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2011-09-14 Home Front: Politix

Project Solyndra: In the Spotlight -- House Hearing on Wednesday

On Fox Special Report tonight, Jonah Goldberg reminded us all of the Enron doings. He stated, "I could never find any connection of Bush with Enron, yet, he got tagged with the financial crisis."
Mod Note: Thanks Beavis for the correction for Enron

ME: Solyndra has Obama's name all over it."
Sorta like the pic I found at Ace...
Republicans hope to shed more light on the Solyndra loan scandal tomorrow, when the House Energy and Commerce Subcommittee on Oversight and Investigations will hear testimony from two White House officials involved in the now infamous $535 million loan guarantee to the now-defunct solar-panel manufacturer once hailed by President Obama as a "true engine of economic growth . . . leading the way toward a brighter more prosperous future."

In particular, the committee will seek to determine the extent to which Solyndra's financial ties to major Democratic fundraiser George Kaiser may have played a role in the company's receiving federally backed funds. According to a memo circulated by committee Republicans, the hearing will also examine the following questions:

Did the Department of Energy (DOE) and the Office of Management and Budget (OMB) conduct a proper review of the Solyndra application?

Should the DOE and the OMB have anticipated some of the financial problems that Solyndra experienced, which resulted in bankruptcy?

Did the DOE and the OMB take adequate steps to protect taxpayers when it negotiated the terms and conditions of the Solyndra guarantee and its restructuring?

Much more at site -- Click to follow this second Rantburg Project (ok so I'm taking some liberties here.... this one is gonna be hard to hide)

Posted by Sherry 2011-09-14 00:56|| || Front Page|| [11138 views ] Top

#1 Obama - putting our money where his mouth is.

Posted by Bobby 2011-09-14 05:58|| 2011-09-14 05:58|| Front Page Top

#2 Does Exon=Enron?

Posted by Beavis 2011-09-14 06:02|| 2011-09-14 06:02|| Front Page Top

#3 Worse and worse: New e-mails show White House rushed OMB to approve Solyndra loan

Posted by Eohippus Phater7165 2011-09-14 06:50|| 2011-09-14 06:50|| Front Page Top

#4 The donks are picking winners and losers--crony capitalism. They need to back off the market place and quit fiddling with it and destroying it. Excessive regulation has about knocked us out of any competitive position with other countries. Couple that with a tax code which punishes businesses and you have what we have--stagnation, uncertainty, and high unemployment.

Posted by JohnQC 2011-09-14 09:50|| 2011-09-14 09:50|| Front Page Top

#5 Don't have a link, but an ABC story says the loans were first considered under the Bush administration...

Which rejected them, predicting the company would go bankrupt right about the time it did.

Once Obama got into office, the loans were "reconsidered" and pushed through over the objections of the sane and non-criminal.

Posted by Rob Crawford 2011-09-14 09:55|| 2011-09-14 09:55|| Front Page Top

#6 Does Exon=Enron?

Yea -- I knew something about that didn't look right
and I should have been in bed!

Posted by Sherry 2011-09-14 10:54|| 2011-09-14 10:54|| Front Page Top

#7 Bush admin did turn down the loan

The White House also noted to ABC News that the Bush administration was the first to consider Solyndra's application and that some executives at the company have a history of donating to Republicans. The results of the Congressional probe shared Tuesday with ABC News show that less than two weeks before President Bush left office, on January 9, 2009, the Energy Department's credit committee made a unanimous decision not to offer a loan commitment to Solyndra.

Even after Obama took office on Jan. 20, 2009, analysts in the Energy Department and in the Office of Management and Budget were repeatedly questioning the wisdom of the loan. In one exchange, an Energy official wrote of "a major outstanding issue" -- namely, that Solyndra's numbers showed it would run out of cash in September 2011.

There was also concern about the high-risk nature of the project. Internally, the Office of Management and Budget wrote that "the risk rating for the project sponsor [Solyndra] seems high." Outside analysts had warned for months that the company might not be a sound investment.

Posted by Sherry 2011-09-14 11:14|| 2011-09-14 11:14|| Front Page Top

#8 DoE is scrambling to get the money out the door before the Sept. 30 deadline. And here's an interesting choice from the folks at Energy.Gov;

Department of Energy Finalizes $90.6 Million Loan Guarantee to Cogentrix

Some Fun Factoids the DoE neglected to add in their Press release;
Cogentrix is a subsidiary of The Goldman Sachs Group. And for 90 Million tax-payer dollars they estimate that the project will create about 100 construction jobs and 10 operations jobs.

Posted by DepotGuy 2011-09-14 12:05|| 2011-09-14 12:05|| Front Page Top

#9 This is just more corruption for an already too full filing cabinet. This guy is the lawless one.

Posted by newc 2011-09-14 14:47|| 2011-09-14 14:47|| Front Page Top

#10 ABC News on today's Solyndra hearing: Blame It On Bush, Say Obama Officials Republicans pushed back hard against this version of events, unearthing internal Energy Department emails that indicate the panel evaluating the loans had made the unanimous decision to shelve Solyndra's application two weeks before Obama took office.

Posted by Anguper Hupomosing9418 2011-09-14 20:17|| 2011-09-14 20:17|| Front Page Top

#11 As per FOX NEWS AM > IIHC, NASA says that Humanity = Amer Atsronauts? OWG Space/Globalnauts? may begin de facto landing on MARS as early as 2030 [or 2030's decade = 2030-2040]???

First thingys come first - our future OWG-NWO Space Command-Agency must dev a WORLDWIDE/
UNIVERSAL CONSENSUS ON AVAILABLE NATURAL RESOURCES AS AFFECTED BY PERT-ALLEGED, LT "PEMANENT" GLOBAL WARMING + CLIMATE CHANGE.

Posted by JosephMendiola 2011-09-14 21:31|| 2011-09-14 21:31|| Front Page Top

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