Posted on 09/17/2011 12:01:02 PM PDT by tomd2
If you want to find out what happened with Solyndra you have to follow the money. I did. The half billion dollars of taxpayer dough that is probably lost in Sol came from the Federal Financing Bank (“FFB”). It’s worth a look at this bank to see what else is going on.
FFB is a bank that is owned and controlled by the US Treasury. The chairman of the Board is the TSec. (Tim Geithner). With the (big) exception of the Post Office all of the loans at FFB are guaranteed by government agencies. Technically speaking, FFB has no risks on loans guaranteed by an agency like the DOE. But I don’t think that should absolve Tim Geithner of any responsibility regarding the losses the country faces with Solyndra. If he, (or anyone else at Treasury) puts their pen to a ½ billion loan, they better well know where the taxpayers money is going. That didn’t happen.
(Excerpt) Read more at zerohedge.com ...
Greece Pushes $1.4 Billion in Solar Investment to Boost EconomyIt wouldn't be too much of a stretch to wonder if US taxpayer money is being funnelled to solar promoters through Greece, at the direction of the IMF, which is at the direction of Christine Lagarde, who was tutored by David Lipton, who is a former Obama "advisor." Mr. Lipton, who wrote The Lagarde Dictum which was unleashed at Jackson Hole recently, serves as Miss Lagarde's "first deputy" at the IMF. According to Bloomberg, he also "held various positions" at Clinton's Treasury in the 1990's.
~~more.
I wish.
I'm having trouble finding anything from a major news outlet since Sept. 8 that mentions Solyndra in the context of criminal investigation. All the MSM is doing now is running interference for the Obama whitehouse with stinking piles of stories about how this is a minor setback on the road to green jobs.
Great info. Thanks.
Steve Spinner...
http://www.chicagotribune.com/news/nationworld/la-na-solyndra-donor-20110917,0,1142974.story
The chairman running the hearings was on the Larry Kudlow radio show this morning. He mentioned Spinner as a person of interest. They’re having more hearings at the end of next week but he thinks they’ll take the 5th.
Comment at site: ‘Separately I understand that Abound Solar is connected to a prominent congressman.’
Anyone heard anything???
There will be more to come. The head of Solyndra as well as some other players are going before Congress late this week. Rep. Cliff Stearns who sits on the committee said as much on Kudlow’s radio show today. Stearns said it wasn’t known whether they would get anything out of them or if they might plead the Fifth. It will be interesting to see how lawyered up they are and if they are, what connections their lawyers have to the Obama administration.
Whether or not the DBM media ignores it is beside the point. If a tree falls in the woods and no one hears it, it can still do a heck of a lot of damage.
Today’s interesting tidbit from the LA Times (this is precious):
“Steve Spinner, who helped monitor the Energy Department’s issuance of $25 billion in government loan guarantees to renewable energy projects, was one of Obama’s top fundraisers in 2008 and is raising money for the president’s 2012 reelection campaign.
Spinner did not have any role in the selection of applicants for the loan program and, in fact, was recused from the decision to grant a $535-million loan guarantee to Solyndra Inc. because his wife’s law firm represented the company, administration officials said Friday.”
Beat me to it. Kudlow’s segment on Solyndra today was the best I’ve heard from any media outlet this week. Every day it gets more incredulous and more incestuous.
This just sounds like a big money laundering scheme disguised as a green agenda. The investors and Obama bundlers had to know their investment wasn’t worth a thing, but it didn’t matter because there was no risk. They were going to be paid off with taxpayer money.
And a big whoopsie to Perry supporters if this is true:
jhanzel1298 at 12:30 PM September 17, 2011
FYI ~ Steve Spinner’s career spans nearly twenty years in the technology, media, energy, and retail industries. Mr. Spinnerhad been an active advisor and investor to over thirty leading technology companies, helping entrepreneurs, like TESLA (my emphasis), grow their ventures (socialist ventures - bronxville), focusing on incorporation, financing, product development, organizational behavior, business development, and sales and marketing.
Networks, a voice ASP company, which was sold to AT&T in 2001. Mr. Spinner was Senior Vice President of
http://www.entforum.caltech.edu/past_archive/bios0510.pdf
Regarding the “competition:
Over three terms in office, Mr. Perry’s administration has doled out grants, tax breaks, contracts and appointments to hundreds of his most generous supporters and their businesses. And they have helped Mr. Perry raise more money than any politician in Texas history, donations that have periodically raised eyebrows but, thanks to loose campaign finance laws and a business-friendly political culture dominated in recent years by Republicans, have only fueled Mr. Perry’s ascent. … helped get off the ground.McHale gave Perry $100,000 and in May 2010 an economic development fund administered by the governor’s office handed $3 million to G-Con, a pharmaceutical start-up that Mr. McHaleJohn
I think this is the Abound Solar connection. It’s Kanjorski’s nephew, but he’s no longer a congressman as he lost to Barletta last Nov.
ZH mentioned TESLA as one of the companies who was getting loan guarantees from the FFB. One more step of incest.
This Spinner guy needs to be on the hot seat.
Wonder how many times he’s visited the WH.
“This just sounds like a big money laundering scheme disguised as a green agenda.”
You nailed it. They’re robbing us blind and our representatives just sit and take it or are they in on the heist?
But was he in on it before he left? I’ve often wondered at Judd and his vote for montano before he left. One wonders where he or a relative are working now. I’ve always felt there should be no jobs around DC for at least two years after they leave because many never really leave. They’re either in top jobs at the UN, lobbyiests, lucrative jobs at these companies that suck off the governments teat.
Pass the Popcorn....
Solyndra $535 Million- Bankrupt
Tesla Motors $465 Million to build $120k sports cars for millionaires & billionaires
Fisk Automotive $529 Million To build $90,000 hybrid sports car in FINLAND!!!
CHINA $?????
I’m sure someone here has a better list.
montano = monsanto
I couldn’t download and open the whole record to my computer for a search because it was too big, but a cursory look at the records (sorted by last name) for Steve or Stephen Spinner revealed a bunch of visits (couple dozen at least) to the WH in late 2009 to early 2010. Maybe they’re not all the same Steve Spinner.
http://www.whitehouse.gov/briefing-room/disclosures/visitor-records
Stearns and the committee may be interested in finding out whom Spinner met with and what was discussed during all those visits. Spinner was an adviser to the energy secretary, so it wouldn’t have been unusual for him to be a the WH, but this was a big flurry of activity.
I couldn’t get a screen shot because the way it was displayed on the website didn’t show all the records, inc. date, at once.
I have seen this too many times. Nothing ever happens because both Parties and the bureaucracy are all in cahoots together. Common defenses - 'kick the can down the road' 'sweep it under the carpet' ' nothing to see here, move along' - and my favorite - 'the IRS is very interested in you, are you sure you want to proceed with your accusation'
I have seen this too many times. Nothing ever happens because both Parties and the bureaucracy are all in cahoots together. Common defenses - 'kick the can down the road' 'sweep it under the carpet' ' nothing to see here, move along' - and my favorite - 'the IRS is very interested in you, are you sure you want to proceed with your accusation'
Thanks for the link. I’m going to read it after I make the popcorn.
The executive branch has a lot of money at its disposal that isn’t monitored very closely by Congress. Also between 2008-2010, both branches of Congress were Dem, so they wouldn’t have cared.
Since the GOP took over, things are starting to move along, but there’s a lot of catching up to do. Subpoena power means a lot.
Other electric car manufacturer are contracting with Tesla to use their motors which are superior for this application.
However, the coupe is still in the $70-80K range but still a nice car if your driving habits allow for the long charge times exhibited by ALL pure electric vehicles.
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