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...
Too late.
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
Yep.
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.
-PJ
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.
...Yet...
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