Posted on 08/31/2015 7:36:55 AM PDT by george76
An Inspector General of the Department of Energy report that picked over the bones of the Solyndra green energy fiasco placed most of the blame on Solyndra executives for losing more than $500 million in taxpayer money.
But a close reading shows DOE made plenty of mistakes as well.
The report authored by DOE Inspector General Gregory H. Friedman came just short of calling Solyndra’s highest officials liars, saying their actions during the loan process were “at best, reckless and irresponsible or, at worst, an orchestrated effort to knowingly and intentionally deceive and mislead the Department.”
While the 13-page report also criticizes DOE officials for not sufficiently vetting Solyndra and mentions political pressure placed on unnamed DOE employees to get the loan pushed through as part of the Obama administration’s stimulus program, it does not go into many specifics — especially about the political aspect of the case.
Instead, the report placed the lion’s share of fault on the solar company’s officials, saying they “were at the heart of this matter” that soaked U.S. taxpayers of more than half a billion dollars in federal loans after the company went broke.
...
a week before the loan closing, an employee noticed the price of rooftop solar systems was projected to be much lower than Solyndra’s estimates and sent three emails to top DOE loan officials alerting them to the issue. “Yet, no action was taken,” the report said. “Instead, it was apparently disregarded.”
Later in the report, the inspector general mentions political stress placed on employees at DOE.
...
There was a lot of political pressure put on bureaucrats to approve loans to Solyndra ... The report shies away from getting too close from that question.
...
So if Solyndra’s behavior was so outrageous, will its executives get prosecuted?
(Excerpt) Read more at watchdog.org ...
Ya think? Gee. Gosh. I’m surprised.
Wait - Maybe these guys will investigate the IRS next!
Solyndra is owned by the same people who owned the gas/oil company that 0s great ggrandfather received a small percentage of sales from the leases he wrote for mineral rights as long as the wells were productive. Some are still producing wells. Check oout 0s schedule E for income from the family trust. Conflict of interest hidden by emphasizing the Dreams of his Father not the wealth of his mothers people
The place was liquidated, lock stock and barrel, and cut to pieces within 90 days of declaring bankruptcy.
Never seen a liquidation move so fast.
Awful fast for a company the Obama Admin wanted to give a second round of 200 million dollars in funding just a a few months before
Guess they did not want anyone taking too close of a look
It served the purpose of laundering taxpayer dollars into democrat campaign coffers.
If we’d just let the democrats write checks to themselves out of the treasury,
they wouldn’t have to jump through hoops like this.
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