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 ...
I hear Republicans say they wish they had Bill Clinton back. Bill was no better than Obama.
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?
The ruling class elites always protect their own.
The loan was restructured so that Executives of the Company had priority over taxpayers on 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...
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?
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...
I don't suppose I should hold my breath until the first arrest is made.
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.
Bill could go a week or two without doing anything stupid.
Obama’s a jackass every single day.
Another impeachable offense. Yawn. Wake me up when somebody in Washington besides Huma Abedin grows some balls.
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.
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.
Well I heard Bill Clinton swung to the right.
Bill killed friends, gave the Chinese tech items, and raped women. Do all of you have short memories?
I didn’t mean swings politically to the right.
- 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)
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...
Wouldn’t Eric Holder have to be the finger lifter? Nuff said.
Where are these records? What is the status of this investigation? Were those even real FBI officers?
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.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.