White House 'rushed' loan to solar firm Solyndra

[nadinbrzezinski]

The White House could have rushed approval on a major government-backed loan to a failed solar panel firm for political reasons, say US Republicans.

Solyndra declared bankruptcy this month after laying off 1,100 workers, and was then raided by the FBI.

The company came to prominence when President Barack Obama visited it in May 2010 to promote green business.

The White House denied the loan had been rushed so that Vice-President Joe Biden could attend a groundbreak event.

http://www.bbc.co.uk/news/world-us-canada-14923431

And timeline

Solyndra: Advanced by Bush for 2 Years (Solyndra Timeline)

It’s often claimed that the Solyndra loan guarantee was “rushed through” by the Obama Administration for political reasons. In fact, the Solyndra loan guarantee was a multi-year process that the Bush Administration launched in 2007.
You’d never know from the media coverage that:
The Bush team tried to conditionally approve the Solyndra loan just before President Obama took office.
The company’s backers included private investors who had diverse political interests.
The loan comprises just 1.3% of DOE’s overall loan portfolio. To date, Solyndra is the only loan that’s known to be troubled.
Source: Clean Technica (http://s.tt/13giD)

Comment: http://posterous.com/#spaces/nadinbrzezinski/posts/70490165

[joeybee12]

1. That's what happens when Repukes control the House...they get to hold high-profile

witch hunts, er, hearings.

That said, I wouldn't be surprised if they did rush it.

[gateley]

2. This sucks -- for ALL concerned. Why can't these rich fucks

do some "job creating" with their tax money not paid in taxes, and invest in these companies? Isn't that how it's supposed to work?

[nadinbrzezinski]

4. Check the time line

[gateley]

8. So are they blaming the Bush administration? (Not the Republicans,

we KNOW they're blaming Obama -- those who are investigating.)

[Abq_Sarah]

9. The loan process began prior to 2009

On Jan 12th, 2009 the DOE Credit Committee kicked Solyndra's application back because it didn't provide enough information, including an independent market study. On January 26th, the DOE restarted the approval process. On March 14th, the DOE gave the loan conditional approval without the additional information.

[maxsolomon]

3. they'll make this a scandal if they can

FoxNews is on it, no doubt.

If Boehner can use it to impeach, no matter how absurd, don't bet against it.

[nadinbrzezinski]

5. Check time line

but yup

[Gold Metal Flake]

6. +1 but Neg rec'd. I guess there are people out there who did not check the timeline...

...or did and found it looked bad for their guy. You know, the last guy.

Thanks for trying, again.

ETA: I rec'd. Still zero.

[nadinbrzezinski]

7. You know, regs or not... don't care

:-)

But since the timeline did not strictly come from a nooz site.


:hide:

[Abq_Sarah]

10. The timeline

Isn't a winning point in this case.

The email memos tell more of the story.

[spanone]

11. why wouldn't republicans say that? it's a fucking opinion.

i call bullshit

[treestar]

12. Here's an article on how it is a phony scandal

http://www.ourfuture.org/blog-entry/2011093713/phony-solyndra-solar-scandal

[TheBigotBasher]

13. K&R

Lots of Bush fans around as still at zero.