category

Solyndra hearings: Day One

White House rushed decision on Solyndra

The Obama White House tried to rush federal reviewers for a decision on a nearly half-billion-dollar loan to the solar-panel manufacturer Solyndra so Vice President Biden could announce the approval at a September 2009 groundbreaking for the company’s factory, newly obtained e-mails show.

The White House says golly shucks they were just inquiring about things so Biden could firm up his schedule with no pressure whatsoever implied. I’m sure if you or I got phone calls from the White House asking if we’d done something, we’d feel no pressure either.

Did the loan restructuring break the law?

During the hearing, Rep. Fred Upton (R-Mich.) called the subordination of the government funds to private investors an “apparent violation of the law,” and Rep. Joe Barton (R-Texas) called the subordination potentially “a direct violation of federal law.”

This could be serious. $75 million in private loans was made senior to federal loans, which is stinky enough as is, bit if it’s also illegal…

Comments are closed.

Powered by WordPress. Designed by WooThemes