Archive of posts tagged loan guarantee program

Crony Capitalism: Obama Fundraiser Pushed Administration for Solyndra Deal – And Won

Steven J. Spinner, a high-tech consultant and energy investor who raised at least $500,000 for Obama, pushed the Department of Energy to grant the $500 million loan to now bankrupt Solyndra.

Why is Obama and the Democrat party bowing down to their fundraisers at every opportunity?

Could it be because they know the Democrats are going to be in a world of hurt afte the 2012 elections, and want to keep the corrupt money flowing to their party? We think so.

An elite Obama fundraiser hired to help oversee the administration’s energy loan program pushed and prodded career Department of Energy officials to move faster in approving a loan guarantee for Solyndra, even as his wife’s law firm was representing the California solar company, according to internal emails made public late Friday.

“How hard is this? What is he waiting for?” wrote Steven J. Spinner, a high-tech consultant and energy investor who raised at least $500,000 for the candidate before being appointed to a key job helping oversee the energy loan guarantee program. “I have OVP [the Office of the

…

...Continue Reading Crony Capitalism: Obama Fundraiser Pushed Administration for Solyndra Deal – And Won

Obama Admin Ignored Warnings of Solyndra Problems BEFORE Payment of Loan

Now we learn that Obama was actually warned about the problems with the now bankrupt solar-panel company, Solyndra, BEFORE the $500 million loan was handed out!!

Obama chose to ignore the warnings though, and push through the loan, as a thank you payback to his major supporters, who were shareholders and executives in the failed solar-panel company.

For anyone who watches corrupt liberal media to get their news, here is some more info that you will not get from your stations.

Solyndra’s loan application was filed during President Bush’s term, but the Solyndra loan was denied by the Bush administration less than two weeks before Bush left office on January 9, 2009. As soon as Obama took office, his administration reversed the denial of the loan and put the ill-advised loan, which had thrown up many red flags that the Bush administration caught, but the Obama administration ignored, on a fast-track to receive the same loan that the Bush administration denied days before.

A Congressional probe shows that before President Bush left office, Bush’s Energy Department credit committee voted against …

...Continue Reading Obama Admin Ignored Warnings of Solyndra Problems BEFORE Payment of Loan