Bombshell: Emails Reveal Direct White House Tie to Solyndra Scandal

Here is the first hand account from a writer witnessing and recording yesterdays hearing. Interesting thoughts and observations

Yesterday I spent more than two hours watching, and live-blogging, the Congressional oversight committee hearing on bankrupt solar start-up Solyndra. When it was over, I felt as if I had wasted two hours on a Jersey Shore marathon: Dirty, unfulfilled and angry (both at myself for watching, and at those who gave me something to watch).

To be sure, I had expected lots of self-serving statements that could have been entered into the record without being verbalized (gotta get that sound bite). And of course there would be talk of whether only one president (Obama) or two presidents (Obama and Bush) were to blame for loaning Solyndra $535 million of taxpayer money, plus questions of political pressure (most of which seemed to revolve around the timing of the loan's close, rather than its approval).

Key points that were untouched yesterday

But I also had hoped for a detailed analysis of Solyndra itself – particularly its business model. Was the company, as it has argued, a victim of collapsing global solar prices (spurred by Chinese subsidies and the European financial crisis)? Or was it the victim of its own hubris – believing that customers would pay massive up-front costs for long-term savings? Or a combination of both? And, whatever the resolution – was such an outcome foreseeable?

Finally, why did VCs keep investing in the company in late 2008 – considering that Silver claimed the company would have failed without the early 2009 loan? Did they have good reason to believe DoE had come around, or was it evidence that lots of bad money followed honest intentions?

Unfortunately, virtually none of the substantive issues were discussed.

DoE loan program chair Jonathan Silver -- an ex-VC, even though it seems few committee members cared to read his resume -- pressed the solar price case, which was echoed by certain Democratic committee members, but never was asked to talk much about Solyndra specifically. Most of the Republicans simply wanted to make speeches and insinuations. The worst offender was chair Cliff Stearns (R-FL), who kept preventing Silver from answering what Stearn apparently felt were rhetorical questions.

At least Phil Gingrey (R-GA) had some queries about the legality of DoE restructuring the Solyndra loan with a private debt investor who got seniority – it had been approved by DoE and OMB counsel -- although he only did so for the purpose of arguing its illegality (again, sound bite).

My takeaway: This committee – both sides -- is not serious about finding out what really went wrong with Solyndra, thus perhaps improving the DoE loan program going forward. Its primary concern is scoring political points. And it didn't even do that very well…

Let's hope the tough questions get asked real soon!!
finance.fortune.cnn.com...

Originally posted by jibeho


This image gives you an idea about what Solyndra was up against in regards to competition from the Chinese. This is not new information and just adds further to the notion that this deal was doomed from the start. How can any company successfully compete with China on its own? I am not advocating govt. support for this either maybe we just need tougher trade guidelines with China. Never happen though. The own the majority of our debt. So, we're screwed by the Chinese and the Nimrods in DC.

Here is a blogger trying to keep up with the play by play in these hearings. This is from yesterday
finance.fortune.cnn.com...

edit on 15-9-2011 by jibeho because: (no reason given)

Solyndra was making solar panels/cylinders for $6.29 per watt.
Solyndra was selling them for $3.29 per watt.
The industry norm is $1.75 per watt!
More info here: - Solyndra Truth -

reply to post by Blackmarketeer


the very first part is do wrong . where is this right-winged media you speak of ?

Originally posted by Jakes51

The Holder Justice Department will have to respond to this scandal. Even if it affects his apparent lock-step relationship with the White House. Those emails appear to be direct collusion between an apparent shake and bake company and the White House to defraud the taxpayer of nearly a billion dollars? I suppose the only "green," anyone ever saw from this was the color of money?

With the increasing calamity in the world, wars, rumors of wars, earthquakes increasing in numerous and diverse places etc... I had to make a conscious effort NOT to tune in to the news. It's literally making me ill. ANYWAY, I have not been following this development but based on what little I have learned, I would be on the look out for a Holder resignation in the next few weeks. I base my prediction on the relationship between Holder and BO. Holder is not going to prosecute his boss and may well get caught up in this whole mess himself. It makes sense to me that BO would accept his resignation, give him immunity or pardon him and then put another guy in (Republican) to take the fall.

At least that's the way I'm seeing it for now. Opinions?

Even the left wing mass media outlets are letting this one fly.....but even beyond the obvious rhetoric - Is anyone surprised? Obama and co are corrupt, but take anyone on the right side - they are about just as bad.

And now check out this thread for the newest scandal brewing for the obama White House.

A four star general is saying that the White House pressured him to change his congressional testimony to make it more favorable to a big obama campaign donor's project.

Problem is the donor's project has the potential to significantly disrupt the military's GPS system.

Originally posted by centurion1211

Originally posted by Indigo5

Originally posted by centurion1211
Solyndra was approved in a very fast and furious manner only a couple weeks after the Bush administration had said no.

edit on 9/14/2011 by centurion1211 because: (no reason given)

Wow...False on both counts. You know you can knock the POTUS without outright BSing?

On Solyndra-gate, cherry pick the news all you want to try and salvage obama's reputation (yet again - getting to be a habit with you), but the facts are the facts.

Facts invlove links to facts, otherwise that is a claim...which is what your posts seems to be.

Oh well, let's examine your claims.

Originally posted by centurion1211
Fact: The application was turned down under the Bush administration.

Not for lack of trying and not for lack of merit. When the Bush Admin tried to push it through a week before President Obama took office it was rejected for not having going through the full vetting of the commitee..

Read my last post and link above...

Originally posted by centurion1211
Fact: The application was approved under the obama administration - after multiple visits to the White House by a key Solyndra-gate investor who also was a big obama campaign donor.. Can you say QUID PRO QUO?

You mean George Kaiser of the Kaiser foundation? He is worth 10 Billion...he invested 17 Million in Solyndra.

You think 17 Million was important to that man????

He has given 4 BILLION to Charity thus far and signed a pledge to give away his remaing wealth when he dies. You think he was staying up at night over 17M??? That strains incredulity.

money.uk.msn.com...

A better suspect would be Sam Walton and the Walton Family..the second biggest investor in Solyndra at 10 Million...oh, that's right, he's a republican funder...funny his name isn't mentioned

Originally posted by centurion1211
Fact: Multiple financial people that reviewed the business model said it wouldn't work. Because - and pay close attention here - you can't make a solar panel for $6/watt and sell it for $3/watt.

Sure you can. That is precisely what China is doing. Why? Because they are looking and so far have been successful in cornering the market. Once the US solar industry is entirely decimated (which the GOP are apparently looking to make sure happens) everyone on the planet will be forced to buy from China.

This is a big win for China...not just Solyndra's failure, but the way the GOP is making sure the whole industry takes a beating. Of course it is a big win for Oil Companies and the Koch Brothers etc. A chance to beat a competing industry to death because of one companies failure.

Originally posted by centurion1211
Some people will beat a dead horse,

They certainly will and thus "Solyndra-gate" is born.

That way people can moan about one loan that went bad out of hundreds...here let me break it down.

Obama Adminstration = Solyndra
Bush Adminstration = The world economy.

Keep beating that horse...it's either kick the horse or get to work repairing the Great Recession that GW led us into.

I am pretty sure where the GOP and yourselves would like to keep the headlines.

Originally posted by Indigo5

You think 17 Million was important to that man????

Just one example from you.

Not even a fact.

Not even really a claim by you.

But it doesn't stop you from making assumptions based on it such as

I am pretty sure where the GOP and yourselves would like to keep the headlines.

.

So, you were saying?

Hint: About the headlines. Maybe you should talk with obama about not making so many headlines like this.

Tedious ...

Originally posted by centurion1211

Originally posted by Indigo5

You think 17 Million was important to that man????

Just one example from you.

Not even a fact.

edit on 9/15/2011 by centurion1211 because: (no reason given)

Sure it is.

Kaiser gave 17 Million to Solyndra and you claimed that he was involved in a "quid pro qou" with President Obama because of that investment. I stated that he is worth somewhere around 9 Billion, has already given 4 Billion to charitable causes and that he has pledged to donate his wealth when he dies to charity.

In that context the idea that he would look to involve himself in illegal activity to protect a 17 Million dollar investment is simply ludicrous.

Try this...9 Billion dollars in a simple savings account at the lowest rate of 1% return a year earns him 90 Million a year...

Yet you think he involved himself in a corruption scandal with the President of the United States for a 17 Million dollar investment? He can make 17 Million dollars in a month with a 2% return on his wealth.

Those are facts. Your CLAIM is nonsense when facts are examined.

Obama Adminstration = Solyndra
The last GOP President = The world economy.

Nuff said.

I have a question for the Obama supporters.
Why is it that the so called "most intelligent man to ever be President" was not even smart enough to realize what the so called "most dumbest man to ever be President" knew immediately,that this green company was doomed to fail?

Originally posted by Alxandro
I have a question for the Obama supporters.
Why is it that the so called "most intelligent man to ever be President" was not even smart enough to realize what the so called "most dumbest man to ever be President" knew immediately,that this green company was doomed to fail?

Solyndra was just a way to provide a - kick back - to one of his big supporters.
I think the plan was to just blame it all on China for the Solyndra disaster.
----------
Since the GOP has control of the House we now have hearings to expose the ugly truth.
Solyndra = Lemon Socialism not Crony Capitalism

reply to post by Alxandro


they always claim intellectual superiority of those dumb righties

but few ever prove it.

Originally posted by Alxandro
I have a question for the Obama supporters.
Why is it that the so called "most intelligent man to ever be President" was not even smart enough to realize what the so called "most dumbest man to ever be President" knew immediately,that this green company was doomed to fail?

When people make such comments about Obama's mental prowess they are certainly suffering from amnesia. I guess they have already forgotten about the legitimate intelligence of Bill Clinton (Rhodes scholar) Clinton has been stepping up to the plate for Obama when he needs it because Obama can't handle it on his own. The first time I have ever seen such obvious hand holding by a former POTUS with a current President.

Obama's academic claim to fame. Affirmative action appointee to head up Harvard Law Review. The first year where such a position was NOT awarded based on academics, performance and leadership. Hmmm...

Originally posted by Indigo5

Originally posted by centurion1211

Originally posted by Indigo5

You think 17 Million was important to that man????

Just one example from you.

Not even a fact.

edit on 9/15/2011 by centurion1211 because: (no reason given)

Sure it is.

No.

I referring to your assumption that YOU somehow know what is and is not important to Kaiser. That YOU know that $17 million is not important. And that you go on to make assumptions based on your "special knowledge".

Poor logic at best.

Originally posted by Alxandro
I have a question for the Obama supporters.
Why is it that the so called "most intelligent man to ever be President" was not even smart enough to realize what the so called "most dumbest man to ever be President" knew immediately,that this green company was doomed to fail?

I have a question for Obama haters...

Must you always lie when Attacking the President?

The Bush Administration tried desperately to fast-track this loan.

January 2009: In an effort to show it has done something to support renewable energy, the Bush Administration tries to take Solyndra before a DOE credit review committee before President Obama is inaugurated. The committee, consisting of career civil servants with financial expertise, remands the loan back to DOE “without prejudice” because it wasn’t ready for conditional commitment.

cleantechnica.com...

I am sure you can't tell the difference between "supporting Obama" and supporting the truth, but you should really try it sometime, it makes looking in the mirror much easier.

I posted the above with a link on page 2, did you read the thread? It's only 3 pages...but I understand the eagerness to jump in and get your BS on. It must be tough now that the birther threads are gone.

Originally posted by centurion1211

Poor logic at best.

Wow...kettle black...just wow.

i love this

obama signed the deal but its all bushes fault

bushs fault for the world economy


blind ideology so blind facts dont matter.

Originally posted by Indigo5
I have a question for Obama haters...

Must you always lie when Attacking the President?

The Bush Administration tried desperately to fast-track this loan.

I have a question for you.

Who the hell is the President right now and who signed off on the deal?

reply to post by Vikus


who indeed who?

oh i know!!!!

Barrack "governemnt is the savior of the people" obama