E-mails show Energy Department was moving toward second loan for Solyndra

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    Oct 06, 2011 2:01 PM GMT
    Woeful disregard for taxpayer dollars. I hope taxpayers remember that Obama is on the record as saying he has no regrets with how this turned out. Reinforcing this view, a few days ago, the DoE released several billion dollars more in loans to politically connected firms and the current Administration wants more money for "stimulus".


    Newly released e-mails show the Obama administration’s Energy Department was poised to give Solyndra a second taxpayer loan of $469 million last year, even as the company’s financial situation grew increasingly dire.

    The department was still considering providing the second loan guarantee to the solar-panel manufacturer in April and May 2010, at a time when Solyndra’s auditors were already warning that the company was in danger of collapsing.

    Details of the plan are revealed in e-mails released this week by Democrats on the House Energy and Commerce Committee, which is investigating the original loan. On Wednesday, the probe intensified as committee Republicans requested that the White House provide all documents, dating back to President Obama’s inauguration, that would show communications between staff members and other officials regarding Solyndra’s original $535 million federal loan guarantee.

    Republican leaders said that documents obtained in recent weeks show that Obama’s “closest confidantes” monitored the loan, and that his campaign donors offered advice on the company.

    “Documents reveal a startlingly cozy relationship between wealthy donors and the president’s confidantes, especially in matters related to Solyndra,” Cliff Stearns (R-Fla.), chairman of the committee’s investigations panel, said in a statement.
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    Oct 06, 2011 6:48 PM GMT
    Shhhhhhh..... icon_wink.gif