancing plan was legal or a wise investment. Last week, Solyndra’s final liquidation plan estimated that the government will recover just $24 million of the $527 million that taxpayers lent to the company.

The Doug Powers/Michelle Malkin article was posted at 11:30am... Very recent news...

24 posted on 08/02/2012 10:32:27 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
[ Post Reply | Private Reply | To 15 | View Replies]

To: Leep

I think that is what folks on the conservative side hope for Romney. That if he is not a true believer at least he can be pressured to do the right thing.
Romney certainly knows how to get fighters behind him or, maybe its the other way round. The fighters are getting behind Romney?


25 posted on 08/02/2012 10:35:46 AM PDT by Leep
[ Post Reply | Private Reply | To 22 | View Replies]

To: topher; All
Michlle Malkin's article (by Doug Powers) is based on this Washington Post article:

Washington Post: White House analyst warned saving Solyndra could cost more than letting it fail

So even the Washington Post is leading the way in criticizing the Administration...

26 posted on 08/02/2012 10:36:21 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: topher
"It is clear DOE should never have issued the loan guarantee to Solyndra," the report said, adding that a subsequent decision to restructure the terms "violated the plain language of the law."

I don't suppose I should hold my breath until the first arrest is made.

27 posted on 08/02/2012 10:40:39 AM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: topher
"It is clear DOE should never have issued the loan guarantee to Solyndra," the report said, adding that a subsequent decision to restructure the terms "violated the plain language of the law."

How do they reconcile that statement with the following?

The report did not level corruption charges at the administration, despite early suggestions by lawmakers that cronyism was at play.

28 posted on 08/02/2012 10:52:15 AM PDT by Homer_J_Simpson ("Every nation has the government that it deserves." - Joseph de Maistre (1753-1821))
[ Post Reply | Private Reply | To 1 | View Replies]

To: bmwcyle

Bill could go a week or two without doing anything stupid.

Obama’s a jackass every single day.


29 posted on 08/02/2012 10:56:17 AM PDT by Psycho_Bunny (OWS = The Great American Snivel War)
[ Post Reply | Private Reply | To 21 | View Replies]

To: topher

Another impeachable offense. Yawn. Wake me up when somebody in Washington besides Huma Abedin grows some balls.


30 posted on 08/02/2012 10:58:55 AM PDT by atc23 (The Confederacy was the single greatest conservative resistance to federal authority ever.u)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Moonman62
I don't suppose I should hold my breath until the first arrest is made.

Sounds to me like the GOP is classifying this as "run-of-the-mill corruption". And, as we all know, "run-of the-mill corruption" is not prosecutible in Washington.

31 posted on 08/02/2012 10:59:23 AM PDT by okie01 (The Mainstream Media: IGNORANCE ON PARADE)
[ Post Reply | Private Reply | To 27 | View Replies]

To: Moonman62
I don't suppose I should hold my breath until the first arrest is made.

Sounds to me like the GOP is classifying this as "run-of-the-mill corruption". And, as we all know, "run-of the-mill corruption" is not prosecutible in Washington.

32 posted on 08/02/2012 10:59:40 AM PDT by okie01 (The Mainstream Media: IGNORANCE ON PARADE)
[ Post Reply | Private Reply | To 27 | View Replies]

To: bmwcyle

Well I heard Bill Clinton swung to the right.


33 posted on 08/02/2012 11:00:13 AM PDT by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
[ Post Reply | Private Reply | To 21 | View Replies]

To: listenhillary

Bill killed friends, gave the Chinese tech items, and raped women. Do all of you have short memories?


34 posted on 08/02/2012 11:03:43 AM PDT by bmwcyle (Corollary - Electing the same person over and over and expecting a different outcome is insanity)
[ Post Reply | Private Reply | To 33 | View Replies]

To: bmwcyle

I didn’t mean swings politically to the right.


35 posted on 08/02/2012 11:06:57 AM PDT by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
[ Post Reply | Private Reply | To 34 | View Replies]

To: topher
Proof that the current renewable energy Production Tax Credit works:

- it requires a project to actually produce energy (not a useless product) to get the $.022/kWh credit
- projects that maximize energy production get financed by market participants (not the government)
- it's the primary driver behind increased efficiencies and lowering the cost of wind energy (as low as $.30/kWh flat for 20 years)

36 posted on 08/02/2012 11:14:02 AM PDT by DTogo (High time to bring back the Sons of Liberty !!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SpaceBar
The specific problem would be the following (from the Washington Post article):

Republicans have accused the administration of favoring Solyndra because its largest investors were funds linked to Oklahoma billionaire George Kaiser, a fundraiser for the president.

Basically, this guy George Kaiser was a fundraiser for Obama and yet he is also tied to being the largest investor in Solyndra.

And if one restructures a loan so that I loan you money but then make it so that you get first claim on any money if bankruptcy occurs.

Since the Billionaire controlled the campaign funds for Obama and for Solyndra, the money lent to Solyndra could easily have made it into President Obama's hands or into Michelle Obama's hands and be 'legal' -- if you consider this type of loan legal.

Which is precisely why it is referred to as money laundering and illegal loan.

What happened is the following:

1. Billionaire controls Solyndra and is Obama Fund Raiser.

2. Loan is illegally restructured that in case of default, the money goes to Obama's agent the Billionaire, which then could go directly to Obama.

3. Company does default, and the taxpayers get only $24 million. The other $527 million goes to the Billionaire and indirectly to Obama.

4. The FBI did raid the Silicon Valley offices of Solyndra since they considered illegal activity was going on.

I imagine there are some lay terms for this illegal activity. But it is clearly illegal if the president pressures for a loan that directly benefits him (in terms of how the loan is structured).

Maybe Solyndra is Obama's retirement fund...

37 posted on 08/02/2012 11:17:57 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: frogjerk

Wouldn’t Eric Holder have to be the finger lifter? Nuff said.


38 posted on 08/02/2012 11:18:14 AM PDT by CityCenter
[ Post Reply | Private Reply | To 3 | View Replies]

To: topher
"4. The FBI did raid the Silicon Valley offices of Solyndra since they considered illegal activity was going on. "

Where are these records? What is the status of this investigation? Were those even real FBI officers?

39 posted on 08/02/2012 11:42:05 AM PDT by Mr. K ("The spread of evil is the symptom of a vacuum [of good]")
[ Post Reply | Private Reply | To 37 | View Replies]

To: CityCenter
Wouldn’t Eric Holder have to be the finger lifter? Nuff said.

What about Obami basically eviscerating the immigration law passed by executive order, scraping the welfare reform law passed by congress and signed by BJ Clinton and Elena Kagan not recusing herself as required by U.S. Code. Action against all of the above would require Congress to simply do their jobs.

40 posted on 08/02/2012 12:03:44 PM PDT by frogjerk (OBAMA NOV 2012 = HORSEMEAT)
[ Post Reply | Private Reply | To 38 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-48 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson