Friday, September 9, 2011

Obama Gave Federal Money to Corrupt Green Firm Where Obama Fundraiser Invested

The name Solyndra is about to become a big problem for the Obama administration. ABC News has done an expose on a green technology firm called Solyndra, to which the Obama administration gave stimulus money amid great fanfare -- even a presidential visit. Solyndra has devolved from the Obama administration's example of shining sustainability, to bankruptcy, to a federal raid and Congressional investigations.

Now ABC reports that Obama administration officials "from the Department of Energy have for months been sitting in on board meetings as 'observers' at Solyndra, getting an up-close view as the solar energy company careened towards bankruptcy after spending more than $500 million in federal loan money."

That is, the Obama administration was complicit in this mess, that has resulted in 1,1000 people losing their job and taxpayers losing millions in wasted stimulus money.

It is impossible to square the company's collapse with its CEO's visit to Congress this summer when Brian Harrison praised the government loan and cited the company as an example of successful green technology. Just two months later and the FBI is raiding the building.

This is where it matters that Republicans control the House:  Congressional investigations.

Perhaps the House can explore: (1) why Solyndra misrepresented its financial condition; (2) how the company got such a sweet loan; and (2) whether its loan is connected to the fact that one of its largest investors is George B. Kaiser, Obama's billionaire fundraiser.

While they're at it, the House should investigate the subject matter of those 16, count them 16 visits that Kaiser made to the Obama administration.

Whoever decided to send Obama to Solyndra's headquarters to tout green technologies is probably hiding under his or her desk.

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