So much for Mr. Clean Jeans


ABC News:

Investigators Probe White House Role in Massive Energy Loan

House investigators said they have uncovered evidence that White House officials became personally involved in an Energy Department review of a hot-button $535 million loan guarantee to the now-failed California solar company Solyndra.

The allegation surfaced in a letter House Energy Committee Chairman Fred Upton (R-Mich.) sent to the White House Thursday night, saying he planned to accelerate efforts to understand an investment deal that may have left taxpayers out half a billion dollars.

“We have learned from our investigation that White House officials monitored Solyndra’s application and communicated with [Department of Energy] and Office of Management and Budget officials during the course of their review,” the letter says.

Thursday’s letter, which calls on the White House to turn over correspondence between administration officials, Solyndra and its investors, presents the most pointed suggestion that the White House had direct involvement in the financing.

“How did this company, without maybe the best economic plan, all of a sudden get to the head of the line?” Upton told ABC News in an interview this week. “We want to know who made this decision … and we’re not going to stop until we get those answers.”

[…]

While Energy Department officials steadfastly vouched for Solyndra — even after an earlier round of layoffs raised eyebrows — other federal agencies and industry analysts for months questioned the viability of the company. Peter Lynch, a longtime solar industry analyst, told ABC News the company’s fate should have been obvious from the start.

“Here’s the bottom line,” Lynch said. “It costs them $6 to make a unit. They’re selling it for $3. In order to be competitive today, they have to sell it for between $1.5 and $2. That is not a viable business plan.”

Other flags have been raised about how the Energy Department pushed the deal forward. The Center for Public Integrity’s iWatch News and ABC disclosed that Energy Department officials announced the support for Solyndra even before final marketing and legal reviews were in. To government auditors, that move raised questions about just how fully the department vetted the deal — and assessed its risk to taxpayers — before signing off.

[…]

Republicans in Congress have raised questions for months about the Energy Department’s decision to make Solyndra the poster-child for the green energy loan program. They expressed concern that so much federal money was headed to a company whose key investor was George Kaiser, an Oklahoma billionaire who raised more than $50,000 for Obama’s 2008 presidential campaign. Since May, Kaiser has declined interview requests.


“Pay to play” is the Chicago way. Why did all those fat cats donate so much money to a rookie senator anyway?

If you think the Republicans will help sweep this under the rug the way Nancy and Harry did for George the Lesser you’re dumber than I look.


UPDATE:

Verum Serum:

Solyndra received over half a billion in loans from the Treasury at extremely low interest rates, allowing it to build a new manufacturing facility. Congressional investigators have caught a whiff of scandal as the rates given the company were extremely low and neither Treasury or OMB will provide documents to justify them.

[…]

Congress requested documents related to the Solyndra loan from the Office of Management and Budget. After three months and zero documents produced, a hearing was scheduled. An OMB deputy director was asked to attend but didn’t show up, claiming a scheduling conflict. Finally, OMB allowed that congressional staff could view some of the requested documents on site, but when they arrived in mid-July not all the documents were available and some that were made available had been redacted. Specifically, the information on risk ratings had been lined out. Given that this was exactly the information congress had been looking for the entire exercise was becoming a waste of time. At this point the committee held a hearing to consider issuing a subpoena for the documents. The argument seems to have broken on partisan lines with Rep. Waxman arguing against a “fishing expedition.” Now hat Solyndra has gone belly up, perhaps a little fishing is a good idea.


I’m sure the progressive blogosphere will be all over this just as soon as they’re done investigating “Fast and Furious.”


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17 Responses to So much for Mr. Clean Jeans

  1. myiq2xu says:

    Legal Insurrection:

    Valerie Jarrett-managed slum apartments to be torn down with federal cash
    Valerie Jarrett, a close friend of the Barack and Michelle Obama is the former CEO of Habitat Company, which managed Grove Parc, a federally subsidized apartment complex on Chicago’s South Side that can be accurately described as a slum. Jarrett is now a senior adviser to the president.

    On Wednesday with great fanfare the awarding of a $30.5 million federal grant to revitalize Grove Parc–by tearing it down–was announced.

    The irony is thick here. Jarrett’s Habitat runs Grove Parc into the ground, and now the federal government funding its demolition and the building of its replacement.

    Mayor Rahm Emanuel, Housing and Urban Development Secretary Shaun Donovan, Sen. Dick Durbin, and US Rep. Bobby Rush attended the Grove Parc ceremony. Jarret was not there. In fact, no mention of her role in mismanaging the unhappy homes was mentioned by the Chicago Sun-Times or the Chicago Tribune.

    • DandyTiger says:

      Valerie “gay is a lifestyle choice” Jarrett is the typical partner in the Obama Chicago Machine, not the exception. Got hope?

  2. Dario says:

    The Rottweilers are after The One.
    I read:

    If you send a vicious pack of Rottweilers after someone while he is on his way to the store, do you then blame him for going cautiously, only a few feet at a time, or even for getting bitten? Of course you don’t. And yet, that is exactly what the American people have done to President Obama, setting the rabid pack of Republican right-wingers on his trail after the last election and then blaming him for not steaming uninterruptedly ahead.

    • myiq2xu says:

      Rottweilers are racists

    • myiq2xu says:

      From your missing link:

      Seeming much-diminished after months of bruising battles with a recalcitrant GOP, President Obama has reached a new low in the polls. The public’s overinflated expectations of a superhero leader have been thwarted by the reality of small-minded ignorance and self-delusion from his foes. Astrologically, this can clearly be seen in the Obama/US composite chart. We are now in the third and final pass (8/25 to 9/4/11) of a nine-month transit of Saturn crossing the composite Neptune/Moon opposition. This Neptune/Moon aspect in the composite chart describes the inclination of Americans to have an exaggerated and unrealistic understanding of the president. While his supporters have tended to see him through a lens of starry-eyed expectation, his detractors consistently see him as little short of the personification of the destruction of America. The current Saturn transit is bringing disappointment and feelings of loss and betrayal, especially to those who harbored larger-than-life assumptions.

      • Dario says:

        I don’t know why the “public’s overinflated expectations of a superhero leader” was formed.

        I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal. — June 3, 2008

  3. dm says:

    Gotta say…this has become my favorite blog. I get more chuckles from your selection of topics and the observations that follow are priceless. I love it…please know how many of us out here truly appreciate your time and effort.

    My comment about all of this…I compared BO to Nixon before he was even elected. I think my conclusion has been proven correct countless times since he’s been in office.

  4. ralphb says:

    OT but too funny. A PSA for Barack Obama (from JohnWSmart)…

  5. soupcity says:

    But…but… Solyndra made such a wonderful (535 million dollar) “setting for the topic” of his green jobs speech in May 2010.

  6. Mary says:

    This is why I don’t trust the Infrastructure Bank. While it may be a good idea, it’ll be the same Chicago cronyism Obama has shown in the car industry bailouts/closing of dealerships, in the shovel-ready (must be union labor), in every doling out of federal money to states/donors that benefit him.

    I’m DONE playing that game. The country needs something/someone better, period.

    • Dario says:

      Honk! It used to be that there was more honesty in government. The GAO was an independent body that audited all the government departments, and all contracting was done with bids and without political influence, but not now.

  7. Pingback: Booberama! Boobnanza! Boobapalooza! - After August 2011 Can Obama Top His Booberies????? - Yes He Can — Hillary Is 44

  8. teresainpa says:

    looks like his corrupt practices may finally come home to roost.

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