HolyCoast: It's the Solyndra, Stupid

Wednesday, September 14, 2011

It's the Solyndra, Stupid

While the media would like us to believe the big news today is Rick Perry's Gardisil decision, a far bigger story is the Obama Administration's decision to launder millions of dollars through green companies run by their campaign supporters.  The biggest of these being Solyndra, the solar energy company which received over $500 million in federal loan guarantees before abruptly closing their doors and firing 1,100 workers.  ABC News has more:
Newly uncovered emails show the White House closely monitored the Energy Department's deliberations over a $535 million government loan to Solyndra, the politically-connected solar energy firm that recently went bankrupt and is now the subject of a criminal investigation.

The company's solar panel factory was heralded as a centerpiece of the president's green energy plan -- billed as a way to jump start a promising new industry. And internal emails uncovered by investigators for the House Energy and Commerce Committee that were shared exclusively with ABC News show the Obama administration was keenly monitoring the progress of the loan, even as analysts were voicing serious concerns about the risk involved. "This deal is NOT ready for prime time," one White House budget analyst wrote in a March 10, 2009 email, nine days before the administration formally announced the loan. . . .

The emails were uncovered by investigators for the House Energy and Commerce Committee, which will hold hearings on the Solyndra loan Wednesday. The Republican-led House has been investigating the Obama administration's green energy loan program for months. That probe took on new urgency two weeks ago, when Solyndra abruptly shut its doors and laid off 1,100 employees. Last week, the FBI raided the factory as part of a joint investigation with the Energy Department's inspector general.
But, never fear Obama fans because he has a plan to deflect this...to George Bush! Of course, the evil Bush make Obama fund this deal!:
As the Congressional hearing on the failed solar energy manufacturer Solyndra gets under way, it's already clear that the Obama administration is prepared to fall back on a tried and tested strategy: blaming Bush.

In prepared testimony released ahead of the hearing before the House Energy and Commerce committee, the director of the Department of Energy's loans office, Jonathan Silver, emphasizes that the program that eventually granted a $535 million loan guarantee to the troubled firm was created during the Bush administration....

But Rep. Cliff Stearns, R-Fla., chairman of the oversight subcommittee that is conducting the Solyndra investigation, said that there's a problem with that version of events. "In reality, on January 9, 2009 -- at the end of the Bush administration -- the DOE Credit Committee voted against offering a conditional commitment to Solyndra, saying that the deal was premature and questioning its underlying financial support," Stearns said in his opening statement. "Only after Obama took control, and the stimulus passed, was the Solyndra deal pushed through."
Bottom line, Bush said no, Obama said yes.

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