Posted on 08/28/2015 4:43:22 AM PDT by thackney
A four-year investigation has concluded that officials of the solar company Solyndra misrepresented facts and omitted key information in their efforts to get a $535 million loan guarantee from the U.S. government.
Solyndra was the first company to get federal loan guarantees under a program that was created in 2005 and expanded by President Barack Obamas 2009 economic stimulus package.
The companys failure soon after receiving the loan guarantee likely will cost taxpayers more than $500 million. Republicans and other critics cite it as an example of wasteful spending under the stimulus program.
The report by the Energy Departments inspector general was released Wednesday....
(Excerpt) Read more at wsj.com ...
Wholly politicized DOJ. We’ve lost the republic long ago.
Written laws are like spiders’ webs, and will, like them, only entangle and hold the poor and weak, while the rich and powerful will easily break through them. - Anacharsis
The $500 mill should be deducted from the Energy Dept. budget ..... when departments totally waste taxpayer money like this, there should be some sort of repercussion if there isn’t going to be jail time for those who are responsible. Since the government was complicit & they “should” spend OUR money wisely, they should bear responsibility in a way that they will feel. IF the department can’t function with such a cut, then they should close up shop.
The government shouldn’t be in the business of guaranteeing business (or student or residential mortgage or other) loans at all. Period.
That’s right.
But in ‘05 it was a minor nuisance that wasn’t used much.
But come ‘09...
Can there be any doubt that we have a Uniparty?
Fraud - by any other name is still fraud. but nobody is in jail. Would that be the case in the average person’s life who steals millions? (great post thackney)
I know of several cases from past years whereby those who falsified federal documents for loans and grants who spent time in a federal prison. And their infractions were for far less than this case.
So, who is going to jail?
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