Skip to comments.FBI agents executing search warrant at Solyndra
Posted on 09/08/2011 8:29:25 AM PDT by kiryandil
(Excerpt) Read more at mercurynews.com ...
This is the evidence that the FBI is after:
from Bloomberg: In February, Solyndra and its lenders reorganized the companys debts, putting the U.S. loan behind $69.3 million owed to other lenders, including an affiliate of Solyndras biggest shareholder, Argonaut Ventures.
Kastner: This kind of stuff is not supposed to happen. The equity interest of the Kaiser family got a preference as to the right of repayment from Solyndra. Kaiser got in front of the line. He got in front of the US Governments $528mm IOU from Solyndra. Kaiser got in front of the interests of the American taxpayer. There had to be some very serious arm-twisting going on in the background to achieve this feat.
The evidence will never see the light of day, imo. the chicago way
Trust me, I want it to be but I'm not sure it will be.
(a) The WH can claim (and already is) that some companies fail but that their decision to invest was the right one.
(b) $535 Mil is chump change to Obama.
(c) A lot of the money went to construction so they did "create" jobs.
The biggest crime here is that the investors skate off with our money, with no accountability.
I don't really feel sorry for the city of Fremont, the suppliers that got stiffed, or even the employees. They all should have known they were dealing with a scam company.
Oh, and why did they need to build a fancy new building anyway? That stretch of I-880 is littered with empty industrial space, including most of the decommissioned GM/Nummi plant right next door. What a freaking scam.
A buddy is across the street at another company watching this go down. He posted about this on another forum I’m on.
The real question is, are they really looking for wrongdoing, or looking to cover up money laundering for Obama?
Solyndra made 0bama look bad.
Heads will roll (not the heads that need to roll though).
The evidence is clear. This is where the stimulus money went, just the tip of the iceberg. And so it begins....
Hey, just forget about it, okay? See how easy that is?
They’re looking for evidence against Obama so it can be burned.
Barry is just redistributing the wealth...from us to his political donors!!!
Ha! What a joke. This assumes that the $1.4 billion loan guarantee is actually a worthwhile investment.
This is what FAIL looks like.
According to White House visitor logs, between March 12, 2009, and April 14, 2011, Solyndra officials and investors made no fewer than 20 trips to the West Wing.
No matter which way this “investigation” goes, this was a very bad thing to happen before the night little lord hussein trots out his newest brilliant idea of how to waste more taxpayer money.
They were just visitin’ Michelle Antoinette & the Boy-King Putt...
Not even going to read it. The fundamentals that made Solyndra unsustainable exist for every other green company, just scale it up or down to fit.
Solyndra raised about $528 million of the $535 million in federal loan guarantees, according to its bankruptcy filing.
The loan attracted attention from Republican lawmakers early on as they questioned whether politics played a role in the company getting funding. One of the company’s investors, George Kaiser of Oklahoma, helped raised money for President Barack Obama’s presidential campaign.
Republican Rep. Cliff Stearns, chairman of a House subcommittee investigating Solyndra, recently called on the White House to release all communications between the White House and Solyndra and its investors. The House Energy and Commerce Committee issued a subpoena in July seeking documents from the White House Office of Management and Budget.
Democrats opposed those efforts, but on Thursday began to change their tact. Rep. Henry Waxman, D-Calif., called on Stearns to invite Solyndra CEO Brian Harrison to a hearing on Sept. 14. Waxman said that Harrison met with committee members less than two months ago and assured lawmakers that the company was in a strong financial position.
“These assurances appear to contrasts starkly with the company’s decision to file for bankruptcy...,” Waxman said.
The people want answers and accountability for the half billion dollars they received. We’re not talking chump change here.
1) Great campaign-ad ammunition against Obama: Solyndragate
2) Worthless campaign ammunition against Obama: his birth certificate.
I just read this same titled article at the wash times.This could be many things.It sounds like the company could have been firing all people but a skeleton crew and filing bankruptcy then taking federal taxpayer stimulus monies for they’re own bank accounts.How could they blow through all of the money.The article states China was the competition but that is a hell of a lot of money to blow through.OR-Obama is getting the docs that prove scandal using our FBI and this case dies like so many others.Either way it is horrific.
“Waxman said that Harrison met with committee members less than two months ago and assured lawmakers that the company was in a strong financial position.
These assurances appear to contrasts starkly with the companys decision to file for bankruptcy..., Waxman said.”
Waxman can spot subtle inconsistancies that would just fly past normal humans.
This will disappear just like KENYAN BORN OBAMA did
Took the words right out of my mouth, nuvista.
A ‘reason’ has to be found as to why Solyndra failed
enough to file bankruptcy, and it obviously ain’t gonna
be anything that redounds negatively onto Obama, or threatens the forward march of his enivisioned Green Utopian Future-—from what I’ve heard , even with all that sweetheart money from the taxpayers, they felt so smothered by regs that they couldn’t function, adding even more irony to the soundness of the Obama Agenda.At ALL costs, any real facts about Solyndra have to be kept under wraps, their CEO has to be demonized as a heartless profiteer that somehow escaped the watchful eye of Obama, who proceeded through all of it with great good faith.Expect to see the same kind of stripping-off-the-medals ceremony like the one Oprah gave James Frey when she found out his book she touted was largely made up.
I can just see Sandy Berger stuffing ersatz “solar panels”
into his underpants.
A woman called in to the Mark Levin show yesterday and said that the first two big orders from Solyndra were from the Federal Govt.
Levin called it a “Potemkin Village”
They had an income of $643 million ($525 million taxpayer guaranteed loans and $118 million gross receipts) and about $235 million in costs. Where did the $400 million go? I’m betting it went to Rat political donors who also invested in this company.
Like all the terrorism and politics stuff that Fitz sat on in Chicago.
And that's not even counting all the golf course rendezvous...