White House Role In Loan For Failed Solar Co. Probed

Sep 15, 2011 Full story: WPTZ-TV Plattsburgh 19

Federal analysts looking at a proposed loan to a solar energy company in 2009 warned then of possible problems, as well as pressure from the White House to speed up a decision, according to a memorandum released Wednesday by a House committee.

Full Story

“bar0ckalypse N0W”

Since: Mar 10

Huntington, NY

#1 Sep 15, 2011
In the immortal words of joebiteme, this is a big F'n deal.

“i hope we can change this!”

Since: Aug 08

usa

#2 Sep 15, 2011
mjjcpa wrote:
In the immortal words of joebiteme, this is a big F'n deal.
with a bit of luck, it's a "watergate" bigfcking deal!

Since: Aug 11

Location hidden

#3 Sep 15, 2011
Remeber it was the bush regime was the first ones to deal with this company. Not blaming them, simply because it has too easy to pile on, But it's not like the current administration is at 100% fault.

“Operation GTFO Advocate”

Since: Jul 11

Kenyan-Bound Commie Blubber

#4 Sep 15, 2011
"There's not one inch of the Obama administration that isn't rife with corruption." -- Michelle Malkin

“If you believe it, stand by it”

Since: May 07

Location hidden

#5 Sep 15, 2011
Just wonderin'.........
Was this a union plant?
Whose congressional district is this in?
And.....
FOLLOW THE MONEY...SEE WHERE ALL OF IT WOUND UP.
gossamer

Warren, MI

#6 Sep 15, 2011
Hot Karl wrote:
Remeber it was the bush regime was the first ones to deal with this company. Not blaming them, simply because it has too easy to pile on, But it's not like the current administration is at 100% fault.
Bush has it on hold.

Obama got the ball and ran with it. Big bucks for his campaign. I heard someone on Fox News from ABC say this could extend eight in to November 2012.

“Here we go!”

Since: Feb 07

Tampa, FL

#8 Sep 15, 2011
The Bush Administration thought it needed more review. So, did the OMB, if you read the emails. If the review had been given a chance to be done via standard procedures, Solyndra may not have gotten the loan. There's only one person who would tell Rahm Emmanuel to push the OMB like that- The guy he worked for.
Hot Karl wrote:
Remeber it was the bush regime was the first ones to deal with this company. Not blaming them, simply because it has too easy to pile on, But it's not like the current administration is at 100% fault.

Since: Aug 11

Location hidden

#9 Sep 15, 2011
Eron wrote:
The Bush Administration thought it needed more review. So, did the OMB, if you read the emails. If the review had been given a chance to be done via standard procedures, Solyndra may not have gotten the loan. There's only one person who would tell Rahm Emmanuel to push the OMB like that- The guy he worked for.
<quoted text>
Ok, fair enough. I see what your saying. On the flipside I agree the money should have gone to a better cause, the one positive is that it was an investment in an American company. Yes it failed but the money had to go to the people that worked there and (hopefully) they bought their supplies from American companies to help our economy. Like I said, I'm not pinning this one on bush.

“If you believe it, stand by it”

Since: May 07

Location hidden

#11 Sep 15, 2011
And if you want to fix all of this....JUST PASS THE DAMNED BILL!!
Barack Hussein Obama recognizes his failures and has fixed everything with a NEW BILL.
JUST PASS THE DAMNED THING....THEN YOU CAN READ IT!!
Quote from Washington DC...."PASS THE BILL"
Quote from Ohio.........."PASS THE BILL"
Quote from South Carolina..."PASS THE BILL"

SOSDD.....BOHICA
geeeee

Albuquerque, NM

#12 Sep 15, 2011
500+ million, wonder what the kickback to the dem political machine coffers that required ?
Robert

Hollywood, FL

#17 Sep 15, 2011
Hot Karl wrote:
<quoted text>
Ok, fair enough. I see what your saying. On the flipside I agree the money should have gone to a better cause, the one positive is that it was an investment in an American company. Yes it failed but the money had to go to the people that worked there and (hopefully) they bought their supplies from American companies to help our economy. Like I said, I'm not pinning this one on bush.
No it is not an investment that failed, the only failure was a failure of the Obama administration the follow the same precautions that the Bush administration did, the same precautions that Obama overrode to make a loan they should not have been made.

This is the kind of thing that happens when government tries to pick winners instead of the market forces.

I want to know where our money went and the names of the people who need to be punished for forcing a bad loan. I bet the people who ran this company still live in gated mansions with multiple vacation homes.

“If you believe it, stand by it”

Since: May 07

Location hidden

#18 Sep 15, 2011
geeeee wrote:
500+ million, wonder what the kickback to the dem political machine coffers that required ?
And the nail in the coffin for the white house on this was that they changed the rules for repayment of the loan just before the company failed. All of a sudden we the people were pushed back behind investors to get repaid. And one of Obama's croneys was allowed to organize a $75 million bailout loan to the company. They are to get their money before the taxpayer is repaid.
I cannot imagine how a company that is over $500 million in the hole hopes to throw $75 million down the same hole and revive itself. Something stinks in California....and Washington DC.
Paul Revere

Bargersville, IN

#21 Sep 15, 2011
No company especially a startup should get $500,000,000+ dollars. Also everyone knows that solar energy as a main source is a load of bs for a large section of our country due to climate and other weather conditions. On top of that you have a govt. that lets China send in cheaply subsidized competitive products to undercut any US manufacturers.

Since: Aug 11

Location hidden

#22 Sep 15, 2011
Robert wrote:
<quoted text>
No it is not an investment that failed, the only failure was a failure of the Obama administration the follow the same precautions that the Bush administration did, the same precautions that Obama overrode to make a loan they should not have been made.
This is the kind of thing that happens when government tries to pick winners instead of the market forces.
I want to know where our money went and the names of the people who need to be punished for forcing a bad loan. I bet the people who ran this company still live in gated mansions with multiple vacation homes.
I agree with you, there should be punishment, also I agree that precautions should have been taken. But my point is I hope that they spent that money in our borders, on our companies, with our workers and paid taxes to our government that way we still have the money it's just dispersed in places that were not intended but not lost. If there was fraud, lock them up, I'm all for it. We don't want to give up on green energy because of these guys couldn't run a business or some bad apples ripped us off.
Far Away

Anchorage, AK

#23 Sep 15, 2011
Hot Karl wrote:
Remeber it was the bush regime was the first ones to deal with this company. Not blaming them, simply because it has too easy to pile on, But it's not like the current administration is at 100% fault.
Of course it's 100% of the current administration's fault. It might have been in the gin under Bush, but it wasn't picked up, and it sure as Hell wasn't rammed through, such as is Øbama's modus operandi.
Far Away

Anchorage, AK

#24 Sep 15, 2011
seedtick wrote:
<quoted text>
And the nail in the coffin for the white house on this was that they changed the rules for repayment of the loan just before the company failed. All of a sudden we the people were pushed back behind investors to get repaid. And one of Obama's croneys was allowed to organize a $75 million bailout loan to the company. They are to get their money before the taxpayer is repaid.
I cannot imagine how a company that is over $500 million in the hole hopes to throw $75 million down the same hole and revive itself. Something stinks in California....and Washington DC.
... and American citizens put into second place AFTER Øbama knew it was headed for bankruptcy. There had better be some heads to roll on this one.
Far Away

Anchorage, AK

#25 Sep 15, 2011
Unfortunately, everyone is stuck on stupid in the congressional hearings. It'll be another Operation Fast & Furious, where no one is accountable.
liza

Clarksburg, WV

#26 Sep 15, 2011
READ and weep dems.....This went to Bush and he rejected it. When it got to Obama, because its
a GREEN thing, they got half a billion dollars.
Seems like Obama has help in this high price
Failure....Notice those who want to blame Bush,
always worth a try to make the people believe a lie.
Should know by now, its just isn't working anymore.
Obama tried a new tactic today and said, "If you
love me you'll pass this bill"!!! anyone get a laugh out of that one?? I did...
Dumb and dumber, huh?
Fact Checker

Bloomington, IL

#28 Aug 5, 2012
Hot Karl wrote:
Remeber it was the bush regime was the first ones to deal with this company. Not blaming them, simply because it has too easy to pile on, But it's not like the current administration is at 100% fault.
The current Obama administration IS 100% at fault.
Obama referred to Solyndra’s loan at an Oct. 6 press conference as “a loan guarantee program that predates me.” That’s a lie. It’s true that the Energy Policy Act of 2005 created a loan guarantee program for clean-energy companies developing “innovative technologies”(under Bush). But Solyndra’s loan guarantee came under another program created by Obama's 2009 stimulus for companies developing “commercially available technologies.”
Obama also overstated past Republican support for the program, saying “all of them in the past have been supportive of this loan guarantee program.” Republicans overwhelmingly opposed the American Recovery and Reinvestment Act of 2009, and some of them even voted against the Energy Policy Act of 2005 at a time when Republicans controlled both houses of Congress. The House passed the conference bill 275-156, and 31 Republicans opposed it. The Senate passed it 74-26, with six Republicans voting no. Sens. Joe Biden, now Obama’s vice president, and Hillary Rodham Clinton, Obama’s Secretary of State, voted against it, as did many other Democrats. Clinton criticized the bill as too generous to the oil industry and attacked Obama for voting for it.
-FactCheck.org

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