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The Investigative report on Solyndra

While the media is busy covering Harry Reid’s outlandish (bull$h*t) claims about Mitt Romney’s tax returns, President Obama hob-knobbing with the Hollywood libs in Connecticut, and V.P. Biden making racial implications about wall street chains, certain stories, important stories, are being swept under rug by the major media outlets. Occasionally one slips out with little fanfare.

A story recently broke from ABC news (go figure that one) about how far up the ladder the warnings about Solyndra really went. It spells out how deep the Obama Administration was involved in this ‘joke-of-a-loan’ even while possessing full knowledge of the inevitable failure of Solyndra.

In the article by Jonathan Karl it was reported:

“Buried in the treasure trove of White House emails related to Solyndra released Thursday by the House Energy and Commerce Committee is one suggesting that concerns about Solyndra’s viability were shared all the way up to then-White House Chief of Staff Bill Daley a full six months before the company went bust.”

Of course we should all remember that the former White House Chief of Staff Rohm Emanuel was on duty during the time of the Solyndra loan approval. One would wonder-did he get his cut and scurry on off to Chicago before the proverbial ‘crap-hitting-the-fan’ Solyndra failure?

Some concerns highlighted in my previous article about Solyndra have now been confirmed in a recent report The Solyndra Failure published August 2, 2012.

Namely (but not all inclusive):

1. The White House scheduled the Solyndra closing event, which featured an appearance by DOE Secretary Chu and remarks delivered via satellite by Vice President Biden, before OMB even began its review of the loan guarantee. OMB’s review was therefore rushed, taking only nine days when OMB usually took an average of 28 days to review the credit subsidy costs of loan guarantees. 

2. In an attempt to keep its business afloat, Solyndra engaged in extensive efforts, aided by its investors and lobbyists, to seek further Federal funding and government contracts in 2010, including from the Department of Defense (DoD) and the General Services Administration (GSA). DOE officials supported these attempts to help Solyndra win further government support. 

3. The White House led the discussions about a second Solyndra restructuring in August 2011, just prior to Solyndra’s bankruptcy. In another desperate bid to keep the company afloat, the Administration considered a plan that would have subordinated the taxpayers’ interest in the loan guarantee for a second time.

4. Individuals connected to the George Kaiser Family Foundation (GKFF) — whose primary investment arm, Argonaut, was Solyndra’s largest shareholder —played important roles in a series of critical discussions and negotiations with DOE…… In addition, the White House Chief of Staff’s office and others in the White House were aware that Mr. Kaiser, a bundler for President Obama’s 2008 campaign, was the primary investor in Solyndra.

George Kaiser, Obama supporter and fundraiser, gets repaid for his devotion to Obama and investment in Solyndra by none other than the taxpayers, namely you and I. This is the kind of crony capitalism this administration is constantly engaged in. Which begs the question; why in the hell is this not front page news by every media outlet?

Here is an official government investigation which clearly states the direct involvement of the Obama administration in the Solyndra debacle from start to finish. And some of the details in the deal (that were kept from the public) reveal additional loan guarantees of some $1.4 Billion for solar panel installation to a company called Prologis which would be the installer for the panels manufactured by Solyndra.

Ironically Prologis is the poster child on the DOE’s loan application page. Hey, maybe I could get a loan for a soon-to-fail green energy company. Oh wait… I can’t. I don’t qualify; I’m not an Obama financial supporter.

The report also indicated the Obama Administration was ready to give Solyndra yet another influx of money to keep it going in the hopes of avoiding the public embarrassment. Luckily the failure came before more of our money vaporized.

And these same officials, who cannot truthfully manage a $500 million loan, are the people we want making Billion and Trillion dollar decisions for us? Are these the types of leaders we want running a national Healthcare program?

How can they (anyone in the Obama Administration) keep a straight face when they speak to us knowing they are selling us out for political paybacks and payoffs and get away with it?

Sadly it’s simple, 106 million Americans (not counting Social Security) are receiving some kind of government assistance and they are all too willing to turn a blind eye to the facts and a deaf ear to the truth.

 

 

 

 

 

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