Bombshell: Emails Reveal Direct White House Tie to Solyndra Scandal

Originally posted by jibeho
Amazing how you question my comment of the loan restructure to favor investors and yet the Forbes article you cited is titled Solyndra: Pay Some Investors Before Taxpayers In Solar Flame Out.

I don't question your claim that the bankruptcy process will favor Walton and Kaiser for whatever relative pennies are left. I question the claim that it is for political payola purposes.

The proceedings favor both Kaiser (Dem Supporter) and Walton (GOP Supporter) ...not just Kaiser, and it does so because they both chipped in to finance the actual Bankruptcey proceedings and associated legal and accounting expenses to the tune of 4 Million. How much do you think will come of the proceedings?

Originally posted by jibeho
OK Rob Walton's investment manager is involved but is Waltons money?.

Madrone Partners is owned by Rob Walton, Sam Walton's son and is repeatedly described (in articles outside, indepenant of and before of this scandal) as the "investment vehicle" for the Walton family.

It would take some determined and deliberate ignorance to propose that Madrone Partners does not represent the Walton family money.

As its finances deteriorated, Solyndra restructured its debt in February. Argonaut Ventures, which owns 38.99% of Solyndra, led a group

www.forbes.com...

Thanks for the article!!

edit on 22-9-2011 by jibeho because: (no reason given)

edit on 22-9-2011 by jibeho because: (no reason given)

I truncated the excerpt when it became clear you kept reading "Argonaut" and kept missing "led the group" part.

That Groups other largest beneficiary is the Walton Family's Madrone Investments.

Hard to read "payola" in any of this.

Solyndra isn't the only loan connected directly to friends of the White House. I posted this in another ATS thread but it really belongs here...All factual, all brand new.

$50 Million DOE Reinvestment Act Loan Benefits Millionaire James Johnson and 3 Billionaire Friends

Follow the money:

June, 2008 - Senator Obama names Perseus LLC Vice Chairman James A. Johnson to head his committee to select a Vice President. Johnson is also a co-founded Public Strategies, a private consulting firm, with diplomat Richard Holbrooke. Holbrooke was also Vice chairman of Perseus LLC from 2001 to 2008. He was later appointed as a special adviser on Pakistan and Afghanistan, working under President Barack Obama and Secretary of State Hillary Clinton, before is death in December, 2010.

Johnson is well known for his time as the CEO of Fannie Mae from 1991 to 1998 and as the campaign manager for Walter Mondale's failed 1984 presidential bid. In addition, Johnson was a campaign financing “bundler” for the Obama presidential campaign, raising between $200,000 and $500,000 according to the Center for Responsive Politics. Johnson has also been a board member of Goldman Sachs.

July, 2008 - July 14, 2008 - US House Representative Rahm Emanuel introduces legislation that would compel automakers to make 10% of their fleet run on natural gas by 2018. The bill also required major oil companies to install one natural gas pump per gas station by 2018.

August 11, 2008 - The Vehicle Production Group LLC (VPG) a developer of specialty vehicles designed for the taxi fleet market completes equity financing of $160 million. The financing was led by Perseus LLC, a merchant bank and private equity fund management company. Another significant investor is Clean Energy Fuels Corp., founded by billionaire T. Boone Pickens, a major CNG supplier.

Note: The Perseus-Soros BioPharmaceutical Fund, LP was jointly founded by Perseus and Soros Private Fund Management, LLC with $449 million in capital commitments. Billionaire George Soros is Chairman of Soros Fund Management, LLC.

January 2009 – Ron Perelman donates $50,000 to the Obama Inauguration Committee, along with five people with the last name Soros, including George Soros.

On August 26, 2009 - Energy Secretary Steven Chu announced the selection of 25 cost-share projects under the Clean Cities program that will be funded with nearly $300 million from the American Recovery and Reinvestment Act.

The Chicago Area Alternative Fuels Deployment Project receives $15M. The project will deploy 554 alternative fuel and hybrid electric vehicles and install 153 alternative fueling stations throughout the Chicago region.

October, 2009 – AM General, 70% owned by Obama supporter Ron Perelman, is selected as the contractor to build the new MV-1 vehicle by the Vehicle Production Group (VPG).

November, 2010 – Marc D. Klein, co-founder of the Vehicle Production Group LLC (VPG) is named Vice President at Clean Energy Fuels Corp.

May 16, 2011 – Former White House Chief of Staff Rahm Emanuel Becomes Chicago Mayor

March 10, 2011 - U.S. Energy Secretary Steven Chu announced today that the Department of Energy finalized a nearly $50 million loan to The Vehicle Production Group LLC (VPG). The loan will support the development of the six-passenger MV-1, a purpose-built taxi that will have a compressed natural gas (CNG) powered option.

June 23, 2011 – The City of Chicago announces the opening of CNG fueling stations and the growth of CNG vehicles to Chicago's taxi fleet. The fueling stations were in part funded by a Clean Cities grant that provided $800,000. Among the ceremony attendees: Marc D. Klein, Vice President, Clean Energy Fuels; T.Boone Pickens, Co-founder, Clean Energy Fuels Corporation; Michael Levine, CEO, Taxi Medallion Management; Patton Corrigan, Taxi Medallion Management (and a co-founder of VPG LLC).

August 19, 2011 – Chicago’s Rahm Emanuel Announces CNG Airport Taxicab program.

To be eligible, CNG vehicles must have an official Green Taxi Chicago CNG sticker affixed to the vehicle. The six-month pilot program will run from August 4th, 2011 to February 4th, 2012. The Green Taxi Program is a $1 million dollar Clean Cities grant that is set to expire on December 31st, 2011. Through the program, CNG or propane powered vehicles can be reimbursed for up to 100% of the implemental cost, which is between $9,000 and $14,000.

September 21, 2011 - Miami-based Vehicle Production Group (VPG) holds a press conference marking the official launch of the MV-1 at its vehicle contractor AM General in Mishawaka, Indiana where it once built Hummers.

Apparently Rahm is paying back some favors to his and President Obama's old pal James Johnson. This speaks volumes to the President's claim that he is a “middle class warrior”.