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White House advised early Solyndra’s light was going dim
‘Getting business from Uncle Sam’ was key for company
Finances had become so dire at Solyndra in the spring of 2010 as President Obama toured the federally-backed solar panel maker in California that company officials began viewing the government not just as a lender but as a customer big enough to lift the company out of a growing financial hole, according to documents.
“Getting business from Uncle Sam is a principal element of Solyndra’s channel strategy,” one investor wrote in an email months after Mr. Obama’s May 2010 tour of the now-bankrupt company, according details of an investigative report Thursday by Republicans on the House Committee on Energy and Commerce.
The now bankrupt company’s founder, Chris Gronet, “spoke very openly to Obama about the need for installation of Solyndra’s rooftop solar panels on U.S. government buildings,” Tom Baruch, founder of CMEA Capital, an investor, wrote to another Solyndra official. ...[continues]
Originally posted by randomname
instead of actually working hard to make solar panels affordable and efficient that they are a cheaper alternative to electricity.
Yesterday, ABC News dropped the bombshell that Bush era Energy auditors actually nixed the loan as unsound, and that Obama OMB staffers raised similar concerns upon their own evaluation. The White House's political team seemed to disagree, putting the deal on a "fast track." Mere days later, the massive government loan to the unstable "green" poster-child -- backed by major Obama donor cash -- was fortuitously approved.