Skip to comments.Obama Officials Sat In On Solyndra Meetings
Posted on 09/09/2011 7:49:12 AM PDT by sunmars
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.
The company, which closed its doors last week and laid off 1,100 workers, has been a subject of an ongoing series of stories by the Center for Public Integrity's iWatch News in collaboration with ABC News.
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. Republicans in Congress called the investment "a bad bet" and said it "put taxpayers at unnecessary risk."
(Excerpt) Read more at abcnews.go.com ...
It’s also a very easy story for the public to follow..just connect the dots...the Dems were soooo eager to make this happen..for the PR..that they pushed it along rapidly..didn’t conceal their tracks...
Holder and Ubama sent the FBI in to “raid” the place and get control of the evidence.
It’s all washed up or gone by now.
The list, ping
Let me know if you would like to be on or off the ping list
Doesn’t mean all the evidence was sitting there in the Solyndra offices, however. In fact, insofar as investors and board members are concerned, probably little of it was.
That means that someone in the PowerBroker Community has decided to cut Obama loose.
good luck with that........
...ABC has a vested interest - I see that they plug their partnership with the "Center for Public Interest iWatch division". If it takes a Democrat scandal to get this baby off the ground, then so be it - seems to be the thinking at ABC.
Those who have been chosen to take a prison term for this, have copies of data squirreled away.
They ain't doin' time on Obama's crime.
That’s EXACTLY what I was thinking!
At least China is still making the solar panels./s
And thank goodness Gibson doesn’t have the proper wood to make those terrorist guitars. /s squared
Sounds like the old USSR where all companies had to have political officers present to operate.
I believe it was Jonah Goldberg who wrote a few days ago that there is no such thing as crony capital. Well, Jonah, here it is. Supporters of the President, i.e., cronies were handed $535 million from the feds. That is a return on investment that we non-cronies can only dream of.
Solyndra is crony capitalism in all its glory.
Why is it surprising that administration officials sat in on the Board meetings? This IS the world’s first fascist government since Nazi Germany, it only stands to reason that this would happen.
I believe the Left is now going to begin the process of forcing Obama out of his re-election bid.
We’ve seen the media slowly start to turn on him.
The bigwigs in the Party who KNOW about the origins of his birth are going to urge him to resign due to “health concerns” which will be entirely plausible given his history of smoking....
Yep. All shredded by now.
Just following orders you know.
Laz, it is exactly 0bama’s MO to throw some flunkies under the bus. It will be interesting to see how that plays out. Will the flunkies get the “carrot & stick combination” to get them to go quietly, or will the squeal on 0bama’s administration? And if they do squeal, will it get any play in the media?
Even though it might serve ABC’s interests in getting their “public interest” off the ground, they aren’t going to let any dirt get on 0bama or Holder. I think it’s just going to be another installment of left-wing night at the Kabuki theater.
“Solar Gate”...I’m first!
No special prosecutors. Their role is actually to bury corruption by dragging out investigations for years.
Bingo. Why don't more people see this?
And all this media "coverage" is bullshit so then they can report that nothing was found and the administration is squeaky clean.
"And to make sure the money is properly spent, were building on reforms weve already put in place. No more earmarks. No more boondoggles."
Solyndra Filing a Disaster for Obama
In a blow to the Obama administration's efforts to create green jobs, solar-cell maker Solyndra announced Wednesday that it will close its remaining Fremont factory, lay off its 1,100 employees and file for bankruptcy. The bankruptcy represents a high-profile failure for a federal stimulus program that gives loan guarantees to green-tech manufacturers. Solyndra was the first company to win one of the guarantees, receiving $535 million in 2009.
...Yea, on this thread. Bravo...
A ready made Republican campaign commercial! Obama green Initiative Bankrupt!
How about SOLARGATE!
What did the president know and when did he know it?
Did they actually get and spend half a billion? I'm reading elsewhere (including some FR posts) that they did not.
Was Solyndra a union shop? I know its situated in Union city, perhaps that means the entire city is union...
That was the first thought that came to mind when I heard of the raid.
Friday news dump.
Solyndra Board Meeting:
"Gentleman, things are not going well. We have spent all our money on the wrong things, and the Company is headed towards bankruptcy."
Obama Cabinet Meeting:
"Gentleman, things are not going well. We have spent all our money on the wrong things, and the Country is headed towards bankruptcy."
The FBI and Holder are part of the document destruction team to eliminate all links with the Obama administration. It will be years before we learn the facts, if at all.
Wow! From an NBC affiliate:
President Obama faces political catastrophe in the form of Solyndra .....
“President Obama faces political catastrophe in the form of Solyndra.....”
They used to report these types of things about the Great Klinton, and then a couple of paragraphs later they’d tell us where to send cash for his legal defense fund.
I think a joint committee of congress on the scale of Watergate or Iran/Contra should be convened immediately.
It would have been fun to give a republican response last night in front of these offices. It will make a great backdrop for commercials in the next election.
Somewhere in line behind them are we, the taxpayers, who involuntarily helped fund this modern Teapot Dome boondoggle.
I is for Impeach.
All in favor..
The ‘I’s have it.
Kudos to Qbert for finding this little gem. I’ll post for further reference:
OMG! Who in the Energy Dept. thinks they can bypass a bankruptcy judge and screw the taxpayers?
Umm, not really. Solyndra was half a billion. The “jobs bill” (that doesn’t exist except in the mind of potus) is half a trillion. I know its confusing. I get my billions and trillions mixed up too, especially when I balance my checkbook.
Holder should have been forced to step down a couple of years ago after he left black racist go when they were outside the polling booth intimidating voters and then went on to say his people.
Add that to how there is a racist program in place letting blacks go while going after whites.
Add the fast and furious program too this as well.
This admin stinks of corruption and if this was a republican admin the biased media would have ripped them apart by now.
I'm not sure, but I bet they are using consultants from the group that screwed over the Chrysler bond holders.
“Holder and Ubama sent the FBI in to raid the place and get control of the evidence”
Solyndra has been “Solaundered.”
Actually - the coverup is excellent news -
Means there was something there to cover up - beyond their usual incredible incompetence.
Remember - all we need is one “Monica’s Dress”. In a company that just failed and laid off 1,000 - I bet someone has something nice on a thumb drive somewhere.
this is both the most corrupt and most stupid administration in history. When the dam breaks - it will be a flood.
Won’t be enough to brinmg him down on its own, but may work well with Palin’s perfectly positioned campaign.