Posted on 09/16/2011 10:15:49 PM PDT by NormsRevenge
The White House faced mounting political complications as a second top fundraiser for President Obama was linked to a federal loan guarantee program that backed a now-bankrupt Silicon Valley solar energy company, and as two California lawmakers called for investigations of a state tax break granted to the firm.
Steve Spinner, who helped monitor the Energy Department's issuance of $25 billion in government loan guarantees to renewable energy projects, was one of Obama's top fundraisers in 2008 and is raising money for the president's 2012 reelection campaign.
Spinner .. was recused from the decision to grant a $535-million loan guarantee to Solyndra Inc. because his wife's law firm represented the company, administration officials said Friday.
But Spinner's role as a top official in the Energy Department program, which had not been previously revealed, is likely to spur new inquiries into whether political influence played a role in the handling of the "green" energy fund. ..
"This will fuel more questions, and now you've got real people involved at the inspector-general level who will be turning over chairs and cabinets, asking questions," said Stanley Brand, a criminal defense and ethics lawyer in Washington ..
...
Some Republicans in Congress charge that the White House pushed to get the loan approved for political reasons, which the White House denies.
Before its collapse, Solyndra was a showcase of the White House initiative to develop clean-energy alternatives. Obama visited the factory in May and praised Solyndra as a green technology company that would create jobs and help lead the country's economic recovery.
The company filed for Chapter 11 bankruptcy protection Sept. 6. ..
(Excerpt) Read more at latimes.com ...
adding some spin (or is it Spinner?) to the mix of the ongoing saga of SolarGate
Isn’t it great Obama loans his donors our tax dollars and then they give it back to him as donations.Ain’t American great.NOT
Obama loans his donors our tax dollars and then they give it back to him as donations.
Talk about Stimulating, eh? Indeed. :-]
He recused himself from the Solyndra deal, but what about the rest of this $25 billion in graft? This whole thing stinks to high heaven.
And it needs to be well funded, because they've got a lot of work ahead of them.
The company filed for Chapter 11 bankruptcy
The rich get richer in Obamaland.
I expect very little to come of this.
Whoever let slip yesterday that the Bush Administration killed the loan request, did the country a major disservice. He/she should have sat on that tasty morsel, allowing the MSM to think “Bush’s fault” and blow the scandal up to Watergate proportions, and only then reveal that, Oops, *not* Bush’s fault after all.
monitor the Energy Department’s issuance of $25 billion in government loan guarantees to renewable energy projects
The numbers seem to be changing a lot...another article said less than half of the 38 B$ had been loaned out, and now we are up to 25/38 B$ gone...yet the jobs created seem to still be stuck at 3,500.<<<<
Do you really think that anyone truly knows where all of our taxes go? Seriously. No one can account for it. Least of all the CBO.
How much of this 450 Billion dollar “stimulus” will be laundered for Obama’s 2012 campaign?
The local media here is the SF Bay Area said the amount of money came out to over $600,000 per employee.
There needs to be a full accounting of were every penny went.
They probably had more books than a library.
F’ckn Chicago thug.
If I wrote what I really want to say, the SS would be paying me a visit and very soon.
At LEAST ONE BILLION! They have already said they will raise that much!!
The question I have is which of the “powers that be” has decided to cut Obama loose............
Otherwise we wouldn’t be finding out about all this.
You can’t spend $4 trillion of borrowed money without having any effect on the economy unless some of it is going into your cronies pockets. I predict there are a lot more of these Solyndras out there. Some ambitious reporter needs to find them.
Bfl.
If this was Haliburton, Obama would be impeached.
Powder..patch..ball FIRE!
Some peoples are going to go to jail for this one. I’m guessing that this is what will take O down (simple crime not anything racist, socialist or you know birther).
Biden will assume presidency, Hillary will be vice-pres.
Biden will pull a Johnson and Hillary will be the candidate.
Seems Spinner, the guy now at the center of this fiasco, founded a sports wellness center...seems logical he would be a high official in the Energy Department I guess.
This is a simple pay to play scandal of epic financial proportions.
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