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Let's Talk About Obama's Most Recent Humiliation

Discussion in 'News & Current Events' started by InTheLight, Sep 14, 2011.

  1. InTheLight

    InTheLight Well-Known Member
    Site Supporter

    Dec 17, 2010
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    WASHINGTON — A House subcommittee released documents on Wednesday morning suggesting that a final review of more than $500 million in loan guarantees for Solyndra, a California solar company that recently declared bankruptcy, may have been rushed so that Vice President Joseph R. Biden Jr. could announce its approval at a groundbreaking two years ago.

    As federal authorities examine whether Solyndra misled the government about its true financial state, the Obama White House is fielding fresh questions over why it pushed so hard for Solyndra. Officials with DOE and the Office of Management and Budget are expected to testify Wednesday. Executives with Solyndra, invited to appear as witnesses, will not attend Wednesday's hearing but have told the House committee they will voluntarily appear next week.

    The Republican-led House has been investigating the Obama administration's green energy loan program for months. That probe took on new urgency two weeks ago, when Solyndra abruptly shut its doors and laid off 1,100 employees. Last week, the FBI raided the factory as part of a joint investigation with the Energy Department's inspector general.


    Let's review. After the Bush administration turned it down, Obama's administration fast-tracks a federal loan of $500 million to a political supporter's company. Two years later the company is bankrupt, 1,000 workers are laid off, and the taxpayers are left holding the bag for the half billion dollar loan.
  2. targus

    targus New Member

    Feb 10, 2008
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    It's going to get worse.

    I have heard that there are four or five other companies like this one that got federal loan guarantees in the amount of 1.5 billion that will also most likely end up defaulting.

    All with financial ties to Obama fund raisers.