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Sep 09 2011

Solyndra Scandal Opens Door on Green Energy Corruption

With the FBI raiding the offices of Obama’s crony capitalist financiers at Solyndra, we may finally be moving toward acknowledging the obvious: “green energy” is a multi-$billion swindle warranting criminal prosecution. From the Wall Street Journal:

Congress has been investigating the company, which received a $535 million government loan guarantee in March 2009 and announced August 31 that it is filing for bankruptcy. Yesterday’s FBI raid is the first hint of a larger government probe, which is being conducted in cooperation with the Department of Energy’s Inspector General.

Let’s hope Gregory Friedman doesn’t meet the same fate as Gerald Walpin, an Inspector General who took his job a little too seriously for Barack Hussein’s liking.

Solyndra was once a leading light, if you will, of the Obama Administration’s signature “green jobs” dreams. … Solyndra never did turn a profit and laid off employees in November. But in February the company renegotiated its loan guarantee — with a hitch. Under the new agreement, Solyndra’s investors would loan the company $75 million but be first in line on repayment in the event of bankruptcy, in front of taxpayers.

If you’re feeling déjà vu, maybe you’re thinking of the way the Obama Regime violated the law to put the screws to secured creditors on behalf of the usual Big Union beneficiaries when it nationalized Chrysler.

One of Solyndra’s biggest backers is the George Kaiser Family Foundation, whose namesake is an Oklahoma oilman who bundled campaign contributions from multiple sources for Mr. Obama’s 2008 campaign. … [T]he Daily Caller reported yesterday that “Solyndra officials and investors made no fewer than 20 trips” to the White House between March 2009 and April 2011 and that Mr. Kaiser also made a few visits.

What’s another half a $billion wasted? It’s only our money, not Obama’s. The important thing is that Kaiser raised $50,000 for Obama’s last campaign.

Meanwhile, Bernie Madoff sits in prison, wondering why he didn’t go into politics.

money-down-drain

On tips from wingmann, Mary, Shawn, G. Fox, and J. Hat tip: Sad Hill News.

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  • Spurwing Plover

    Bird maiming windturbines,unrelable solar panals Green energy is a bust

  • http://nobarack08.wordpress.com nobarack08

    now you see where the Obama $1 billion re-election fund is coming from. Absconding with false loans and kick-backs, while the public pays for the defaults.
    Where is the 535 Million? offshore of course.

  • J

    This is f**king hilarious.

  • Link Master
  • Link Master
  • Link Master
  • Son of Taz

    J I have to disagree with you. It would be hilarious if it involved Chicom money. Unfortunately, it’s our money they flushed. So, if there’s humor in this stinkin’ corruption, I just don’t see it this time.

    Oh and in Massachusetts, Evergreen Solar took several million in tax breaks in exchange for creating jobs. Problem is, the jobs they created are in China. That’s a green energy deal engineered by Obama Lite, Gov. Duval Patrick.

    Yeah, they’re quite a bunch of turds.

  • Uneducated Moonbat

    CORPORATE GREED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  • J

    Taz, I understand and appreciate your position. But I’m an older chap so I’ve developed a bit of a penchant for black humor over the decades.

    What I find hilarious is the symbology of it all.

    This goes back to the Carter administration, who installed solar panels on the White House, and touted the solar panel as one of the few sacred ways to generate power with the blessing of Gaia.

    Reagan had them removed.

    The Collective has been bristled by this purely symbolic nonsense ever since.

    Fast forward to 2008. Obama gets elected in part on a platform of pushing Green Energy pixie dust like Carter’s beloved solar panels.

    He pushes Solyndra, actually giving speeches at the plant touting it’s 21st Century merits. Obama and White House officials sat in Solyndra meetings,and Solyndra officials made numerous White House visits making them undeniably connected.

    Moonbats applaud stealing money from private citizens to subsidize corporate welfare for Solyndra because it will create Green Jobs, and provide a sustainable energy future for America.

    Solyndra then takes the money, only to close their plant and laid off American workers because according to Solyndra CEO, “Regulatory and policy uncertainties in recent months created significant near-term excess supply and price erosion,” files for bankruptcy, and is now under investigation, being raided by the FBI, and may implicate officials in the very White House that champions the ideology behind the symbology of the solar panel for their very championing of it.

    Essentially, the symbol of the solar panel as the green Earth savior, has been fundamentally transformed into the symbol of the failure inherent in leftist ideology.

    It’s delicious.

  • KHarn

    In case no one has said this yet:

    SOLYNDRA GREEN IS PEOPLE!!

  • Link Master

    Solyndra officials made numerous trips to the White House, logs show

    http://dailycaller.com/2011/09/08/solyndra-officials-made-numerous-trips-to-the-white-house-logs-show/

  • Hail The Amberlamps!

    Is it that the Obamarrhoids are profoundly stupefied by Marxist ideology, kleptocratic, or just plain educated beyond their intelligence?

    And surely the Yankee Media will cover this corruption in depth.

    (That’s sarcasm for you Canadian Mental Patients denied access to the U.S. by Jiant Lesbianatano. Sarcasm, not to be confused with the disease for which you take the big pink pills and slobber in the corner all day.)

  • Patriot

    @KHarn- LOL!

    Gee willikers, wouldn’t be surprised at all if we find some of dear sweet sanitized released and repackaged Van Jones’ grubby green paw prints on this one.

  • tim

    Solyndra showed 100 million in revenues for 2009 and 140 million for 2010 now bankrupt in 2011 after 535 million dollar stimulus?

  • Patriot

    “.. you take the big pink pills and slobber in the corner all day”

    Hmm.. that might actually be the best way to ride out the remainder of Dear Leader and the demorats term through 2012. I’ll have what they’re having please!

  • chuck in st paul

    Patriot says: – September 9, 2011 at 4:12 pm

    Naw… One needs to consume copious amounts of Val-U-Rite vodka and then go hobo hunting. That is if you can make it to the door. (*grin*)

    [ and what the hecks with these damn math tests?? once I get past the half way point in that sweet bottle of fermented grapes this becomes a serious challenge damn it ]

  • Sam Adams

    This raid is a very good way for our Justice Department to snatch up all the evidence and keep in real safe.

    It also has the advantage of interrupting any congressional investigation.

    And no: Eric Holder would never taint or lose any of the evidence.

  • Contessa61

    Another $852 million of taxpayer money handed over to Genesis Solar Project in California las week.

  • Profiler

    Solyndra… Solyndra??? Solyent??? Solyent… Soylent!!! ITS PEOPLE!!!

    Soon they’ll be breeding us like cattle! You’ve got to warn everyone and tell them! Soylent green is made of people! You’ve got to tell them! Soylent green is people!

  • SPURWING PLOVER

    Go after those bird maiming windturbines for harming protected species

  • Ummah Gummah

    .

    Stands to reason that these inbred ‘royals’ would get into Warmology as a way of conserving their privileges.

    They obviously feel that their future lies with moslems and green fascists.

    .

  • Link Master
  • Link Master
  • Link Master

    Flashback: White House Video of Sec. Chu and VP Biden at Solyndra Groundbreaking

    http://www.verumserum.com/?p=29012

    Flashback: Official White House Video Praises Solyndra as a Recovery Act Success Story

    http://www.verumserum.com/?p=29007

    The Human Side of the Solyndra Collapse

    http://www.verumserum.com/?p=29078

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