Posted on 10/22/2011 5:33:56 PM PDT by opentalk
As part of its bankruptcy proceedings, defunct solar company Solyndra will auction off thousands of items from its California production facility on Nov. 2 and 3. But taxpayers won’t see a dime of the proceeds, due to the Energy Department’s decision to subordinate taxpayers to Solyndra’s private financiers in repayment of their investments.
As I explained in a Friday column in the Washington Examiner, DOE has developed an unprecedented interpretation of the law to allow Solyndra’s private investors to recoup $75 million of their investment before taxpayers are repaid.
Heritage Global Partners, which is conducting the auction, told Scribe that the money raised “will not be anywhere near” $75 million, meaning the proceeds will go entirely towards repaying Solyndra’s private investors
(Excerpt) Read more at blog.heritage.org ...
hunh. apparently cozying up to banks is better business.
“As I explained in a Friday column in the Washington Examiner, DOE has developed an unprecedented interpretation of the law to allow Solyndra’s private investors to recoup $75 million of their investment before taxpayers are repaid.”
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How many crimes does this criminal regime have to commit before someone in the Congress grows a pair, and stands up and says “IMPEACHMENT” -— I don’t care if it would actually pass the Senate or not but as a citizen and taxpayer, I want some PRESSURE PUT ON THIS CONTINUOUS CRIME BEING COMMITTED WITH IMPUNITY!! My representatives email boxes are SMOKING!!!
there should be investigations, trials, and imprisonment for government officials involved in this and the housing crisis.
Oh Yeah, so all the proceeds go to zero's cronies and enablers. Laundering taxpayer money into the coffers of the DNC is legal in Liberal-land.
There should be people (both politicians and investors) going to Leavenworth and facing serious crimes for treason (for starters) and grand larceny from taxpayers.
But they are all in the same club of protecting their own and shafting taxpayers. Until the USA regains integrity and our government back from lobbyists and paid shills who work for the few, we are going to pay until we are broke. This is about unfettered payoffs, greed and lack of patriotism.
The stealing and enriching a few connected people continues in other government schemes.
Let’s see now ...
Federally-guaranteed student loans not dischargable in bankruptcy because that would lead to a loss by taxpayers.
- however -
Federally-guaranteed green-scam loans take second place in line behind the Obamabuddies in allocating bankruptcy assets.
It’s good to be a part of the King’s court.
Too bad the OWS guys don’t go to DC and start screaming about that ... they’d get a lot more sympathy.
Even if they don't get anyone removed they can DESTROY CREDIT RATINGS at will and their targets can be financially ruined for life unless they name names!
This is an under-the-table payoff taking place here, from the Democrat White House to their corrupt supporters! This is highway robbery using the powers of corrupt government officials, all headed and directed by the the White House! The taxpayers be damned!!!!!! Follow the money!
Student Charged With Felony For Streaking During Football Game...
....but no accountability to this massive government corruption, Really seems like Animal Farm.
The law grinds on, exceedingly slow but exceedingly fine.
I think Issa and Grassley are steadily assembling an indictment. Then there are more investigations in the works (I can't recall) that seem to have Potential.
This administration is the most corrupt I have sever seen. These investigations will be very fruitful, because these guys are that dirty.
You missed my point ~ doesn’t matter what the Senate does. The HOUSE CAN RUIN PEOPLE. They should start doing so.
What's the connection? Ubama is no more bound by the rule of law as Qadaffi (however the media is spelling his name today). Friends of Ubama are like friends of the Politburo, they never go hungry, and stay nice and cozy in their villas while the proletariat works in the mines and the fields to support them.
Oldplayer
You can bet that the private investors will be at the auction to buy the equipment for pennies on the dollar and ship it to the “Solyndra” factory that was set up in China. I’m sure some other crony will get the billion dollar facility for next to nothing. Google, maybe? Tesla motors?
Why are they selling assets, I thought this was a Chapter 11? There surely should be creditors higher that these new loan guys.
why is no us attorney suing to rescind the illegal contract that put US taxpayers at the bottom of the list?
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