Thread: SOLYNDRAGATE SCANDAL DEEPENS

SOLYNDRA-GATE: What You Need To Know About The Scandal Threatening The Obama Presidency
Zeke Miller | Sep. 16, 2011, 12:03 PM | 6,044 | 60

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When Solyndra went bankrupt last month it blew the lid off a scandal that had been simmering for months — and now threatens to ensnare the administration in months of hearings and bad headlines going into the 2012 election.

There is no evidence, nor is it likely, that Obama had any ties to the controversial $535 million loan, but already senior advisors are under fire for their roles in assisting the struggling company — which had strong ties to a key Obama donor.

George Kaiser, whose Argonaut Private Equity was a major backer of Solyndra, raised between $50,000 and $100,000 for Obama's 2008 campaign, though the White House denies this was why it maintained close ties to the company.

ABC News reported that administration officials sat in on Solyndra board meetings as observers in the months leading up to the company's bankruptcy.

Even before the loan was approved in September 2009, auditors raised serious doubts about the company's finances, Bloomberg reported — enough to write that the “problems raise substantial doubt about its ability to continue as a going concern.â€

[quote]Obama’s 'Crony-Gate' Scandal Widens — Billions Now Under Scrutiny
Friday, 16 Sep 2011 01:28 PM

By David A. Patten

Allegations that White House aides attempted to pressure an Air Force general to alter his congressional testimony in order to aid a firm controlled by a prominent Democratic donor lent new momentum Friday to GOP complaints that “crony capitalismâ€

Uncovered emails reveal Obama administration knew Solyndra was risky, lied to public

Saturday, September 17, 2011 by: Jonathan Benson, staff writer

(NaturalNews) The legitimacy of the Obama administration's green energy initiatives has been called into serious question after California-based solar technology company Solyndra, which received more than $535 million in taxpayer-funded loans, went belly-up just days ago (http://www.naturalnews.com/033551_S...). And according to ABC News, the US House Energy Commerce Committee recently uncovered internal emails revealing that the White House knew the company was in trouble long before its bankruptcy, but essentially reassured the public that everything was a-okay.

Part of a more than $6 billion stimulus initiative to spur alternative energy development, the Solyndra scandal is ironically shaping up to be the poster child of the Obama administration's undeniable lack of proper oversight of its loan program, rather than the glowing example of the future of green energy that it was originally hailed to be when Mr. Obama toured the facility back in 2010.

Not only was the Obama White House aware of Solyndra's escalating financial mishaps long before its official bankruptcy, but a budget analyst for the administration had warned it back on March 12, 2009, nine days before Solyndra was awarded the loan, that the "deal [was] NOT ready for prime time." And just a few days before that, Ronald A. Klain, chief of staff to Vice President Joe Biden, brought up the issue of the deal potentially being a "bad idea" as well.

According to CBS News, the US Treasury Department's Inspector General has now initiated an investigation into the matter to determine Solyndra's role in allegedly misleading the government about its financial stability. However, the investigation will also probe the activity and involvement of the Federal Financing Back, the government corporation that provided Solyndra its loan in the first place.

Back in March, U.S. Department of Energy Inspector General Gregory Friedman alleged that the White House was doing a poor job of maintaining records on the alternative energy loan program. He wrote in a report that there were no "systematically organized records" to properly identify the financial risk involved in granting such loans. This, of course, puts White House officials in the crosshairs of an investigation as well.

Attention has also been focused on billionaire George Kaiser, a private investor in the Solyndra deal who also fundraised for Mr. Obama during the 2008 presidential election cycle, and his potential involvement in the scandal.

Sources for this story include:

http://abcnews.go.com/Blotter/email...

http://www.cbsnews.com/stories/2011...

Learn more: http://www.naturalnews.com/033606_Solyn ... z1YJyjotsE



Learn more: http://www.naturalnews.com/033606_Solyn ... z1YJyffXrh



http://www.naturalnews.com/033606_Solyndra_emails.html