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White House 'Pressure' Got SolyndraA DOE Loan It 'Should Never Have'
FoxNews.com ^ | August 2, 2012

Posted on 08/02/2012 9:52:31 AM PDT by topher

"Political pressure" by a White House eager to tout its stimulus agenda was largely to blame for fast-tracking the ill-fated $535 million Solyndra loan guarantee, according to findings in a massive new congressional report released Thursday morning.

The report, by Republicans on the House Energy and Commerce Committee, caps a nearly yearlong investigation by the panel into why the government allegedly ignored red flags to approve the loan. Solyndra, a solar-panel firm, filed for bankruptcy last year.

"It is clear DOE should never have issued the loan guarantee to Solyndra," the report said, adding that a subsequent decision to restructure the terms "violated the plain language of the law."

(Excerpt) Read more at foxnews.com ...


TOPICS: News/Current Events
KEYWORDS: 2012; corruption; cultureofcorruption; democratcorruption; democrats; envirofascism; fraud; globalwarminhoax; greenfraud; obama; solyndra; thegreenlie; whitehouse
Obama flushing tax dollars down the drain!

Election issue!

1 posted on 08/02/2012 9:52:42 AM PDT by topher
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To: topher

It was only for $535 million, so many the Democrats do not consider to be REAL money. Less than a billion is probably considered CHUMP CHANGE for Democrats...


2 posted on 08/02/2012 9:54:41 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: topher

So many laws broken by this administration and this president but no one will lift a finger.


3 posted on 08/02/2012 9:55:54 AM PDT by frogjerk (OBAMA NOV 2012 = HORSEMEAT)
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To: topher; Admin Moderator
FoxNews.com also has this article listed under the title:

Probe faults 'pressure' to promote stimulus in $535M Solyndra loan approval

Title I am using is from FOXNEWS.com page as lead article.

4 posted on 08/02/2012 9:57:12 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: topher

Well, what’s the point of being President if you can’t flush money down the drain at every opportunity?


5 posted on 08/02/2012 9:58:48 AM PDT by Izzy Dunne (Hello, I'm a TAGLINE virus. Please help me spread by copying me into YOUR tag line.)
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To: frogjerk
Do you mean:

So Many Laws to break; So little time!

Let us hope that the show of support for Chick-Fil-A yesterday was a wakeup call for Americans for this election!

6 posted on 08/02/2012 10:00:15 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: topher

It would be nice if the specific nature of the “pressure” was elaborated on.


7 posted on 08/02/2012 10:01:25 AM PDT by SpaceBar
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To: topher

And the head of Solyndra is a bundler for the Obama campaign. This money laundering operation is working as planned. Too bad it’s taxpayer money.


8 posted on 08/02/2012 10:01:32 AM PDT by txrefugee
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To: topher

We should just impeach any elected DEM President on the first day.


9 posted on 08/02/2012 10:02:30 AM PDT by bmwcyle (Corollary - Electing the same person over and over and expecting a different outcome is insanity)
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


10 posted on 08/02/2012 10:02:30 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: topher

Does it say how much of that $535 million found it’s way back into O’s campaign coffers?

Probably not!


11 posted on 08/02/2012 10:04:17 AM PDT by Bigun ("The most fearsome words in the English language are I'm from the government and I'm here to help!")
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To: SpaceBar

The chairman of the House Energy and Commerce Committee should have your answer. He/She would be a Republican.


12 posted on 08/02/2012 10:04:31 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: topher
adding that a subsequent decision to restructure the terms "violated the plain language of the law."

And the Indictments are coming when exactly?

13 posted on 08/02/2012 10:06:10 AM PDT by Lurker (Violence is rarely the answer. But when it is it is the only answer.)
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To: topher

Ok so no coruption charges were filed. So what was the point of the investigation?

Once again the cowardly GOP folds.


14 posted on 08/02/2012 10:08:17 AM PDT by CapnJack
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To: topher

The reason I bring it up is because that is precisely where the smoking gun would be, yet it is, curiously, the vaguest part of the story.


15 posted on 08/02/2012 10:10:24 AM PDT by SpaceBar
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To: All

16 posted on 08/02/2012 10:10:24 AM PDT by Hotlanta Mike (Resurrect the House Committee on Un-American Activities (HUAC)...before there is no America!)
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To: SpaceBar
Chairman of the Committee is:

Fred Upton (MI), Chairman (Republican)

Fred is from the 6th Congressional District.

6th Congressional District
Upton, Fred R 2183 RHOB (Address in the House -- not sure of abbreviations)
202-225-3761 Energy and Commerce

If your congressman is a member of this committee, you could contact them...

You would have to call his office (Fred Upton's) with your question or another Republican. I doubt if a Democrat would help you on this issue.

17 posted on 08/02/2012 10:11:07 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: SpaceBar
Such loans made by the government would have to follow certain rules to be legal.

The Republicans on this committee on saying that this loan broke the law and should never have been issued.

I do not know what those rules/laws are.

18 posted on 08/02/2012 10:13:31 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: bmwcyle

We should just impeach any elected DEM President on the first day.


Better still is to go out in droves,Chic-fil-a style, and assure they don’t get elected in the first place.
People should’ve known that as soon as Teddy Kennedy put his arm around,then Sen Obama back in 2008, what Obama was all about.
They definitely should have known when he didn’t produce any records from his past.
Obama was a barren fruit tree!


19 posted on 08/02/2012 10:14:48 AM PDT by Leep
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To: SpaceBar
In BLACK AND WHITE, the article says the loan was illegally restructured:

The Report states: "It is clear DOE should never have issued the loan guarantee to Solyndra."

The article says the report states that ... the subsequent decision to restructure the terms of the loan "violated the plain language of the law."

My analogy, is that I make a loan to you for $535 million through the US Government, and then I modify the terms of repayment so that it is a sweetheart deal -- being favorable to you, and making the loan -- essentially -- illegal.

20 posted on 08/02/2012 10:23:43 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: Leep

I hear Republicans say they wish they had Bill Clinton back. Bill was no better than Obama.


21 posted on 08/02/2012 10:27:02 AM PDT by bmwcyle (Corollary - Electing the same person over and over and expecting a different outcome is insanity)
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To: bmwcyle

Bill was no better than Obama.


Ethically or morally sure. However, BJ Clinton could be made to do the right thing. Even if he had to be dragged kicking and screaming.
With Obama they act like they are affraid of him. Because he’s half black?


22 posted on 08/02/2012 10:31:05 AM PDT by Leep
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To: frogjerk
So many laws broken by this administration and this president but no one will lift a finger.

The ruling class elites always protect their own.

23 posted on 08/02/2012 10:32:22 AM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: SpaceBar; All
Michelle Malkin has this article on this:

The loan was restructured so that Executives of the Company had priority over taxpayers on repayment...

Congressional report preview: Solyndra was too green to fail… at least until investors took priority over taxpayers for repayment

That article quotes the following from the Washington Post (excerpt of an excerpt):

The restructuring went forward, but within months Solyndra failed anyway, leaving federal taxpayers on the hook for much of the half-billion-dollar federal loan. Now, a year after the company’s collapse, debate continues over whether the refinancing plan was legal or a wise investment. Last week, Solyndra’s final liquidation plan estimated that the government will recover just $24 million of the $527 million that taxpayers lent to the company.

The Doug Powers/Michelle Malkin article was posted at 11:30am... Very recent news...

24 posted on 08/02/2012 10:32:27 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: Leep

I think that is what folks on the conservative side hope for Romney. That if he is not a true believer at least he can be pressured to do the right thing.
Romney certainly knows how to get fighters behind him or, maybe its the other way round. The fighters are getting behind Romney?


25 posted on 08/02/2012 10:35:46 AM PDT by Leep
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To: topher; All
Michlle Malkin's article (by Doug Powers) is based on this Washington Post article:

Washington Post: White House analyst warned saving Solyndra could cost more than letting it fail

So even the Washington Post is leading the way in criticizing the Administration...

26 posted on 08/02/2012 10:36:21 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: topher
"It is clear DOE should never have issued the loan guarantee to Solyndra," the report said, adding that a subsequent decision to restructure the terms "violated the plain language of the law."

I don't suppose I should hold my breath until the first arrest is made.

27 posted on 08/02/2012 10:40:39 AM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: topher
"It is clear DOE should never have issued the loan guarantee to Solyndra," the report said, adding that a subsequent decision to restructure the terms "violated the plain language of the law."

How do they reconcile that statement with the following?

The report did not level corruption charges at the administration, despite early suggestions by lawmakers that cronyism was at play.

28 posted on 08/02/2012 10:52:15 AM PDT by Homer_J_Simpson ("Every nation has the government that it deserves." - Joseph de Maistre (1753-1821))
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To: bmwcyle

Bill could go a week or two without doing anything stupid.

Obama’s a jackass every single day.


29 posted on 08/02/2012 10:56:17 AM PDT by Psycho_Bunny (OWS = The Great American Snivel War)
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To: topher

Another impeachable offense. Yawn. Wake me up when somebody in Washington besides Huma Abedin grows some balls.


30 posted on 08/02/2012 10:58:55 AM PDT by atc23 (The Confederacy was the single greatest conservative resistance to federal authority ever.u)
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To: Moonman62
I don't suppose I should hold my breath until the first arrest is made.

Sounds to me like the GOP is classifying this as "run-of-the-mill corruption". And, as we all know, "run-of the-mill corruption" is not prosecutible in Washington.

31 posted on 08/02/2012 10:59:23 AM PDT by okie01 (The Mainstream Media: IGNORANCE ON PARADE)
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To: Moonman62
I don't suppose I should hold my breath until the first arrest is made.

Sounds to me like the GOP is classifying this as "run-of-the-mill corruption". And, as we all know, "run-of the-mill corruption" is not prosecutible in Washington.

32 posted on 08/02/2012 10:59:40 AM PDT by okie01 (The Mainstream Media: IGNORANCE ON PARADE)
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To: bmwcyle

Well I heard Bill Clinton swung to the right.


33 posted on 08/02/2012 11:00:13 AM PDT by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: listenhillary

Bill killed friends, gave the Chinese tech items, and raped women. Do all of you have short memories?


34 posted on 08/02/2012 11:03:43 AM PDT by bmwcyle (Corollary - Electing the same person over and over and expecting a different outcome is insanity)
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To: bmwcyle

I didn’t mean swings politically to the right.


35 posted on 08/02/2012 11:06:57 AM PDT by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: topher
Proof that the current renewable energy Production Tax Credit works:

- it requires a project to actually produce energy (not a useless product) to get the $.022/kWh credit
- projects that maximize energy production get financed by market participants (not the government)
- it's the primary driver behind increased efficiencies and lowering the cost of wind energy (as low as $.30/kWh flat for 20 years)

36 posted on 08/02/2012 11:14:02 AM PDT by DTogo (High time to bring back the Sons of Liberty !!)
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To: SpaceBar
The specific problem would be the following (from the Washington Post article):

Republicans have accused the administration of favoring Solyndra because its largest investors were funds linked to Oklahoma billionaire George Kaiser, a fundraiser for the president.

Basically, this guy George Kaiser was a fundraiser for Obama and yet he is also tied to being the largest investor in Solyndra.

And if one restructures a loan so that I loan you money but then make it so that you get first claim on any money if bankruptcy occurs.

Since the Billionaire controlled the campaign funds for Obama and for Solyndra, the money lent to Solyndra could easily have made it into President Obama's hands or into Michelle Obama's hands and be 'legal' -- if you consider this type of loan legal.

Which is precisely why it is referred to as money laundering and illegal loan.

What happened is the following:

1. Billionaire controls Solyndra and is Obama Fund Raiser.

2. Loan is illegally restructured that in case of default, the money goes to Obama's agent the Billionaire, which then could go directly to Obama.

3. Company does default, and the taxpayers get only $24 million. The other $527 million goes to the Billionaire and indirectly to Obama.

4. The FBI did raid the Silicon Valley offices of Solyndra since they considered illegal activity was going on.

I imagine there are some lay terms for this illegal activity. But it is clearly illegal if the president pressures for a loan that directly benefits him (in terms of how the loan is structured).

Maybe Solyndra is Obama's retirement fund...

37 posted on 08/02/2012 11:17:57 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: frogjerk

Wouldn’t Eric Holder have to be the finger lifter? Nuff said.


38 posted on 08/02/2012 11:18:14 AM PDT by CityCenter
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To: topher
"4. The FBI did raid the Silicon Valley offices of Solyndra since they considered illegal activity was going on. "

Where are these records? What is the status of this investigation? Were those even real FBI officers?

39 posted on 08/02/2012 11:42:05 AM PDT by Mr. K ("The spread of evil is the symptom of a vacuum [of good]")
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To: CityCenter
Wouldn’t Eric Holder have to be the finger lifter? Nuff said.

What about Obami basically eviscerating the immigration law passed by executive order, scraping the welfare reform law passed by congress and signed by BJ Clinton and Elena Kagan not recusing herself as required by U.S. Code. Action against all of the above would require Congress to simply do their jobs.

40 posted on 08/02/2012 12:03:44 PM PDT by frogjerk (OBAMA NOV 2012 = HORSEMEAT)
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To: topher
“The green jobs of the future!”

The Future Belongs to Me - sung by Barry and the Hussains.

41 posted on 08/02/2012 12:06:25 PM PDT by mojito
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To: topher

Especially if it doesn’t come from their wallet


42 posted on 08/02/2012 12:37:35 PM PDT by Kaslin (Acronym for OBAMA: One Big Ass Mistake America)
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To: topher
FoxNews.com has posted the report. Link Below:

FoxNews: Energy and Commerce Committee Report on Solyndra

43 posted on 08/02/2012 1:04:28 PM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: Mr. K
Talk of the FBI raid is in the Washington Post article found at reply #26 of this thread.
44 posted on 08/02/2012 1:08:28 PM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
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To: topher
From day one, Solyndra was a "Springtime for Hitler" operation - designed to grab a half billion dollars of taxpayer money handed over gladly by the Obama Administration. As planned, the show bombed, and the principles danced away rich.

All that money was not "lost" - it is exactly where Obama and these crooks want it to be.

And the Republicans tut-tut, while the NY Times tries to think of new "gaffes" they can pin on Romney.

45 posted on 08/02/2012 1:31:52 PM PDT by dead (I've got my eye out for Mullah Omar.)
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To: dead
GREEN SCAM: 80% Of Green Energy Loans Went To Obama Donors - 19 Companies Went Bust

For those who only hear about these failing companies one by one, the following is a list of all the clean energy companies supported by President Obama’s stimulus that are now failing or have filed for bankruptcy. The media hopes you’ve forgotten about all of them except Solyndra, but we haven’t.

Evergreen Solar SpectraWatt Solyndra (received $535 million) Beacon Power (received $43 million) AES’ subsidiary Eastern Energy Nevada Geothermal (received $98.5 million) SunPower (received $1.5 billion) First Solar (received $1.46 billion) Babcock & Brown (an Australian company which received $178 million) Ener1 (subsidiary EnerDel received $118.5 million) Amonix (received 5.9 million) The National Renewable Energy Lab Fisker Automotive Abound Solar (received $400 million) Chevy Volt (taxpayers basically own GM) Solar Trust of America A123 Systems (received $279 million) Willard & Kelsey Solar Group (received $6 million) Johnson Controls (received $299 million) Schneider Electric (received $86 million)

That’s 19 (that we know of so far).

http://www.thegatewaypundit.com/2012/06/green-scam-80-of-green-energy-loans-went-to-obama-donors-19-companies-went-bust-video/

46 posted on 08/02/2012 1:50:24 PM PDT by TurboZamboni (Looting the future to bribe the present)
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To: bmwcyle

I don’t!


47 posted on 08/02/2012 3:02:53 PM PDT by Bigun ("The most fearsome words in the English language are I'm from the government and I'm here to help!")
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To: topher

Obummer’s administration channels JOHN DILLINGER!


48 posted on 08/02/2012 3:57:29 PM PDT by ExCTCitizen (Yes, Obama, I had help with my business. MY CUSTOMERS!!)
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