Tag Archives: Solyndra

Democrats Attempt to Limit Solyndra Investigation

As per usual, desperately trying to protect their corrupt, fellow Democrats – from the New York Times:

Democrats would back a GOP subpoena to compel testimony from executives at government-backed solar firm Solyndra who plan to invoke their Fifth Amendment rights at a hotly anticipated oversight hearing tomorrow, according to the party’s senior member on the House Energy and Commerce Committee…

Sounds good, right?  First paragraph of the MSM story…good, old Democrats are willing to join the GOP in going after the Solyndra execs.  Just great!  Except for one thing – the Solyndra execs represent only one half of the corruption…the other half is Obama Administration officials.  So, how do the Democrats view that?  Some paragraphs down in the story, we’re told:

…Waxman drew a bright line between a potential subpoena of the company and a July edict that Republicans issued to the Office of Management and Budget for emails related to its review of the Solyndra loan guarantee — a party-line subpoena that the Californian then lambasted as “an abuse” and “a fishing expedition”…

So, it is “abuse” to ask Administration Officials about how Administration officials decided to procure a loan benefiting a donor to the President’s political campaigns.  Yeah, right.  What this really amounts to is a Democrat attempt to limit the investigation…ok to hang the Solyndra execs out to dry, but don’t dare go after the Administration.  And if you do, its an abuse…some sick bit of Teabagger, bitter-clinger political nastiness when we’re all supposed to be engaging in a new tone.  How dare you!

We must not let Democrats have any say in the House investigation.  We have learned that allowing Democrats to participate in any investigation only results in Democrats covering up for other Democrats.  Democrats have proven they are not interested in the truth…only interested in limiting the amount of damage to themselves and, if possible, shoving the blame for their own failures on to the GOP.  This investigation is vital and it must find the truth…and so the only Democrat input should be under oath, on camera, and in front of the investigating committee.

Solnydra Exec’s to Take the 5th

And I don’t mean a nice bottle of Scotch – from Reuters:

Solyndra LLC’s chief executive and chief financial officer will invoke their Fifth Amendment rights and decline to answer any questions put to them at a Congressional hearing on Friday, according to letters from their attorneys obtained by Reuters.

In the letters sent to the House Energy and Commerce Committee’s Subcommittee on Oversight and Investigations, attorneys for Solyndra CEO Brian Harrison and CFO W. G. Stover said they advised their clients not to provide testimony during the hearings.

The bankrupt company’s $535 million federal loan guarantee is being investigated by the House Energy and Commerce Committee…

Which means, of course, that someone broke the law somewhere along the line…if you are honest as the day is long and have nothing to be ashamed of (or are of sufficient moral courage to admit to error, regardless of consequences), then you don’t take the 5th.  I know it is one of our bedrock rights…there is nothing wrong with refusing to answer as it might incriminate yourself.  But if you don’t answer, it means there is something incriminating going on.  Period.  End of story.

Likely they are keeping their mouths shut as their lawyers try to figure out whether any of them can get jail time for what happened…and their lawyers will likely demand some sort of immunity grant before they openly testify.  We can’t give it to them…they might take it and then just lie about what they know.  And we need to know what happened – only the threat of jail time will really get them to talk.  And if the genuinely turn State’s evidence, then we can consider being lenient…but nothing until we know for sure whatever they end up saying is completely factual.

What we need to know is just how the loan was made – who asked whom and why was it approved.  If there is criminal liability, then we need to ensure that everyone who made the decision sees the inside of a jail…and ultimately we need to know what the President knew, and when he knew it.  Maybe Obama is completely clear of this and it was rogue subordinates…but only a full investigation with complete White House cooperation can show that.

 

Lightsquared Scandal: More Attempts to Influence Testimony

From the Daily Beast:

LightSquared, a wireless network backed by billionaire Democratic donor Philip Falcone, could beam broadband Internet everywhere—but some military officials fear it could interfere with critical GPS signals. Now, as The Daily Beast’s Eli Lake exclusively reports, two U.S. officials allege the White House tried to influence their testimony to rush key testing, to LightSquare’s benefit..

…On Monday, a second witness, Anthony Russo, director of the National Coordination Office for Space-Based Positioning, Navigation, and Timing, told The Daily Beast that he too was asked by the OMB to insert the 90-day timeframe into his testimony before the House Science Committee, but he refused. The hearing originally was scheduled for Aug. 3, then rescheduled for Sept. 8.

“They gave that to me and presumably the other witnesses,” he said. “There is one sentence I disagreed with, which said that I thought the testing could be resolved in 90 days. So I took it out.”…

Are you grasping all that, liberals?  In service of a billionaire who is a Democrat and a donor to the party, the Obama Administration tried to smooth things along even though the US military and other agencies had grave questions about the risks of the new wireless project.  Do you begin to understand?  Does it start to dawn on you that all your liberalism is merely a cover for the Ruling Class to gain power and wealth?  They’ll throw  you a bone of “gay rights” or affirmative action, but the real program is just power and wealth…

I doubt you’ll get it.  For ages you have been propagandized that it is we Republicans who do that…and, to be sure, you can find the odd Republican here and there willing to sell out to corporate interests.  But not like this – not in a systemic fashion where everything is for sale.  And the base of the GOP is firmly against this “crony capitalism” and wishes for a restored, genuine free market in which well-connected corporate bosses aren’t able to suppress competitors and gain government privileges.

More and more it looks as though the Obama Administration – in pure, Chicago-style politics – as put a “for sale” sign on the United States.  While Pelosi and Reid ran Congress, there was no oversight at all…and that is why it is only now, 8 months after the GOP took the House, that it is all coming to light.  We all expected Obama’s liberalism and we feared the Chicago Way…but even I didn’t suspect that Obama and his cohorts would be so crude and grasping in these matters…that they would act no better than a Chicago ward boss.

Now more than ever it is vital that Obama be defeated next year…this is already bad enough, but imagine what it will be like if Obama is re-elected and never has to fear the voters again?  It will become a corrupt free-for-all and our national inheritance will go to the highest bidder.

UPDATE:  Rep. Issa to hold hearings on these screwball loans and the general Obama Administration practice of trying to pick free market winners.

Solyndra Scandal Update

From the Atlanta Journal Constitution:

The Obama administration restructured a half-billion dollar federal loan to a troubled solar energy company in such a way that private investors — including a fundraiser for President Barack Obama — moved ahead of taxpayers for repayment in case of a default, government records show.

Administration officials defended the loan restructuring, saying that without an infusion of cash earlier this year, solar panel maker Solyndra Inc. would likely have faced immediate bankruptcy, putting more than 1,000 people out of work…

Which is a rather stupid defense – because now we’ve got the 1,000 people out of work, plus an additional half billion dollar burden on the American taxpayer.  When you start making stupid defenses of your actions, it means you know you’ve really screwed up and are just hoping that it doesn’t entirely blow up in your face.

This scandal, though, is starting to show signs of getting legs – legs which will keep it walking through American politics for quite a while.  And legs which just might lead us to ever more scandals just like this.  It is clear from Solyndra that at least some in the Obama Administration were happy to make deals which were bad for the taxpayers and good for Obama donors…the only thing we don’t know is the “Watergate” question:  what did the President know, and when did he know it?

In a lot of ways, Obama had better hope he loses next year – the rising tide of scandal bodes ill for an Obama second term, and after the 2012 elections, even if Obama does win, he is likely to be faced with a Congress entirely controlled by the GOP…no friendly Reid holding back the Senate half of government oversight.  A re-elected Obama might be forced to do nothing but defend himself against scandal after scandal flowing out of his complete control of government 2009-11.

UPDATE:  More information emerging in the “LightSquared” scandal – seems that President Obama was an early investor in the company.  To remind, there is evidence that Administration officials pressed an Air Force general to change his testimony to be more favorable to LightSquared.  This is getting to be the sort of run-of-the-mill corruption we see out of Chicago…has Obama really been playing that particular game while in DC?  Only an investigation will settle the matter…

Did the Administration Pressure a General to Change Testimony?

From the Daily Beast:

…The four-star Air Force general who oversees U.S. Space Command walked into a highly secured room on Capitol Hill a week ago to give a classified briefing to lawmakers and staff, and dropped a surprise. Pressed by members, Gen. William Shelton said the White House tried to pressure him to change his testimony to make it more favorable to a company tied to a large Democratic donor.

The episode—confirmed by The Daily Beast in interviews with administration officials and the chairman of a congressional oversight committee—is the latest in a string of incidents that have given Republicans sudden fodder for questions about whether the Obama administration is politically interfering in routine government matters that affect donors or fundraisers. Already, the FBI and a House committee are investigating a federal loan guarantee to a now failed solar firm called Solyndra that is tied to a large Obama fundraiser…

There are two questions we need to have answered, over all:

1.  Has government policy been for sale?  Did the Administration set things up so that their donors and cronies would get the government swag regardless of the needs of the nation?

2.  If so, then what did the President know, and when did he know it?

Yes that second question is the “Watergate/impeachment” question.  And we need both questions answered.  We already see in the preliminary stages of the growing Solyndra scandal that Obama’s people would ensure that donors got special treatment…now we need to know, further, if outright lies were sought or presented by the Administration to ensure their cronies got government largesse.  Once we find that out, we then need to know if President Obama was aware of it, and when he became aware.  The answers to these questions will tell us if we’ve just got some rather routine government back scratching, or if we’ve got a government which has put the United States up for sale to the highest donor.

Solyndra II?

Not satisfied with having thrown hundreds of millions away on Solyndra, the Obama Administration is now going to throw billions – from a Department of Energy press release:

U.S. Energy Secretary Steven Chu today announced the Energy Department finalized a $1.2 billion loan guarantee to Mojave Solar LLC for the development of the Mojave Solar Project (MSP).  When complete, the 250MW solar generation project located in San Bernardino County, California will increase the nation’s currently installed concentrating solar power (CSP) capacity by approximately 50 percent.  Abengoa Solar Inc., the project sponsor, estimates it will fund more than 900 construction and permanent operations jobs…

Sounds great, huh?  But we’ve heard this before from DoE:

Vice President Joe Biden, appearing via satellite from Washington D.C., today announced the Department of Energy has finalized a $535 million loan guarantee for Solyndra, Inc., which manufactures innovative cylindrical solar photovoltaic panels that provide clean, renewable energy. The funding will finance construction of the first phase of the company’s new manufacturing facility. Annual production of solar panels from the first phase is expected to provide energy equivalent to powering 24,000 homes a year or over half a million homes over the project’s lifetime.  Solyndra estimates the new plant will initially create 3,000 construction jobs, and lead to as many as 1,000 jobs once the facility opens.  Hundreds more will install Solyndra’s solar panels on rooftops around the country…

Will the new loan guarantee prove better than the last, or is this good money after bad?  Also, did the people running Mojave Solar LLC donate to President Obama?  Other Democrats?  How often have they been to visit the White House?  Is this a hard-nosed, business decision or just another political pay off?

HAT TIPZero Hedge

White House Pressured OMB on Solyndra Loan

From the Washington Post:

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…

Hey, gotta rush it through – Biden needed a photo-op and Obama donors didn’t want to wait around for a payoff on their investment!  I mean, my goodness, its not like it was real money – it was taxpayer money!  You can do anything you want with that!  As long, that is, it goes to line the pockets of liberal crony-capitalists…

Investigate all loans by the US government to all entities – for profit or not for profit; any time the US government guaranteed a loan, we need to find out just how and why it was done.  Who got paid?  Once we know that, we’ll be able to really unravel the corruption.

Solyndra Raided by the FBI

Interesting – from NBC Bay Area:

FBI agents armed with search warrants descended Thursday morning on bankrupt solar company Solynrda.

The investigation comes after a request by the Department of Energy’s inspector general, FBI spokesman Peter Lee told NBC Bay Area News…

Bit unclear what the issue is – but Daily Caller takes note of the number of times Solyndra execs visited the White House:

Not only does the now-bankrupt solar energy firm Solyndra have a cozy financial  relationship with the Obama administration, company representatives also made numerous visits to the White House to meet with administration officials, The Daily Caller has learned.

According to White House visitor logs, between March 12, 2009, and April 14, 2011, Solyndra officials and investors made no fewer than 20 trips to the West Wing. In the week before the administration awarded Solyndra with the first-ever alternative energy loan guarantee on March 20, four separate visits were logged…

So, what are we to make of this?  Best I can figure is that with calls being made for an investigation in to how Solyndra managed to get federal backing, this raid is a means of forestalling Congressional investigators…the Administration can say they are willing to cooperate but they can’t release all the data due to an on-going, criminal investigation in to Solyndra.  How much would anyone like to bet me that the investigation goes on until at least November 7th, 2012?

Rather fishy, I think…

Obama Connection to Solyndra?

Just what are the full details of that “green jobs” loan to Solyndra?  Inquiring minds want to know – and fortunately Bruce Krasting over at Zero Hedge has been digging around:

I wrote about the solar panel manufacturer Solyndra last week; “Government Investment Disaster in the Works” I highlighted all of the negatives that the company was facing.

It was pretty clear to me that that company was facing trouble. But I had no idea that they would file Chapter 11 the very next day. (Sometimes you just get lucky)

I also made note of some scuttlebutt that George Kaiser (Oklahoma oil billionaire) was involved with Solyndra. I have been looking for a confirmation of this. Kaiser is an important link in this story. He is also a very big fund-raiser for Obama. He is often referred to as a “Bundler”. In this case that means he encouraged/pushed others to put up money for the big O’s campaign…

Checking on that and Kaiser is, indeed, a bundler (per Open Secrets).  Don’t know how much he’s done for Obama lately, but for the ’08 cycle he raked in 33,600.00 for Obama – not as much as some of the big boys, but a tidy sum, none the less.  So, we have a big Obama donor who is heavily invested in a firm that Obama cares greatly about (remember, he used the firm as a backdrop for his efforts to convince the people that he’s doing good work as President) – that firm received a hefty loan from the government and has now gone bankrupt.  All that is bad enough…but the Zero Hedge article goes on to claim that in February of this year, Solyndra’s debts were reorganized in such a way that the taxpayer loan went to the back of the bus as far as repayment in bankruptcy goes, while firms like Kaiser’s went to the front of the line.  Convenient, huh?  Imagine that – just six months before it goes belly up, the debt structure is changed to the unusual situation where debtors like Kaiser are at the head of the line.  That is either stupendously good timing, or someone worked an inside deal…in this case, maybe a phone call to Barry or one of his minions from Kaiser?

We don’t know. Could be just the most amazing run of luck imaginable.  But it is something we need to know…after all, quite a lot of money was passed out via stimulus and we should get answers to the following:

1.  How many have failed?

2.  How many are currently in danger of failing?

3.  How many have investors people who were large donors to President Obama?

4.  In all the failed and possibly failed firms, did any of them have their debts reworked to put taxpayers last and banksters first?

I suggest a House hearing in order to clear this up.  Tens of billions of taxpayer dollars were doled out after the stimlus passed, and we need to ensure that it was all used properly…that no one used political connections to get the money nor used them to cover their losses for those firms which have failed.

Another Obama Business Dies

If Obama lauds it, it will die – from NBC Bay Area:

Solyndra, a major manufacturer of solar technology in Fremont, has shut its doors, according to employees at the campus…

…Solyndra was touted by the Obama administration as a prime example of how green technology could deliver jobs. The President visited the facility in May of last year and said  “it is just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. And you guys all represent that. “

The federal government offered $535 million in low cost loan guarantees from the Department of Energy. NBC Bay Area has contacted the White House asking for a statement…

Government can’t deliver jobs – it can’t even pick which company will be solvent a year later.  The only proper role of government in the economy is as a facilitator of a honest and free market…after that, it is up to the people to decide what works and what doesn’t.  Maybe Solyndra’s technology will eventually catch on or maybe it will remain a white elephant…but there is no way for government to know, and any attempt by government to make it work only ensures it will fail…because if you subsidize something, you’re just going to ensure that it never developes enough strength to make it on its own.

Please learn the lesson, liberals…you can’t control the market.  Sure, you can make certain that everyone is being honest; sure you can make the paths of the inventor, manufacturer, investor and consumer smooth…but you can’t choose the path and you can’t force people on to it.  Leave it alone – it will all be ok; it happens all of its own accord, if you just leave it alone.