Posted on 09/14/2011 6:18:24 PM PDT by tobyhill
The Treasury Department's inspector general has opened a new front in the investigation of the government loan to Solyndra, the now bankrupt company that had been touted as a model of President Obama's ambitious green energy program, ABC News and the Center for Public Integrity/iWatch News have learned.
The new probe involves the $535 million loan, arranged by the Energy Department, but actually processed by the Federal Financing Bank, a government lending institution that falls under Treasury's control. Already, the FBI and the Energy Department's inspector general have executed search warrants at Solyndra's headquarters and questioned company executives.
"We're going to look at everything the FFB had to do with its role in this thing," Rich Delmar, a spokesman for the Treasury Department's inspector general, told ABC News and iWatch News.
Earlier this month, iWatch News and ABC News disclosed that Solyndra received a rock-bottom interest rate of 1 to 2 percent -- lower than those affixed to other Energy Department green energy projects. The low rate was set even as an outside agency, Fitch Rating, scored Solyndra as a B+ -- "speculative" -- investment. Energy Department officials said the bank set the rate, based on formulas including the payout length, and that Solyndra did not receive special treatment.
(Excerpt) Read more at abcnews.go.com ...
Impeach Obama, why haven’t republicans pushed for impeachment? There is a long list of criminal activity that Obama and pals have been a part of. Time to send this traitor to prison for the rest of his life.
The more fed “investigators” they can get in there the easier the cover-up.
B-I-N-G-O
Just posted the “we have been robbed” notice on #AttackWatch.
Has anyone mentioned that Solyndra was going to purchase a defunct GM stamping plant in Ohio....I wonder if government motors also plays into this government venture capitalist scandal?
Barry and Valerie are out back warming up the bus...
This Solyndra deal is one big smelly pile. To distract attention from themselves, the adminstration is going to have to make the corporate officers out as real skunks, eg; throw them well under the bus.
But in the end I don’t see how this works out. First, the admin is getting really, really sloppy as to how it conducts its business. And they were really caught flat-footed this time. Secondly, the tranche of funding the admin supplied was 6-7 times as large as the amounts funded by the original investors. There is no way on the face of the earth that an investor coming in with so much more funding would not insist upon subordinating the earlier amount. After all, the admin did this on GM, right?
This is not impeachable, IMO, but I definitely think this has legs.
Because to do so would be a very bad idea.
What do you think the FBI did with all those boxes of documents they carted away? It's all been shredded. Holder's given the order to destroy any document that ties the company to Zero.
Fer sur, a couple good sized chunks of that is in Swiss bank accounts.
The only question is who’s got the acct numbers?
Did Zero get any new tattoos lately?
How so?
Just imagine if this plant was turning a profit how much credit the zero crew would have taken for facilitating the loan etc. The present denials are ridiculous.
I hadn't thought of that. Has this proven to be the case in the past?
Thanks, now I can expect a visit from the man?
I can’t wait until they find a stash of Gunwalker AK’s in the Solyndra warehouse.
Just my opinion but when you’ve got more people running around digging here and digging there, important things start coming up missing. The DemocRATS call it being “sloppy”. “Sloppy, sloppy, sloppy”. “Sloppy” is their favorite excuse when doing a cover-up.
No, I didn’t mention your name. You are safe.
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.