Solyndra Investigation Heats Up

Pages: 1 2

After that come the two most onerous developments. In July 2011, Solyndra CEO Brian Harrison went to Washington, D.C. to tout the company, telling policy-makers they should “separate Solyndra and its business results from the political process that is ongoing.” He also claimed the company was in a “strong financial position.” Two weeks later, it was over: the company closed its doors, laid off 1,100 workers and filed for Chapter 11 bankruptcy.

Harrison and CFO Bill Stover were supposed to appear before the committee yesterday, but a spokesman for the duo claimed that complications arising out of the bankruptcy forced them to re-schedule for some time next week. There is speculation that both men may plead the Fifth Amendment against self-incrimination.

Despite all of this happening on the Obama administration’s watch, Director Silver of DOE’s Loan Program Office attempted to pin equal shares of blame on the Bush administration, which initiated the process for Solyndra in 2006. Silver asserted that the current administration did nothing more than stay “on the exact schedule that had been developed during the Bush administration,” when it approved the loan in 2009. The DOE itself got on the bandwagon as well. During the hearing yesterday, it sent out emails attempting to promote the message that Solyndra was a “bipartisan problem.” Republicans countered with internal DOE emails showing that the Bush administration’s loan evaluators made the unanimous decision to shelve Solyndra’s application two week before Obama took office.

Rep. Edward Markey (D-MA) tried a different tack, claiming Republican attempts to turn this investigation into a political albatross for Democrats “is all part of an agenda here that deals with the solar industry and the wind industry.”

Yet it was not the FBI under the Bush administration that raided the offices of Solyndra’s headquarters in Freemont, CA last week, or visited the homes of its CEO and founder. Nor did the former administration have anything to do with an announcement by the Treasury Department late yesterday afternoon that it, too, would be joining the investigation, due to the fact that the $535 million in loan guarantees arranged by the Energy Department were processed by the Federal Financing Bank. That government lending institution falls under Treasury’s control. “We’re going to look at everything the FFB had to do with its role in this thing,” said Rich Delmar, spokesman for the Treasury Department’s inspector general.

That makes a total of three separate investigations, at least one of which (the one conducted by the FBI) has been characterized as “criminal.” The Democratic Party and Obama administration talking points revolve around the idea that this was nothing more than a bipartisan “bad bet” on one company in an industry that requires massive government intervention in order to compete against “unfair” foreign competition. Unfair competition that is one of the principal reasons for Solyndra’s demise. Republicans contend that the Obama administration’s crony capitalist tendencies to pick “winners and losers” motivated them to cut corners at best, or condone and/or engage in criminal activity at worst.

Who’s right? That’s what three investigations will decide. But one aspect of this issue, the attempt by Democrats to drag the Bush administration into the middle of this story, smacks of desperation. In order to understand how, one only has to imagine the exact opposite scenario. If Solyndra were a booming success, what are the odds the Obama administration would highlight the Bush administration’s foresight in considering their loan?

Next week, when the top two executives of Solyndra testify – or don’t – we’ll get a much clearer picture of where these investigations are headed.

Pages: 1 2

  • mikidiki

    When someone else's money is available due diligence goes out of the window. Green energy in the red makes a colorful picture.

    • StephenD

      What is worse still is that he doubled down on this despicable behavior in the fact that his friends will be first in line to get their money and the tax payers money have to get behind them. And we're supposed to believe he cares about the people of America?!?

  • CrossofMalta

    The OClowna a man who has never worked or done anything in life except access affirmative action programs and causes – including working for that great group Acorn. OClowna pronouncing Solar as the future;
    "Yet in May 2010, the president delivered an address to an audience of Solyndra employees telling them that “the future is here. We’re poised to transform the ways we power our homes and our cars and our businesses."

    $600 mn wasted on his pet solar company. Why aren't politicians going to jail for this fraud along with Solyndra execs ??????

  • geez

    It's hilarious, Solyndra is a perfect representation of green jobs and this President's future. He's destined to be Jimmy Carter's replacement as the biggest moron to hold the office. Don't let the door hit ya where the good Lord split ya BO (and Lurch).

  • Ageofreason

    Yes, the Democrats must take sole responsibility for this boondoggle whether by "manning up," and/or through legal means, but there's one thing the Republicans must face. The fact that the Republicans even considered financing a private enterprise tells us that they don't understand that just as separation of church and state is a foundation of America, so too must be separation of economics and state. The government must stay out of the private business of the nation. If a business fails, so be it. Taxpayer dollars must never go into businesses even if they appear, at some point, successful! It is wrong to do so, and always ends in trouble. Furthermore, government ownership of business has a name: Communism.

  • jacob

    It is my understanding that this SOLYNDRA company manufactured solar water
    heathers and if I'm wrong, please somebody correct me..
    Now, having visited ISRAEL, I've noticed that most houses/apartments have solar
    water heathers and some supplement it with gas heathers for winter, when the
    sun is not as strong but speaking to people knowledgeable on the issueI never
    heard of any such manufacturers enjoying govmt. subsidies as this SOLYNDRA company did but the most strange thing is that almost after receiving the funds,
    it closed for good ???
    And needless to say, it is BUSH administration's fault….
    I know BUSH's administration had quite a few "HOOF IN MOUTH" but it is fully
    unfair to pretend making it the ISRAEL of all the failures of this "administration"
    (For all those not aware of the situation, all of world's troubles are ISRAEL's fault)
    Or isn't it true that even General PETRAEUS claimed that Muslim "insurgents"
    were killing American soldiers because of the Arab-Israeli conflict ????

  • Cuban Refugee

    Will Solyndra become Obama's Watergate? Don't hold your breath … as has been proved by all the recent cover-ups eagerly effected by adoring "journolists," there is a huge hole in the search for truth where today's Woodward and Bernstein ought to be. The universe is witnessing the most corrupt, duplicitous, Chicago-thug administration in the history of our nation, and the press sit on their i-Pads. We have bloggers to thank for any dribble of news; and, if not for Glenn Beck and his nonpareil research staff, We the People would be lambs on the way to slaughter, completely blind to the shenanigans in this red White House. The Fourth Estate may be fearful of being reported to the regime's latest Attack Watch if they expose the truth; but, the weak, traitorous hacks in bed with evil have nothing to fear but their collective conscience for their nefarious roles in our republic's demise.

    • Tanstaafl jw

      The constitution requires that the President of the United States be a natural-born citizen. Not simply a citizen of the US, but a natural-born citizen. A natural-born citizen has two American citizens as parents. This is constitutional requirement for the office. The fourteenth citizenship but says nothing out natural-citizenship and more importantly, does not repeal this requirement for the office of POTUS.

  • Chezwick_mac

    I was thinking the same thing. If a Woodward and Bernstein actually existed today at the Wapo or NYTimes – an unlikely prospect in-and-of itself – they would no doubt be muzzled by the editors of these "respected" institutions.

  • FTrask

    Let us not forget "wind turbines". They would be hugely successful if only our politicians would blow on them. Otherwise, they are just another huge suck-up of taxpayer money.

  • patti

    Looks like Ground Zero has a "Green" problem….

  • BLJ

    Just another reason that Comrade Obama and his cohorts should be residents in the graybar hotel. If there was a Republican in the WH this would be front page news and the dolts in the MSM would be leading the charge.

    This whole "green" energy stuff is just a big time scam. Another way for the supporters of this to steal more money from the American people.

    Finally, how come the bond holders for GM and Chrysler didn't get this kind of guarantee for their investments like some of Obama's fat cat buddies?

  • "gunner"

    right, "no pressure" BANG!

  • mrbean

    The Obama administration will stonewall it and nothing will happen just like when Clinton was having bags of money dropped off at the White House by the Chinese Red Army agent Johnny Cheung or when Clinton was taking bribes for pardons when he left office.

  • polipath

    "Next week, when the top two executives of Solyndra testify – or don’t – we’ll get a much clearer picture of where these investigations are headed."

    I'm guessing they're headed for the same trashcan that Filegate, Chinagate, Berger's theft of Nat'l Archives documents, the guns to Mexico scam, Al Franken's Senate election theft and every other Dem scandal goes. The GOP RINO's always retreat when the D's and their Media Propaganda apparatus threaten to expose some trivial piece of dirt on a GOP solon who was caught holding hands with an intern or some such.

  • Bowmanave

    Its a shame when green industries don't do very well, but nevermind the environment, because when they fail we can bash the current president.

    • kafir4life

      Green industry has nothing to do with the environment. It has to do with redistribution of wealth.

  • kafir4life

    Talk about equality!! Up until now, every single worst president we've had has been white! It refreshing to see that a black man can be a disgusting piece of filth one-term loser too.

  • kafir4life

    President Hussein needs money for his re-selection, and a lot of his previous campaign funding has dried up as former supporters have come down off the drugs. There were presidential "tip jar" concerns that helped fast track the "loans", which were really nothing more than elaborate scams designed to fund Obama's follies at the expense of the taxpayers. His gun running operations, while successful, are not bringin in the kind of cash that he needs, and the dinner raffle is just a failure. No way he can get himself re-selected at 5 bucks a pop.

  • Asher

    This administration knew that Solyndra would run out of money in Sept of 2011 as foretold to them and yet spent over 500 million of Tax payer money to help them…Now look at more layoffs at that company. This administration has deceived everyone, Democrats, Republicans, Hispanics, and Blacks. They don't care about America period, this is Stealth Jihad through government policies and control!

  • Alan D.

    I wonder which is the greater crime and scandal?
    The gunrunning false flag operation, the counterfeit
    birth certificate or Solyndra.
    Alex Jones "Obama Birth Certificate Is Fake".

  • scandals

    Excellent blog here! Also your site rather a lot up very fast! What web host are you using? Can I get your associate link for your host? I want my website loaded up as fast as yours lol