Half-billion-dollar loan to the solar-panel maker Solyndra–burned
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 Silicon Valley company, a centerpiece in President Obama’s initiative to develop clean energy technologies, had been tentatively approved for the loan by the Energy Department but was awaiting a final financial review by the Office of Management and Budget.
The August 2009 e-mails, released to The Washington Post, 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, according to information provided by Republican congressional investigators.
Solyndra collapsed two weeks ago, leaving taxpayers liable for the $535 million loan.
And it’s your money. This was the green deal gone bad and now we have to foot the bill. Is it a sort of pay for play up there. I mean what’s going on up there as Jack used to say. LOL Obama should know better but I bet the lobby got the better of him and that greedy Kaiser must have pushed hard for this loan nearly half a billion dollars gone and the jobs gone too. Reports have it that the product production and price were as high as eagle shit. That is just out of reach for a lot of people. Besides this market has moved on to painted on solar panels. I mean this technology is changing and getting cheaper in some cases not more expensive. They really should have seen this shit coming. Shame on you Obama and you can rat me out for saying it.