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Apr 12 2024

Solyndra Swindler Continues to Collect Federal Funds

When bad behavior is not punished, it continues. Eighty percent of Obama’s generous green energy loans went to those who had backed him financially. Prominent among these wasteful debacles was Solyndra, which raked in over half a $billion of taxpayer money and soon afterward declared bankruptcy. Because Obama was never held accountable, similar malfeasance continues during his third term. The Regime is still giving our money specifically to the same guy who ran the Solyndra scam:

The Biden administration is giving $6.6 billion to a semiconductor project run by the former CEO of Solyndra, the failed solar energy company at the center of an Obama-era scandal over government misspending.

The money is going to the Arizona subsidiary of Taiwan’s TSMC to make chips in Phoenix.

[TSMC Arizona President Brian] Harrison, who is overseeing TSMC’s projects in Arizona, said he was involved in securing the federal financing in a media interview last August.

It is not competence that makes you valuable in today’s business world. It is what friends you have.

Regarding Solyndra under Harrison’s tenure,

An inspector general investigation found that Solyndra executives provided misleading information to Department of Energy officials during the loan negotiations in 2009 and later “while drawing down loan proceeds.” The IG report said the “actions of certain Solyndra officials were, at best, reckless and irresponsible or, at worst, an orchestrated effort to knowingly and intentionally deceive and mislead the Department.”

Deceiving people is easy when they are eager to pay you off for helping to put them in power.

Outrage over Solyndra forced Obama to scale down the DoE’s loan programs office — but only temporarily:

[N]ow the Biden administration has revived and expanded the office—giving it a massive $400 billion budget for green energy loans.

This isn’t a government. It is a looting spree.

On a tip from R F.


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