Thursday, September 15, 2011

Emails: Obama White House Monitored Huge Loan to ‘Connected’ Firm

The danger of giving people with low character lots of money to spread around among friends. In the end you find out what trust means.

Show me where in the Constitution it says the President making loans to your big donor buddies is good for America?

And then it goes bust and you just saying "risky business". Did you ever think their is no viable commercial business in solar cell anything? Spain got 20% unemployment for their investments in non-viable green energy. We are proving Spain right about their wasteful boondoggle. Solar energy coasts from 10x to 20x coal generated electricity.

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By MATTHEW MOSK, (@brianross) , and RONNIE GREENE
Sept. 13, 2011
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.

“If you guys think this is a bad idea, I need to unwind the W[est] W[ing] QUICKLY,” wrote Ronald A. Klain, who was chief of staff to Vice President Joe Biden, in another email sent March 7, 2009. The “West Wing” is the portion of the White House complex that holds the offices of the president and his top staffers. Klain declined comment to ABC News.
Beginning in March, ABC News, in partnership with the Center for Public Integrity’s iWatch News, was first to report on simmering questions about the role political influence may have played in Solyndra’s selection as the Obama administration’s first loan guarantee recipient. Federal auditors had flagged the loan, saying some applicants had benefitted from special treatment.

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