"ECO-SCAM"
Jobs -- Funded By Taxpayers -- Are Being Sent OVERSEAS! More Crony
Capitalism Exposed, Hurting YOU And Helping Obama's Friends!
YOU READ THAT RIGHT -- ABC News is reporting that the Fisker car company, "an electric car company that received a $529 million federal government loan guarantee, is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work."
WHAT??? They couldn't find ANYWHERE in America where they could build their "green jobs" taxpayer-funded probably-doomed-anyway electric car???
They sent what should be AMERICAN jobs... to FINLAND???
And just HOW did Fisker Automotive GET this sweet half-billion dollar taxpayer loan in the first place? Well, it sure didn't hurt them that they're backed by a "powerhouse venture capital firm" whose partners include... wait for it... former Vice President Al Gore!
WAIT -- it gets WORSE -- it's looking like Fisker, just like Solyndra, could be on track for a HUGE FAILURE... which means YOU AND I will have to cough up that half-billion dollars to cover their losses!!! ABC reports:
YOU READ THAT RIGHT -- ABC News is reporting that the Fisker car company, "an electric car company that received a $529 million federal government loan guarantee, is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work."
WHAT??? They couldn't find ANYWHERE in America where they could build their "green jobs" taxpayer-funded probably-doomed-anyway electric car???
They sent what should be AMERICAN jobs... to FINLAND???
And just HOW did Fisker Automotive GET this sweet half-billion dollar taxpayer loan in the first place? Well, it sure didn't hurt them that they're backed by a "powerhouse venture capital firm" whose partners include... wait for it... former Vice President Al Gore!
WAIT -- it gets WORSE -- it's looking like Fisker, just like Solyndra, could be on track for a HUGE FAILURE... which means YOU AND I will have to cough up that half-billion dollars to cover their losses!!! ABC reports:
"An investigation by
ABC News and the Center for Public Integrity's iWatch News that will air on
"Good Morning America" found that the DOE's bet carries risks for
taxpayers, has raised concern among industry observers and government auditors,
and adds to questions about the way billions of dollars in loans for smart cars
and green energy companies have been awarded. Fisker is more than a year behind
rolling out its $97,000 luxury vehicle bankrolled in part with DOE money. While
more are promised soon, just 40 of its Karma cars (below) have been
manufactured and only two delivered to customers' driveways, including one to
movie star Leonardo DiCaprio."
And another "green" car company -- Tesla Motors, whose prime backers include PayPal mogul Elon Musk and Google co-founders Larry Page and Sergey Brin -- just released SEC filings revealing that the start-up has lost money every quarter. And while its federal funding -- to the tune of another half-billion dollars -- is intended to help it mass produce a new $57,400 Model S sedan, the company has absolutely no experience in a project so vast.
But who cares, right? They're friends of Obama!
It just keeps getting bigger. The Washington Post has dropped a bombshell in their latest exposé on the ever-growing Solyndra "Eco-Scam" -- "An investor in Solyndra who was also an Obama administration adviser pushed the White House in 2009 to support the solar panel maker. His push came as the company was seeking a half-billion-dollar Energy Department loan, documents show."
"David Prend, a
co-founder of the Boston venture capital firm Rockport Capital, met with
Obama's then climate czar, Carol M. Browner, in late February to discuss
clean-energy policies of the administration - and Solyndra's innovative solar
panels were mentioned. He then e-mailed a White House aide to "help get
the word out" about the company's pending partnership with the Obama
administration. Prend's Boston-based venture capital firm held 7.5 percent of
the company's equity."
At
the time he requested White House support, Prend was co-founder of Rockport
Capital, an early investor in Solyndra, starting in 2007. He also chaired a
renewable energy panel that advised Obama's Energy Department on solar
technologies and investments!
AND, Fox News has revealed, ANOTHER inside man on the Solyndra loan was Steve Spinner, "a former NBC executive who became a green energy guru who helped steer energy and environmental policy for the administration starting in the 2008 transition team." Spinner pushed for Solyndra to get the loan -- even though his wife was the lawyer for the now BANKRUPT solar firm!
And had you even heard that the head of the company that started the whole "ECO-SCAM" political scandal -- where big Democrat donors and buddies of Obama received HALF A BILLION DOLLARS in taxpayer-funded government loan guarantees, and then declared bankruptcy so we'd be left holding the bag -- has secretly resigned from his CEO position?
NO -- you hadn't heard that? NEITHER HAD ANYONE ELSE -- at least, until they were forced to reveal it by the Justice Department!
According to a new report by the Daily Caller, since NO ONE trusted Solyndra officials "to be forthcoming with accurate information about the company's finances," a "trustee" had to be brought in "to oversee its bankruptcy process." So, Solyndra had to file papers on response to that... and that is when we learned that Solyndra CEO Brian Harrison had "quietly resigned" LAST FRIDAY!
What we DON'T know is: HOW MUCH OF OUR TAXPAYER MONEY DID HE TAKE WITH HIM???
Obama's scandal that started with the failed Solyndra "green jobs" company is starting to look like a never-ending con game!
Now, it's been revealed that a solar company that's well-connected to Democrat leaders in Congress received a $1.2 billion loan guarantee from the taxpayers... so it could built a new manufacturing plant IN MEXICO to build the solar panels it will install at a photovoltaic ranch that will create a total of just fifteen permanent jobs!
THAT'S $80 MILLION (OF OUR MONEY) PER PERMANENT JOB -- THIS MUST BE STOPPED!
YOU READ THAT RIGHT: According to a report by Human Events, SunPower, "a failing California solar company, buffeted by short sellers and shareholder lawsuits, receive a $1.2 billion federal loan guarantee for a photovoltaic electricity ranch project -- threeweeks after it announced it was building new
manufacturing plant in Mexicali, Mexico, to build the panels for the
project."
How is this possible? How about the fact that SunPower converted an old Richmond, CA, Ford plant to a panel-manufacturing facility -- in the middle of the Congressional district of Rep. George R. Miller III (D-CA), the senior Democrat on the House Education and Workforce Committee and the co-chairman of the Democratic Steering and Policy Committee?
How about the fact that his son, George Miller IV, is a lobbyist for SunPower?
How about the fact that, in the last election, SunPower's Political Action Committee (PAC) donated $4,000 to Sen. Harry Reid (D-NV), $3,000 to Rep. Gabrielle Gifford (D-AZ), $2,900 Sen. Barbara Boxer (D-CA)... and some $500 in "walking around money" to Rep. Miller?
OBAMA AND HIS CRONIES ARE RAKING IN THE DOUGH WHILE TOSSING BILLIONS IN TAXPAYER DOLLARS TO THEIR WELL-CONNECTED FRIENDS!
All of these new revelations are coming out as thousands upon thousands of your faxes keep pouring into every single office on Capitol Hill, and Congress is taking notice -- they are widening their investigation into the Solyndra scandal even more!
According to a report by CNBC, "On Wednesday, the House Energy and Commerce Committee broadened its investigation into the failed solar company Solyndra, sending a letter to the White House counsel's office requesting all West Wing communications regarding the decision to use taxpayer loan guarantees to back up the clean technology firm."
On Wednesday evening the committee clarified to CNBC that it is specifically asking for the Obama regime to turn over any emails on the matter that were sent by the president himself. A White House spokesman said he believes this is the first request by an investigative body for presidential emails.
THIS IS HUGE: The committee's request calls for ALL West Wing documents, including emails, dating all the way back to Barack Hussein Obama's inauguration on January 20, 2009!
This scandal just keeps GROWING. The latest news is that Obama's buddies at the top were planning to give hundreds of millions MORE taxpayer dollars to the company that they KNEW was about to fail! The Washington Post is reporting, "Newly released e-mails show the Obama administration's Energy Department was poised to give Solyndra a second taxpayer loan of $469 million last year, even as the company's financial situation grew increasingly dire.The department was still considering providing the second loan guarantee to the solar-panel manufacturer in April and May 2010, at a time when Solyndra's auditors were already warning that the company was in danger of collapsing."
Now, the first heads are beginning to roll. The head of the Energy Department's embattled loan program, Jonathan Silver, announced Thursday that he was stepping down amid an expanding probe of the agency's $535 million loan to a now-shuttered solar company.
Silver had been criticized by Republicans during a House subcommittee hearing three weeks ago, and White House e-mails released this week showed that officials were anxious about the loan program and whether the agency was properly monitoring it. Now Silver's boss, Energy Secretary Steven Chu, has "accepted responsibility" for the Solyndra decisions.
And it seems like every day... another Obama regime "green energy loan" goes bad.
But these are not just bad "investments" -- they're more political payoff scandals in "ECO-Scam," involving top Democrats like Senator Harry Reid and his cronies!
As we told you earlier, the LATEST Solyndra-style taxpayer ripoff scandal, according to a new report
by the New York Times, involves a "green jobs" company called
"Nevada Geothermal Power," which generates electrical power using
near-surface geothermal heat. After $79 million in loans -- and $66 million
in outright grants -- the company's own auditor has now informed us
that there are "significant doubts" about its ability to continue
operating.
That means even MORE of OUR MONEY that's been stolen from us and given to "FRIENDS OF OBAMA" -- this HAS TO STOP!
Once again, we see "green" companies getting hundreds of millions of taxpayer dollars when it was OBVIOUS that they couldn't succeed -- and once again, we see them getting OUR money because they have political connections to Obama and his cronies in Congress:
AND, Fox News has revealed, ANOTHER inside man on the Solyndra loan was Steve Spinner, "a former NBC executive who became a green energy guru who helped steer energy and environmental policy for the administration starting in the 2008 transition team." Spinner pushed for Solyndra to get the loan -- even though his wife was the lawyer for the now BANKRUPT solar firm!
And had you even heard that the head of the company that started the whole "ECO-SCAM" political scandal -- where big Democrat donors and buddies of Obama received HALF A BILLION DOLLARS in taxpayer-funded government loan guarantees, and then declared bankruptcy so we'd be left holding the bag -- has secretly resigned from his CEO position?
NO -- you hadn't heard that? NEITHER HAD ANYONE ELSE -- at least, until they were forced to reveal it by the Justice
Department! According to a new report by the Daily Caller, since NO ONE trusted Solyndra officials "to be forthcoming with accurate information about the company's finances," a "trustee" had to be brought in "to oversee its bankruptcy process." So, Solyndra had to file papers on response to that... and that is when we learned that Solyndra CEO Brian Harrison had "quietly resigned" LAST FRIDAY!
What we DON'T know is: HOW MUCH OF OUR TAXPAYER MONEY DID HE TAKE WITH HIM???
Obama's scandal that started with the failed Solyndra "green jobs" company is starting to look like a never-ending con game!
Now, it's been revealed that a solar company that's well-connected to Democrat leaders in Congress received a $1.2 billion loan guarantee from the taxpayers... so it could built a new manufacturing plant IN MEXICO to build the solar panels it will install at a photovoltaic ranch that will create a total of just fifteen permanent jobs!
THAT'S $80 MILLION (OF OUR MONEY) PER PERMANENT JOB -- THIS MUST BE STOPPED!
YOU READ THAT RIGHT: According to a report by Human Events, SunPower, "a failing California solar company, buffeted by short sellers and shareholder lawsuits, receive a $1.2 billion federal loan guarantee for a photovoltaic electricity ranch project -- three
weeks after it announced it was building new
manufacturing plant in Mexicali, Mexico, to build the panels for the
project." How is this possible? How about the fact that SunPower converted an old Richmond, CA, Ford plant to a panel-manufacturing facility -- in the middle of the Congressional district of Rep. George R. Miller III (D-CA), the senior Democrat on the House Education and Workforce Committee and the co-chairman of the Democratic Steering and Policy Committee?
How about the fact that his son, George Miller IV, is a lobbyist for SunPower?
How about the fact that, in the last election, SunPower's Political Action Committee (PAC) donated $4,000 to Sen. Harry Reid (D-NV), $3,000 to Rep. Gabrielle Gifford (D-AZ), $2,900 Sen. Barbara Boxer (D-CA)... and some $500 in "walking around money" to Rep. Miller?
OBAMA AND HIS CRONIES ARE RAKING IN THE DOUGH WHILE TOSSING BILLIONS IN TAXPAYER DOLLARS TO THEIR WELL-CONNECTED FRIENDS!
All of these new revelations are coming out as thousands upon thousands of your faxes keep pouring into every single office on Capitol Hill, and Congress is taking notice -- they are widening their investigation into the Solyndra scandal even more!
According to a report by CNBC, "On Wednesday, the House Energy and Commerce Committee broadened its investigation into the failed solar company Solyndra, sending a letter to the White House counsel's office requesting all West Wing communications regarding the decision to use taxpayer loan guarantees to back up the clean technology firm."
On Wednesday evening the committee clarified to CNBC that it is specifically asking for the Obama regime to turn over any emails on the matter that were sent by the president himself. A White House spokesman said he believes this is the first request by an investigative body for presidential emails.
THIS IS HUGE: The committee's request calls for ALL West Wing documents, including emails, dating all the way back to Barack Hussein Obama's inauguration on January 20, 2009!
This scandal just keeps GROWING. The latest news is that Obama's buddies at the top were planning to give hundreds of millions MORE taxpayer dollars to the company that they KNEW was about to fail! The Washington Post is reporting, "Newly released e-mails show the Obama administration's Energy Department was poised to give Solyndra a second taxpayer loan of $469 million last year, even as the company's financial situation grew increasingly dire.The department was still considering providing the second loan guarantee to the solar-panel manufacturer in April and May 2010, at a time when Solyndra's auditors were already warning that the company was in danger of collapsing."
Now, the first heads are beginning to roll. The head of the Energy Department's embattled loan program, Jonathan Silver, announced Thursday that he was stepping down amid an expanding probe of the agency's $535 million loan to a now-shuttered solar company.
Silver had been criticized by Republicans during a House subcommittee hearing three weeks ago, and White House e-mails released this week showed that officials were anxious about the loan program and whether the agency was properly monitoring it. Now Silver's boss, Energy Secretary Steven Chu, has "accepted responsibility" for the Solyndra decisions.
And it seems like every day... another Obama regime "green energy loan" goes bad.
But these are not just bad "investments" -- they're more political payoff scandals in "ECO-Scam," involving top Democrats like Senator Harry Reid and his cronies!
As we told you earlier, the LATEST Solyndra-style taxpayer ripoff scandal, according to a
new report
by the New York Times, involves a "green jobs" company called
"Nevada Geothermal Power," which generates electrical power using
near-surface geothermal heat. After $79 million in loans -- and $66 million
in outright grants -- the company's own auditor has now informed us
that there are "significant doubts" about its ability to continue
operating. That means even MORE of OUR MONEY that's been stolen from us and given to "FRIENDS OF OBAMA" -- this HAS TO STOP!
Once again, we see "green" companies getting hundreds of millions of taxpayer dollars when it was OBVIOUS that they couldn't succeed -- and once again, we see them getting OUR money because they have political connections to Obama and his cronies in Congress:
"Reid has taken the
nascent geothermal industry under his wing, pressuring
the Department of Interior to move more quickly on applications to build clean
energy projects on federally owned land and urging other member of Congress to
expand federal tax incentives to help build geothermal plants, benefits that
Nevada Geothermal has taken advantage of...
...Reid had a chance to see electric generation equipment installed by a company called Ormat Technology, which is a Nevada Geothermal partner. Ormat's lobbyist in Washington, Kai Anderson, and one of the company's top executives, Paul Thomsen, are former aides to Mr. Reid.
Just last month, again with Mr. Reid's support, Ormat secured its own Energy Department loan guarantee, worth $350 million, to help support three other Nevada geothermal projects that are expected to produce 113 megawatts of power."
...Reid had a chance to see electric generation equipment installed by a company called Ormat Technology, which is a Nevada Geothermal partner. Ormat's lobbyist in Washington, Kai Anderson, and one of the company's top executives, Paul Thomsen, are former aides to Mr. Reid.
Just last month, again with Mr. Reid's support, Ormat secured its own Energy Department loan guarantee, worth $350 million, to help support three other Nevada geothermal projects that are expected to produce 113 megawatts of power."
THIS IS AN OUTRAGEOUS SCANDAL -- WHEN WILL THIS MADNESS STOP?
Of course, we already told you the news about who's getting the latest TAXPAYER-FUNDED PAYOFF in the ever-growing ECO-SCAM of Barack Hussein Obama's Crony Capitalism:
HEADLINE: "$737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law!"
You read that right: according to a brand new report from The Weekly Standard, "Despite the growing Solyndra scandal, yesterday the Department of Energy approved $1 billion in new loans to green energy companies -- including a $737 million loan guarantee to a company known as SolarReserve...
On SolarReserve's website is a list of 'investment partners," including the "PCG Clean Energy & Technology Fund (East) LLC." As blogger American Glob quickly discovered, PCG's number two is none other than "Ronald Pelosi, a San Francisco political insider and financial industry polymath who happens to be the brother-in-law of Nancy Pelosi, the Minority Leader of the United States House of Representatives."
THIS IS OUTRAGEOUS! DOES THE OBAMA REGIME KNOW NO SHAME???
BUT WAIT, as they say on those cheesy television commercials: THAT'S NOT ALL! One of SolarReserve's other investment partners is "Argonaut Private Equity," which also invested in the failed Solyndra company. In fact, Argonaut's Managing Director is Steve Mitchell... who also served on the Solyndra Board of Directors!
AND... YES, THERE'S MORE... a new investigation by the Daily Caller has found that in addition to the failed company Solyndra, at least four other solar panel manufacturing companies receiving in excess of $500 million in loan guarantees from the Obama administration employ executives or board members who have donated
large sums of money to Democratic campaigns!
AND... HOLD YOUR HORSES... as the end of the federal government's fiscal year looms on Friday, a NEW series of loans could be finalized amounting to more than NINE TIMES what taxpayers have already lost on the failed company Solyndra!
Companies like First Solar, SolarReserve, SunPower Corporation and Abengoa SA have already, collectively, received BILLIONS OF DOLLARS in loans through Obama administration stimulus programs to build solar power plants in the southwestern United States.
But except for the privately held SolarReserve, EVERY SINGLE ONE OF THEM has seen its stock price hammered at the same time it was lobbying the Obama administration and Congress for billions in loan guarantees!
The American people just lost a half billion dollars -- don't they deserve a DEEP AND THOROUGH INVESTIGATION INTO OBAMA REGIME CORRUPTION before more money is wasted???
It was just last week that we told you about the HALF A BILLION DOLLARS in taxpayer money that Barack Hussein Obama gave to his friends at the now-bankrupt "solar energy" company called Solyndra.
That's right -- HALF A BILLION DOLLARS, part of the Obama regime's "stimulus package," was wasted on his liberal friends... or, to put it more clearly, it has now been FLUSHED DOWN THE TOILET.
But it gets WORSE -- it's starting to become obvious
that the Obama White House RUSHED the loan approval through from the Energy
Department because... wait for it... one of the largest private
investors in the deal, Oklahoma billionaire George Kaiser, was also a prominent fundraiser for Obama's 2008
presidential campaign (and a frequent visitor to the White House!),
and Solyndra's board and investors included some major campaign donors to Democrats and Obama!
The Daily Caller goes on to report just how deep this rabbit hole is going:
Of course, we already told you the news about who's getting the latest TAXPAYER-FUNDED PAYOFF in the ever-growing ECO-SCAM of Barack Hussein Obama's Crony Capitalism:
HEADLINE: "$737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law!"
You read that right: according to a brand new report from The Weekly Standard, "Despite the growing Solyndra scandal, yesterday the Department of Energy approved $1 billion in new loans to green energy companies -- including a $737 million loan guarantee to a company known as SolarReserve...
On SolarReserve's website is a list of 'investment partners," including the "PCG Clean Energy & Technology Fund (East) LLC." As blogger American Glob quickly discovered, PCG's number two is none other than "Ronald Pelosi, a San Francisco political insider and financial industry polymath who happens to be the brother-in-law of Nancy Pelosi, the Minority Leader of the United States House of Representatives."
THIS IS OUTRAGEOUS! DOES THE OBAMA REGIME KNOW NO SHAME???
BUT WAIT, as they say on those cheesy television commercials: THAT'S NOT ALL! One of SolarReserve's other investment partners is "Argonaut Private Equity," which also invested in the failed Solyndra company. In fact, Argonaut's Managing Director is Steve Mitchell... who also served on the Solyndra Board of Directors!
AND... YES, THERE'S MORE... a new investigation by the Daily Caller has found that in addition to the failed company Solyndra, at least four other solar panel manufacturing companies receiving in excess of $500 million in loan guarantees from the Obama administration
employ executives or board members who have donated
large sums of money to Democratic campaigns! AND... HOLD YOUR HORSES... as the end of the federal government's fiscal year looms on Friday, a NEW series of loans could be finalized amounting to more than NINE TIMES what taxpayers have already lost on the failed company Solyndra!
Companies like First Solar, SolarReserve, SunPower Corporation and Abengoa SA have already, collectively, received BILLIONS OF DOLLARS in loans through Obama administration stimulus programs to build solar power plants in the southwestern United States.
But except for the privately held SolarReserve, EVERY SINGLE ONE OF THEM has seen its stock price hammered at the same time it was lobbying the Obama administration and Congress for billions in loan guarantees!
The American people just lost a half billion dollars -- don't they deserve a DEEP AND THOROUGH INVESTIGATION INTO OBAMA REGIME CORRUPTION before more money is wasted???
It was just last week that we told you about the HALF A BILLION DOLLARS in taxpayer money that Barack Hussein Obama gave to his friends at the now-bankrupt "solar energy" company called Solyndra.
That's right -- HALF A BILLION DOLLARS, part of the Obama regime's "stimulus package," was wasted on his liberal friends... or, to put it more clearly, it has now been FLUSHED DOWN THE TOILET.
But it gets WORSE -- it's starting to become obvious
that the Obama White House RUSHED the loan approval through from the Energy
Department because... wait for it... one of the largest private
investors in the deal, Oklahoma billionaire George Kaiser, was also a prominent fundraiser for Obama's 2008
presidential campaign (and a frequent visitor to the White House!),
and Solyndra's board and investors included some major campaign donors to Democrats and Obama!
The Daily Caller goes on to report just how deep this rabbit hole is going:
Additionally, Federal
Election Commission records made available by the Center for Responsive
Politics show that SolarReserve board member James McDermott has contributed
$61,500 to various Democratic campaigns since 2008, including $30,800 to
Obama's presidential election campaign.
McDermott's U.S. Renewable Energy Group has a significant financial stake in SolarReserve, and has drawn scrutiny for its ties with Senate Majority Leader Harry Reid -- and for reportedly driving green jobs to China.
And Lee Bailey, a fellow SolarReserve board member and U.S. Renewables Group investor, has donated $21,850 since 2008 to Democratic candidates including President Obama, Senate Majority Leader Harry Reid, California Sen. Barbara Boxer and then-presidential candidate Hillary Clinton.
McDermott's U.S. Renewable Energy Group has a significant financial stake in SolarReserve, and has drawn scrutiny for its ties with Senate Majority Leader Harry Reid -- and for reportedly driving green jobs to China.
And Lee Bailey, a fellow SolarReserve board member and U.S. Renewables Group investor, has donated $21,850 since 2008 to Democratic candidates including President Obama, Senate Majority Leader Harry Reid, California Sen. Barbara Boxer and then-presidential candidate Hillary Clinton.
And
that's not the only connection: the Daily Caller is even reporting
that there is a connection between Solyndra and Michelle Obama, too!
Their review of the George Kaiser Family Foundation's income tax returns found
that during the same year billionaire investor George Kaiser successfully
secured $535 million in government loan guarantees for the now-failed solar
panel manufacturer Solyndra, his private philanthropy donated to a political
cause close to the hearts of several high-ranking Obama administration
officials:
A $10,000 donation to the
Urban Health Initiative at the University of Chicago Medical Center appears on the group's 2009 tax forms. It was also
in 2009 that Kaiser successfully sought to lock down a loan guarantee for the
green-energy company Solyndra through his two investment vehicles: Argonaut
Ventures and the GKFF Investment Company.
While this donation seems small compared to the far larger numbers involved in the Solyndra scandal, it adds to the pattern of possible connections between the Obama administration and the growing Solyndra scandal.
Several of President Barack Obama's senior inner-circle advisers worked with or for now-first lady Michelle Obama when she held a leadership post at the University of Chicago Medical Center and helped create the Urban Health Initiative program. The Washington Post reported in 2008 that Valerie Jarrett was the medical center's chairwoman, and David Axelrod provided community support-building services.
"One of Barack's best friends, Eric Whitaker, is executive vice president at the center and is now in charge of the Urban Health Initiative," the Post added in the year Obama was elected to the presidency. Whitaker is still in that role today.
While this donation seems small compared to the far larger numbers involved in the Solyndra scandal, it adds to the pattern of possible connections between the Obama administration and the growing Solyndra scandal.
Several of President Barack Obama's senior inner-circle advisers worked with or for now-first lady Michelle Obama when she held a leadership post at the University of Chicago Medical Center and helped create the Urban Health Initiative program. The Washington Post reported in 2008 that Valerie Jarrett was the medical center's chairwoman, and David Axelrod provided community support-building services.
"One of Barack's best friends, Eric Whitaker, is executive vice president at the center and is now in charge of the Urban Health Initiative," the Post added in the year Obama was elected to the presidency. Whitaker is still in that role today.
THIS IS
OUTRAGEOUS... and it just KEEPS GROWING!
According to an article in USA Today, "In March 2010, the accounting firm PricewaterhouseCoopers issued a standard but stern warning about Solyndra, a California solar panel manufacturer: The company wasn't making money and never had, which raised ‘substantial doubt about its ability to continue as a going concern.'"
In fact, their business plan was so obviously bad, that less than two weeks before President George W. Bush left office, on January 9, 2009, the Energy Department's credit committee made a unanimous decision NOT to offer a loan commitment to Solyndra.
Peter Lynch, a New York-based solar energy analyst, told
ABC News that it took only "a cursory glance" through Solyndra's
prospectus to see there was a problem
with their numbers. "It's very difficult to perceive a
company with a model that says, well, I can build something for six dollars and
sell it for three dollars," Lynch said. "Those numbers don't
generally work. You don't want to lose
three dollars for every unit you make."
But Solyndra was run by "Friends Of Obama" and their business was located in Fremont, California (which voted 71 percent for Obama in 2008) -- so the Obama regime made SURE that they got their stimulus loan after all!
IT'S ALL STARTING TO COME OUT. The Washington Post is now reporting that "the Obama White House tried to rush federal reviewers for a decision on a nearly half-billion-dollar loan to the solar-panel manufacturer Solyndra, so Vice President Biden could announce the approval at a September 2009 groundbreaking for the company's factory, newly obtained e-mails show."
The August 2009 e-mails show White House officials repeatedly asking OMB reviewers when they would be able to decide on the federal loan, and noting a looming press event at which they planned to announce the deal. In response, OMB officials expressed concern that they were being rushed to approve the company's project without adequate time to assess the risk to taxpayers.
In fact, in August 2009, e-mail exchanges between Energy Department staff members pointed out that a credit-rating agency predicted that the project would run out of cash in September 2011. Solyndra shut its doors on the final day of August.
$535 BILLION OF TAXPAYER MONEY THROWN AWAY ON A "FRIENDS OF OBAMA" SOLAR COMPANY THAT EVERYONE KNEW WOULD FAIL --
THAT DEMANDS AN INVESTIGATION -- AND POLITICAL HEADS NEED TO ROLL!
Thankfully, even before Rep. Issa began his new investigation that was just announced, there were Members of Congress who had already begun an initial investigation into this matter -- but now that MORE facts are coming out about the connections between the Obama regime and their FRIENDS at Solyndra, MORE MUST BE DONE -- QUICKLY.
The House Energy and Commerce Committee has been investigating Solyndra's dealings with the Energy Department for six months -- even BEFORE they shut down. InJuly, subcommittee members subpoenaed White House
documents related to the guarantee.
House Energy and Commerce Committee Chairman Fred Upton (R-MI) and Rep. Cliff Stearns (R-FL), chairman of that panel's oversight and investigations subcommittee, said that the FBI raid confirmed their belief that the "darling" of Obama's green-jobs program -- which we OBVIOSLY a bad idea -- was a "bad bet" from the beginning. "Solyndra was the hallmark of the President's green jobs program and widely promoted by the administration as a stimulus success story, right up until its bankruptcy and FBI raid," Upton and Stearns said in a statement.
On Aug. 31, while Obama was vacationing on Martha's Vineyard, Solyndra filed for bankruptcy. When Solyndra abruptly shuttered its factory and filed for bankruptcy court protection at the end of August, they left 1,100 people out of work and taxpayers on the hook for half a billion dollars in loans. On Sept. 8, the day of Obama's "American Jobs Act" speech to a joint session of Congress, FBI agents conducted searches of Solyndra's headquarters and the homes of the firm's CEO and founder, in a raid that appears linked to the loan guarantee.
THIS IS WHAT WE GET when the government tries to decide what's "good" economically, instead of letting the free market decide. It's also what we get when a corrupt administration is able to push hundreds of billions of taxpayer dollars out the door to its politically-connected friends, fundraisers, and donors.
As columnist Michael Barone noted, this thing is HUGE. It's "a scandal -- the scandal of the government handing out hundreds of millions of dollars to unproven and speculative businesses. Even the shrewdest venture capitalists lose money on most of their investments. But when they lose, it's their money, not ours."
But even Wall Street loves to "partner" with the government, when it means they can make BIG BUCKS off of the backs of the taxpayers. After all, who was the exclusive financial adviser to Solyndra when it was trying to secure the $535 million loan from Washington? The government-bailed-out investment banking and securities firm, Goldman Sachs. As Reuters columnist James Pethokoukis notes, "had the cap-and-trade scheme been enacted, big banks stood ready to reap billions from the trading of carbon emission credits."
And, as Barone went on to note, "the real scandal is the "green jobs" loan guarantee program itself." IT'S A SOCIALIST CON GAME, and the scandal is still going on. The Energy Department has been busy beavers, handing out even MORE loan guarantees JUST LIKE TO SOLYNDRA in the past few weeks -- $150 MILLION in taxpayer money to "1366 Technologies" (of Lexington, Massachusetts, which voted 73 percent for Obama in 2008)... $275 MILLION in taxpayer money to "Solar City" (of San Mateo, California, which voted 72 percent for Obama in 2008)...
Which one of them will be the next Solyndra?
According to an article in USA Today, "In March 2010, the accounting firm PricewaterhouseCoopers issued a standard but stern warning about Solyndra, a California solar panel manufacturer: The company wasn't making money and never had, which raised ‘substantial doubt about its ability to continue as a going concern.'"
In fact, their business plan was so obviously bad, that less than two weeks before President George W. Bush left office, on January 9, 2009, the Energy Department's credit committee made a unanimous decision NOT to offer a loan commitment to Solyndra.
Peter Lynch, a New York-based solar energy analyst, told
ABC News that it took only "a cursory glance" through Solyndra's
prospectus to see there was a problem
with their numbers. "It's very difficult to perceive a
company with a model that says, well, I can build something for six dollars and
sell it for three dollars," Lynch said. "Those numbers don't
generally work. You don't want to lose
three dollars for every unit you make." But Solyndra was run by "Friends Of Obama" and their business was located in Fremont, California (which voted 71 percent for Obama in 2008) -- so the Obama regime made SURE that they got their stimulus loan after all!
IT'S ALL STARTING TO COME OUT. The Washington Post is now reporting that "the Obama White House tried to rush federal reviewers for a decision on a nearly half-billion-dollar loan to the solar-panel manufacturer Solyndra, so Vice President Biden could announce the approval at a September 2009 groundbreaking for the company's factory, newly obtained e-mails show."
The August 2009 e-mails show White House officials repeatedly asking OMB reviewers when they would be able to decide on the federal loan, and noting a looming press event at which they planned to announce the deal. In response, OMB officials expressed concern that they were being rushed to approve the company's project without adequate time to assess the risk to taxpayers.
In fact, in August 2009, e-mail exchanges between Energy Department staff members pointed out that a credit-rating agency predicted that the project would run out of cash in September 2011. Solyndra shut its doors on the final day of August.
$535 BILLION OF TAXPAYER MONEY THROWN AWAY ON A "FRIENDS OF OBAMA" SOLAR COMPANY THAT EVERYONE KNEW WOULD FAIL --
THAT DEMANDS AN INVESTIGATION -- AND POLITICAL HEADS NEED TO ROLL!
Thankfully, even before Rep. Issa began his new investigation that was just announced, there were Members of Congress who had already begun an initial investigation into this matter -- but now that MORE facts are coming out about the connections between the Obama regime and their FRIENDS at Solyndra, MORE MUST BE DONE -- QUICKLY.
The House Energy and Commerce Committee has been investigating Solyndra's dealings with the Energy Department for six months -- even BEFORE they shut down. In
July, subcommittee members subpoenaed White House
documents related to the guarantee. House Energy and Commerce Committee Chairman Fred Upton (R-MI) and Rep. Cliff Stearns (R-FL), chairman of that panel's oversight and investigations subcommittee, said that the FBI raid confirmed their belief that the "darling" of Obama's green-jobs program -- which we OBVIOSLY a bad idea -- was a "bad bet" from the beginning. "Solyndra was the hallmark of the President's green jobs program and widely promoted by the administration as a stimulus success story, right up until its bankruptcy and FBI raid," Upton and Stearns said in a statement.
On Aug. 31, while Obama was vacationing on Martha's Vineyard, Solyndra filed for bankruptcy. When Solyndra abruptly shuttered its factory and filed for bankruptcy court protection at the end of August, they left 1,100 people out of work and taxpayers on the hook for half a billion dollars in loans. On Sept. 8, the day of Obama's "American Jobs Act" speech to a joint session of Congress, FBI agents conducted searches of Solyndra's headquarters and the homes of the firm's CEO and founder, in a raid that appears linked to the loan guarantee.
THIS IS WHAT WE GET when the government tries to decide what's "good" economically, instead of letting the free market decide. It's also what we get when a corrupt administration is able to push hundreds of billions of taxpayer dollars out the door to its politically-connected friends, fundraisers, and donors.
As columnist Michael Barone noted, this thing is HUGE. It's "a scandal -- the scandal of the government handing out hundreds of millions of dollars to unproven and speculative businesses. Even the shrewdest venture capitalists lose money on most of their investments. But when they lose, it's their money, not ours."
But even Wall Street loves to "partner" with the government, when it means they can make BIG BUCKS off of the backs of the taxpayers. After all, who was the exclusive financial adviser to Solyndra when it was trying to secure the $535 million loan from Washington? The government-bailed-out investment banking and securities firm, Goldman Sachs. As Reuters columnist James Pethokoukis notes, "had the cap-and-trade scheme been enacted, big banks stood ready to reap billions from the trading of carbon emission credits."
And, as Barone went on to note, "the real scandal is the "green jobs" loan guarantee program itself." IT'S A SOCIALIST CON GAME, and the scandal is still going on. The Energy Department has been busy beavers, handing out even MORE loan guarantees JUST LIKE TO SOLYNDRA in the past few weeks -- $150 MILLION in taxpayer money to "1366 Technologies" (of Lexington, Massachusetts, which voted 73 percent for Obama in 2008)... $275 MILLION in taxpayer money to "Solar City" (of San Mateo, California, which voted 72 percent for Obama in 2008)...
Which one of them will be the next Solyndra?
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