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The stuff you won't see in the liberal media (click "Replies" for top stories)
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Friday News Dump (at least the 1st one).

White House Fires Back at 'Overbroad' Subpoena on Solyndra Documents

The White House on Friday all but refused to turn over the documents House Republicans have subpoenaed on bankrupt solar firm Solyndra, firing off a letter saying the request would put an "unreasonable burden on the president's ability to meet his constitutional duties." 

The feisty response appears to set up a clash between congressional investigators and the White House over the sprawling probe into Solyndra’s finances and the administration’s involvement in the decision to provide the struggling company a $528 million loan with taxpayer money.

White House Counsel Kathryn Ruemmler, in her letter, scolded GOP lawmakers for demanding more documents, noting the Obama administration has already turned over 85,000 pages of documents in the course of their investigation. Without explicitly refusing to comply with the subpoena, Ruemmler repeatedly described the order as “overbroad.”

“The Committee’s extremely broad request for documents — now a subpoena — is a significant intrusion on Executive Branch interests,” she wrote, saying she can only conclude the subpoena was “driven more by partisan politics than a legitimate effort to conduct a responsible investigation.”

Constitutional duties?????  and rumors today is there's a lot more coming. The House has info already but want to verify it with the docs from the WH or catch someone(s) in a lie or cover-up.


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Obama's green giveaway
  

 


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a few updates...

Solyndra warned W.H. in Oct. '10 of layoffs

Solyndra executives collected hefty bonuses in months before Fremont company filed for bankruptcy (of course they needed the $ to donate back to the Obama campaign)

Obama administration considered bailout for Solyndra days before bankruptcy

Energy Secretary Steven Chu's Solyndra testimony set for Nov 17th.


Just now A House Energy and Commerce subcommittee today voted along party lines 14 to 9 to subpoena the White House for documents. 


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Solyndra-linked campaign bundler still a big boon to Obama’s campaign

The president is so convinced that outrage about the government’s $535-million loan to failed solar company Solyndra is just “partisan politics” that he assumes it will hurt him not a bit if he continues to allow folks with Solyndra ties to significantly contribute to his campaign.

Steven Spinner is the former Energy Department official who pushed for a prompt decision on the loan to Solyndra at the same time that his wife’s law firm represented the company. He’s also a major Obama fundraiser. In 2008, he raised at least half a million dollars for Obama’s campaign — and he’s at it again this cycle. The latest quarterly fundraising report from the Obama campaign showed Spinner remains a bundler at the $500,000-plus level. He also helped to plan a fundraising event the president plans to attend tomorrow in San Francisco. Spinner was on at least one conference call to brainstorm ideas for the $5,000-a-person luncheon.

http://hotair.com/archives/2011/10/24/solyndra-linked-campaign-bundler-still-a-big-boon-to-obamas-campaign/

He just doesn't care as long as the money keeps coming in.

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Solyndra to auction assets, but taxpayers won’t see a dime

Lachlan Markay is reporting that as part of its bankruptcy proceedings, defunct solar company Solyndra will auction off thousands of items from its California production facility on Nov. 2 and 3. But taxpayers won’t see a dime of the proceeds, due to the Energy Department’s decision to subordinate taxpayers to Solyndra’s private financiers in repayment of their investments.
 
As I explained in a Friday column in the Washington Examiner, DOE has developed an unprecedented interpretation of the law to allow Solyndra’s private investors to recoup $75 million of their investment before taxpayers are repaid.
 
Heritage Global Partners, which is conducting the auction, told Scribe that the money raised “will not be anywhere near” $75 million, meaning the proceeds will go entirely towards repaying Solyndra’s private investors (though later asset sales may exceed that threshold).
 
DOE’s legal position is without precedent in the history of its loan guarantee program, as I explain in the Examiner:

Two Treasury Department officials who testified before a House Energy and Commerce subcommittee last week said they had never before seen taxpayers subordinated to private investors in the repayment of a government loan.
 
Until Solyndra, that is. In February 2011, the Energy Department helped refinance the struggling solar company’s loan in a way that gave private lenders priority in repayment of their loans.
 
Under the restructuring agreement, the first $75 million of private investment would be repaid before taxpayers saw a dime. Reps. Fred Upton, R-Mich., and Cliff Stearns, R-Fla., who chair the House Energy and Commerce Committee and its investigative subcommittee, respectively, said the restructuring agreement “violated the plain letter of the law.”

The upcoming asset sale includes thousands of pieces of office equipment, computers, power tools, assembly line machinery, and even solar panels. But because the expected returns from the auction do not exceed $75 million, the government won’t recoup any of the taxpayer money used (unsuccessfully) to prop up the company.

UPDATE: Contacted about these revelations, Rep. Cliff Stearns (R-FL), who chairs the House Energy and Commerce investigative subcommittee, called the news “a sobering reminder that taxpayers are on the hook for a half billion dollars because of DOE’s misdeeds.”


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Surprise!  No you can't talk to her!

 

On Oct. 18, the DOE informed the House Energy and Commerce Committee, which is leading the investigation into the Solyndra scandal, that it would not allow the committee to perform depositions of DOE officials, including Susan Richardson, chief counsel of the DOE Loan Programs Office.

Richardson authored the memo justifying the decision to restructure the $535 million DOE loan to solar company Solyndra, ensuring that private investors would be paid back before taxpayers in the event of bankruptcy.




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Solyndra and the IRS

The government gave the solar company individualized tax breaks.

In November of 2009, in the midst of Solyndra’s downward financial spiral, the Internal Revenue Service issued a ruling that granted special tax favors to the firm and its customers.

The “private letter” ruling involving Solyndra, though widely discussed among tax lawyers, commented upon within the solar-power community, and even flaunted by Solyndra itself, has received little attention in the mainstream media. A former IRS official told National Review that the ruling raises a red flag about political interference in the tax system. The source, who was not directly involved in the case, says that politicians have increased their lobbying for private-letter rulings on behalf of individual taxpayers ever since the Democrats took over Congress in 2007. Congressional investigators of the Solyndra scandal say they are aware of the tax angle, but have not had time to delve into it, as they are too busy unsnarling the specifics of the controversial $535 million loan to the company, as well as billions in similar loans to other companies.

More details here... http://www.nationalreview.com/articles/280565/solyndra-and-irs-lou-dolinar


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Obama's Blackberry Off Limits

Congress isn't getting a glimpse of what's on President Barack Obama's Blackberry - or any more internal White House communications related to the bankrupt solar company Solyndra, which received a $535 million loan guarantee from the federal government.

House Republicans investigating the loan controversy had requested all internal White House documents about the issue. House Energy and Commerce subcommittee chair Rep. Cliff Stearns said that includes emails on the President's Blackberry.

On Friday the White House Counsel sent a letter to the House Energy and Commerce Committee explaining they won't comply with the request because it "implicates longstanding and significant institutional Executive Branch confidentiality interests."

http://politicalticker.blogs.cnn.com/2011/10/14/source-white-house-will-not-turn-over-all-solyndra-documents/




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“I thought the White House might want to take advantage of this event to highlight a highly successful public/private partnership.”

-- Obama adviser David Prend in an email to a White House aide encouraging the president to publicly embrace Solyndra, a solar-panel manufacturer that Prend’s investment firm partly owned.

The latest figure to emerge in Soylndra green-jobs scandal is David Prend, a co-founder of the Boston-based venture capital firm Rockport Capital, who used his role as a green energy adviser to the Obama administration to push for a half-billion-dollar subsidized loan for Solyndra even though his company was a major investor in the solar-panel manufacturer.

                       

Emails obtained by congressional investigators show that Prend was perhaps the first to push for Solyndra inside the administration, touting the company in a February 2009 meeting with Carol Browner, President Obama’s former global warming and energy czar. At the time, Prend’s firm held a 7.5 percent stake in Solyndra.

Emails from senior Energy Department advisers Matt Rogers and Rod O’Connor from May of 2010 make it clear that as the company was starting to go down, the last hope was for the Democratically dominated Congress to finally push through a global warming bill that would make traditional energy sources more expensive and drive up demand for less efficient but less polluting solar cells.

Whatever the flaws in the Solyndra business model, the president likely saw only upside in siding with his donors and key advisers on Solyndra. Remember that in February 2009, no one in Washington would have doubted that Obama would succeed in imposing his plan to require businesses to purchase transferable credits for the right to emit carbon dioxide, or at least something that would have made energy more expensive.


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                This isn't going to go away! and according to the Wall Street Insider, this and others like it, might be what takes down the whole democratic party.  2 things to note today:
1. Since (according to the LA Times) we paid Solyndra’s legal bill to Wilson Sonsini of $2.4 million, I would like to know what was done…wouldn’t you?  I can tell you from my experience as a lawyer, that is a BIG tax bill and we should review it. What did we get?  What was billed?  And why are WE paying Solyndra’s legal bills?  That is absurd that we paid their legal bill to get $535 million out of us…that is like sending the fox out to guard the chicken coop!
http://blogs.ajc.com/jamie-dupree-washington-insider/2011/10/12/fast-and-furious-subpoenas/

2. It is my personal understanding – and this is the talk of others in positions of some influence, that Solyndra – what Solyndra could ultimately reveal, could prove far more damaging to the entire political system…and certainly to the Democratic Party.  –Name withheld- has spent their adult life protecting that party, promoting that party, and they have made a fine living for themselves doing so.  That kind of loyalty, while admirable, can prove somewhat debilitating when it comes to the kind of… absolution necessary to right these kinds of wrongs.  I will say this – I cannot recall when so many who are so powerful have been so afraid as there are at this time.  –Name withheld- still believes the Democratic Party can be saved.  I don’t agree.  Their attempt to salvage what is left of the party may lead them to promote one Obama scandal over another one at the expense of the greater truth.  I would simply ask that you maintain equal vigilance.

http://theulstermanreport.com/2011/10/09/wall-street-insider-obama-2012-re-election-not-an-option/


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White House and Obama warned not to visit Solyndra

Karl Gotthardt reports the Energy Department and the White House have come under fire for providing a $535 million loan guarantee for a failing green company.  E mails received and released by the minority Democrats of the House Commerce and Energy Committee indicate that the White House was warned that President Obama should not visit Solyndra.

 

One of the e-mails came from Obama fundraiser Steve Westly,  who is a California investor.  His e-mail to Valerie Jarrett indicated that his group was concerned that Obama would visit Solyndra and that the company’s cost structure would make it difficult for the company to survive long term.

"A number of us are concerned that the president is visiting Solyndra.  Many of us believe the company’s cost structure will make it difficult for them to survive long term, I just want to help protect the president from anything that could result in negative or unfair press," the e-mail said.
 
The debate  on the viability of Solyndra also included communications between Valerie Jarrett, a close confidant of Obama and Ron Klain, former Chief of Staff of Vice President Biden.  Klain advised in one e-mail that the company could go belly-up, along with other clean-technology energy ventures, by election day 2012, but that the visit looked ok.
 
"Some risk factors here, but that’s true of any innovative company that POTUS would visit. It looks like it is OK to me, but if you feel otherwise, let me know."
 
The Bush Administration had rejected the idea of a loan guarantee for the fledgling company, yet the Obama Administration pushed ahead with it.  While Democrats espouse that these e-mail prove that the loan guarantee were not political favoritism, it raises the question,  why the White House would go against the advice of investors and the Office of Budget Management.
 
Cliff Stearns (R., Fla.), chairman of the House Subcommittee on Oversight and Investigations, said that the e-mail raise significant concern.
 
"People closest to the president "had direct involvement in the Solyndra mess.   "The administration was fully aware of numerous red flags about Solyndra’s viability, but pressed ahead anyway in an effort to secure a policy or political victory."
 
Obama’s attitude also  highlighted during an interview on ABC.  In the interview Obama defended the program.
 
"Now there are going to be some failures.  Hindsight is always 20/20. It went through the normal review process and people thought this was a good bet."
 
Based on the released e-mails, one has to ask why Obama thinks people thought it was a good bet.  $567 Million have been spend on the program and there are revelations on similar green energy waste daily.  The red flag that should be raised for the people is that the loan guarantee was put on ice by the Bush Administration, just to be cranked up shortly after Obama took office.  This was either political pay back or the actions of a President who is stuck on ideology.  You be the judge.


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Obama was warned!

“A number of us are concerned that the president is visiting Solyndra,” California investor and Obama fundraiser Steve Westly wrote to Obama senior adviser Valerie Jarrett in May 2010. “Many of us believe the company’s cost structure will make it difficult for them to survive long term. . . . I just want to help protect the president from anything that could result in negative or unfair press.”


The warning, which did not convince the White House to drop the Obama factory visit, was detailed in e-mails released Monday by the Democratic minority on the House Energy and Commerce Committee. The panel is investigating a $535 million government-backed loan to the now-shuttered company.
 
http://www.washingtonpost.com/politics/donor-officials-warned-obama-not-to-visit-solyndra-due-to-financial-warnings/2011/10/03/gIQA5M2MIL_story.html?utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell

On Monday, Obama made his first public comments about Solyndra’s collapse, saying that he does not regret supporting or visiting the company as part of his administration’s backing of clean-energy companies.

As I saw tweeted yesterday; Someone should tell Obama That he's not running a casino.


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This is a huge money laundering scam with our money! Donate to BHO- get stimulus $ for company - get huge bonuses - file bankruptcy & not pay $ back - donate small amount back to democrats & BHO.

Solyndra’s West Wing Connections 

A Look At Who Knew What And When, & Who Met Who

Inside The West Wing  

 PRESIDENT OBAMA  

Received Thousands Of Dollars In Campaign Donations From Those Connected With Solyndra 




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Obama administration knew Solyndra was breaking terms of its loan -- gave them special favors anyway

Jim Hoft says the White House posted this video praising Solyndra as a Recovery Act success story on May 26, 2011:


 
Barack Obama’s gleaming example of green technology -- Solyndra -- filed for bankruptcy in August.  The solar panel manufacturer squandered $535 million of stimulus money in a little over a year.
 
Why Solyndra?

Top Obama bundler George Kaiser made multiple visits to the White House in the months before the company was granted a $535 million loan from the government.  And top Solyndra officials also made numerous visits -- 20 -- to the White House, according to logs and reporting by The Daily Caller.  Solyndra officials in the logs included chairman and founder Christian Gronet and board members Thomas Baruch and David Prend.  The company secured the $535 million loan despite the fact that it was widely known Solyndra was in deep economic trouble and had negative cash flows since its inception.
 
Kaiser said he did not use political influence or talk to administration officials about a massive government loan to Solyndra.  However, the Solyndra investor made multiple visits to the White House in the week before the Department of Energy approved a $535 billion guaranteed loan to Solyndra on March 20, 2009.

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Chu throws himself under the bus

Carol D. Leonnig and and Joe Stephens are reporting that Energy Secretary Steven Chu acknowledged Thursday making the final decision to allow a struggling solar company to continue receiving taxpayer money after it had technically defaulted on a $535 million federal loan guaranteed by his agency.

Chu spokesman Damien La­Vera said in a statement that the secretary approved the restructuring agreement for Solyndra because it gave the company "the best possible chance to succeed in a very competitive marketplace and put the company in a better position to repay the loan."

Also Thursday, a law enforcement official confirmed that the criminal probe of Solyndra is focused on whether the company and its officers misrepresented the firm’s finances to the government in seeking the loan or engaged in accounting fraud.  The official spoke on the condition of anonymity because of the sensitivity of the probe.

On the political front, Chu’s admission came as some members of Congress were asking whether Chu went too far in trying to help the company before it went into bankruptcy, leaving taxpayers on the hook for the loan.

Chu, a Nobel laureate and physicist who came to the administration from academia, arrived in Washington with a mandate to push billions of dollars in stimulus funds into clean-energy companies and projects.  With keen White House interest, Chu rode herd over an $80 billion showcase initiative that was supposed to spur a new "green" industry and economic growth.

Solyndra was the first company approved for a loan guarantee under the Obama administration; its application originated several years earlier during George W. Bush’s presidency.  Early on, there were concerns about Solyndra’s finances, but the company was still endorsed by Obama and received high-profile support from Chu.  Both visited the firm at different press events.  Chu flew to California to announce the loan approval at the groundbreaking for a $750 million factory that was built mostly with funds from the loan.

In announcing the Solyndra deal in March 2009, Chu boasted of the "speed at which the department can operate," according to an agency news release.

"Secretary Chu initially set a target to have the first conditional commitments out by May . . . but today’s announcement significantly outpaces that aggressive timeline," the release said.

In April 2010, the company’s auditors raised doubts about whether the company could continue as a "going concern" because of cash-flow problems.  The following month, Obama visited the company to praise it as an "engine of growth."

In late autumn of 2010, company executives confided to the Energy Department that they were running out of cash and could not make a required payment to a cash-reserve account.  The company was supposed to begin making the first of $5 million payments to create a $30 million cash reserve on Dec. 1.

Solyndra officially defaulted on its loan that day.  Chu approved a softening of the loan requirements so that the company could continue receiving loan installments.


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DOE Pushing on with $5 billion in solar energy loans

The U.S. Department of Energy said it plans to push ahead with as much as $5.3 billion in potential additional alternative energy loans by Friday, despite Republican complaints the money is going out too quickly to untested firms.

That comes against a backdrop of increasing political controversy over the ill-fated loan recipient Solyndra, the company whose bankruptcy has prompted questions of who inside the Obama Administration knew of the company’s weak financial position and why they continued to pour taxpayer money into it.

The DOE has made seven conditional commitments for additional funding by the time the loan guarantee legally expires on Sept. 30.  So far, it has made 23 loans totaling $11.2 billion, said a spokesman.

"We are committed to ensuring that every deal closed before Sept. 30 is fully vetted and will not close any deal that has not received full due diligence by September 30," said Damien LaVera, a department spokesman.

"We are not rushing to complete deals, we are using the full amount of time Congress allocated for the program so we can ensure that we fully complete all due diligence and make informed decisions based on the most recent data."

LaVera declined to specify how many companies would get the new loans, or name them, citing potential market impact.

Continue reading here . . .


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Great round up so far on this!

Here's the reader's digest version:

• Billionaire George Kaiser raised at least $50,000 for Barack Obama's 2008 presidential campaign.
• Kaiser's company, Solyndra, received a $535 million loan guarantee from DOE.
• Kaiser's company received the loan before DOE received final copies of outside reviews of the deal.

• Steven Spinner raised $500,000 for Barack Obama's 2008 presidential campaign.
• Spinner then became one of Energy Secretary Steven Chu's key loan advisers.
• Spinner later wrote that he "helped oversee the more than $100 billion" in loans and guarantees.
• Spinner executed 29 stock trades in energy companeis while serving as a DOE adviser
• Spinner held shares in at least four companies that received DOE loans
• Spinner's wife's law firm collected around $2.5 million while representing Solyndra
• Spinner's wife's law firm also represented two other companies that received $34 million from DOE

• Steve Westly raised $500,000 for Barack Obama's 2008 presidential campaign.
• Westly then became one of Energy Secretary Steven Chu's key advisers.
• Westly was an investor in five firms that received half a billion dollars in energy grants and loans from DOE.

• John V. Roos raised $500,000 for Barack Obama's 2008 presidential campaign.
• Roos' law firm (the same firm Spinner's wife worked for) collected around millions from DOE-funded companies.

Put simply, if the Climatards are willing to waste billions enriching themselves in the name of green energy, then they can't really take the global warming scam seriously.

In other words, the green tech movement no more believes in global warming than you or I.

And, once again, where's the special prosecutor?
http://directorblue.blogspot.com/2011/09/shock-abc-news-blows-energygate-wide.html


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Solyndra Investor, Obama Bundler George Kaiser in 2009: It’s Time to Cash in on the Mother of All Government Handouts

video & info http://www.verumserum.com/?p=29428


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"any competent prosecutor’s office"

and who would that be? Definitely not the current DOJ.

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White House may face criminal charges over Solyndra

Andrew C. McCarthy says the Solyndra debacle is not just Obama-style crony socialism as usual.  It is a criminal fraud.  That is the theory that would be guiding any competent prosecutor’s office in the investigation of a scheme that cost victims -- in this case, American taxpayers -- a fortune.

[Ramirez-9-20-11]

Fraud against the United States is one of the most serious felony offenses in the federal penal law.  It is even more serious than another apparent Solyndra violation that has captured congressional attention: the Obama administration’s flouting of a statute designed to protect taxpayers.


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Obama fundraiser linked to federal loan for failed solar company

Matea Gold and Stuart Pfeifer are reporting The White House faced mounting political complications as a second top fundraiser for Barack Obama was linked to a federal loan guarantee program that backed a now-bankrupt Silicon Valley solar energy company, and as two California lawmakers called for investigations of a state tax break granted to the firm.
 
Steve Spinner, who helped monitor the Energy Department’s issuance of $25 billion in government-backed loans to renewable energy projects, was one of Obama’s top fundraisers in 2008 and is raising money for the president’s 2012 re-election campaign.
 
Spinner did not have any role in the selection of applicants for the loan program and, in fact, was recused from the decision to grant a $535 million loan guarantee to Solyndra Inc. because his wife’s law firm represented the company, administration officials said Friday

But Spinner’s role as a top official in the Energy Department program, which had not been previously revealed, is likely to spur new inquiries into whether political influence played a role in the handling of the "green" energy fund. Solyndra faces a congressional probe, a criminal investigation and separate internal inquiries at the Energy and Treasury departments.
 
"This will fuel more questions, and now you’ve got real people involved at the inspector-general level who will be turning over chairs and cabinets, asking questions," said Stanley Brand, a criminal defense and ethics lawyer in Washington who has served as general counsel to the U.S. House of Representatives.

Continue reading here . . .


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The Washington Post article coincides, not coincidentally, with a House Energy and Commerce Committee investigation and hearing last week that is exposing the Solyndra issue as a major scandal for this administration. While we appreciate Congress’ work, we think it is important that an independent investigation is conducted, free of politics, into this matter. Accordingly, Judicial Watch has launched a full investigation of its own. We’ve already submitted Freedom of Information Act (FOIA) requests to the Department of Energy (DOE), the Office of Management and Budget (OMB), the Treasury Department and the General Accounting Office (GAO) for records related to the loan guarantee, interagency communication regarding the loan and communications with Solyndra’s private financiers.

While JW’s probe is still in its early stages, here are a few things our experienced investigators have already dug up:

http://biggovernment.com/tfitton/2011/09/19/solyndra-scandal-hits-obama-white-house/


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Reply with quote  #49 

Solyndra investor donated to Michelle’s pet cause

A Daily Caller 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.

Kaiser, a major Obama donor, was a frequent White House visitor during the week before the Obama administration approved that taxpayer-underwritten financial deal.
 
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.

Continue reading here . . .


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SocalJay

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Reply with quote  #50 
Obama hacks are already blaming Bush for this, even though the Bush administration adamantly denied the loan on his watch.
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