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Obama's Pet Billionaire at Solyndra Make Take White House Down
Early press reports following Solyndra's bankruptcy announcement disclosed that hundreds of thousands of dollars were contributed by shareholders and executives of Solyndra to the Obama 2008 campaign. One of the company's largest investors, George B. Kaiser of Tulsa, reportedly contributed $53,500 personally and bundled large amounts more for Obama in 2008. Kaiser is a billionaire with banking and oil and gas interests that rank him among the wealthiest people in the world. Kaiser also visited the White House 16 times between 2009 and 2011. The White House public records indicate that three of Kaiser's visits were on March 12, 2009 and one the following day in which he met with "a Senior Advisor, the former Chairman of the Council of Economic Advisors, the Deputy Director of the Domestic Policy Council, and the Deputy Director of the National Economic Council." The $535 million loan was officially approved one week later.
Officials from the Department of Energy have for months been sitting in on board meetings as “observers” at Solyndra, getting an up-close view as the solar energy company careened towards bankruptcy after spending more than $500 million in federal loan money. Word of the Energy Department’s unusual arrangement came as federal agents on Thursday converged on the California headquarters of the failed solar company, focusing fresh attention on the first corporate beneficiary of President Obama’s stimulus program to create new clean energy jobs…
Questions about the loan have been simmering for months. In 2009, the Energy Department put Solyndra’s application on a fast-track for approval, and announced the award with great fanfare. The generous terms of the government loan included the lowest interest of all the green projects benefitting from Energy Department help, iWatch News and ABC News found.And as part of the deal, the Energy Department agreed that if the company went bust, private investors could recoup their losses before the government.
Emails: Obama White House Monitored Huge Loan to 'Connected' Firm
Quote:
"This deal is NOT ready for prime time," one White House budget analyst wrote in a March 10, 2009 email, nine days before the administration formally announced the loan.
"If you guys think this is a bad idea, I need to unwind the W[est] W[ing] QUICKLY," wrote Ronald A. Klain, who was chief of staff to Vice President Joe Biden, in another email sent March 7, 2009.
Obviously, the West Wing didn't listen.
The Left's BUSHBUSHBUSH connection falls apart here;
Quote:
The results of the Congressional probe shared Tuesday with ABC News show that less than two weeks before President Bush left office, on January 9, 2009, the Energy Department's credit committee had voted against offering a loan commitment to Solyndra.
Obama Team Backed $535 Million Solyndra Aid as Auditor Warned on Finances
Quote:
The Obama administration stood by Solyndra through the auditor’s warning, the abandonment of a planned initial public offering and a last-ditch refinancing where taxpayers took a back seat to new investors. That unwavering commitment has come under increasing scrutiny since the company’s travails culminated in its filing for bankruptcy protection on Sept. 6 and a raid on its headquarters by the Federal Bureau of Investigation two days later.
Quote:
Under the terms, $75 million in private financing will be paid ahead of all but $150 million of the federal government’s stake from any revenue from the sale of the company or its assets if Solyndra is liquidated, according to the January document.
Meaning obama made sure his bundler/donor got his investment back before the taxpayer.
Not even ABC can spin and cover for obama - a devastating piece (for obama) by ABC here;
Unless Obama has a time machine, in violation of physics and rationality, it's a multi-party problem.
Quote:
That's because Solyndra first came into the picture during the Bush administration, when it was one of just 16 firms found eligible for several billion dollars available in the Energy Policy Act of 2005's guaranteed loan program.
Further, the Bush administration nearly pushed a guaranteed loan through for Solyndra the day before Obama took office, ThinkProgress reported.
What was that old saying? "Lies have traveled the world by the time truth has only put on its shoes".
", a renewable energy firm that became the darling of the Obama Administration, shut the doors to its California headquarters today, raising sharp questions from the administration's critics about political favoritism in the federal loan program.
"We smelled a rat from the onset," Republican House Energy and Commerce Committee members Rep. Cliff Stearns and Rep. Fred Upton said in a statement to ABC News of the the $535 million government loan guarantee awarded to Solyndra in 2009."
"That's when the Government Accountability Office issued an unusually blunt assessment of the Energy Department's loan program, concluding that the department had "treated applicants inconsistently, favoring some and disadvantaging others.""
", a renewable energy firm that became the darling of the Obama Administration, shut the doors to its California headquarters today, raising sharp questions from the administration's critics about political favoritism in the federal loan program.
"We smelled a rat from the onset," Republican House Energy and Commerce Committee members Rep. Cliff Stearns and Rep. Fred Upton said in a statement to ABC News of the the $535 million government loan guarantee awarded to Solyndra in 2009."
"That's when the Government Accountability Office issued an unusually blunt assessment of the Energy Department's loan program, concluding that the department had "treated applicants inconsistently, favoring some and disadvantaging others.""
Certainly does!
1) The Bush team tried to conditionally approve the Solyndra loan just before President Obama took office.
2)The company’s backers included private investors who had diverse political interests.
3)The loan comprises just 1.3% of DOE’s overall loan portfolio. To date, Solyndra is the only loan that’s known to be troubled.
Unless Obama has a time machine, in violation of physics and rationality, it's a multi-party problem.
What was that old saying? "Lies have traveled the world by the time truth has only put on its shoes".
AHhhh, It's too bad though that YOUR man is now being investigated and .. IT IS his problem NOW!
Obama donor TOO?
Ain't looking too good for your home team .. EVEN when using the Bush Did It whine .. Now does it!?
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Solyndra: Bankrupt Solar Company A Republican Problem, Not Just Obama's
