Though grudgingly provided and universally redacted, documents subpoenaed by Congress from the White House and the Office of Management and Budget now reveal that Barack Hussein Obama himself was responsible for manufacturing the loss of $535 million taxpayer dollars in the 2011 Solyndra bankruptcy.
In 2010, solar panel manufacturer Solyndra Inc. received $535 million in loan guarantees for “innovative technology” under the terms of Barack Obama’s federal stimulus plan. The fact that a Price Waterhouse audit filed earlier that year with the SEC showed Solyndra had lost $558 million during its first 5 years in business, boasted negative cash flow, had no profitable years and featured a “seriously flawed” business model didn’t seem to matter to White House Chief of Staff Rahm Emanuel who delighted Obama’s left-wing, environmentalist supporters by choosing the company as the president’s favorite green energy producer.
But by early 2011, Solyndra was very much up against it. Even a new infusion of cash and very favorable restructuring of existing loans would not afford the virtually bankrupt company much chance of survival.
In February of that year, OMB analyst Kelly Colyar informed the Obama Administration that any attempt to rescue the solar panel manufacturer would be both futile and likely to put at extreme risk any additional tax dollars the DOE might invest in the company. In fact, it was estimated that even an immediate default would cost taxpayers some $141 million. Were that default to be delayed, the cost could rise to 3 or 4 times that initial estimate.
But the Department of Energy was intent upon restructuring the Solyndra loans, “…illegally subordinat[ing] taxpayers in case of default.” According to the terms of the restructured debt, private investors would recoup their investments first, forcing taxpayers to fight over the bare remains.
In an August, 2011 email, Colyar reminded the DOE that one month prior to restructuring the loan, the Office of Management and Budget had warned the Department about Solyndra’s “…ability to meet their projections, subordination of the DOE loan and the likelihood that Solyndra’s (private) investors may not ultimately provide the additional capital the company required to continue operations.” And of course, the OMB was right. Solyndra went spectacularly belly-up in mid-August, paying off its private investors while putting taxpayers on the hook for over $500 million! Coincidentally, one of the comfortably bailed-out private investors was George Kaiser, a large donor and bundler of campaign cash for—Barack Obama.
Today, the most important part of that August email reveals that the OMB had voiced its concerns not only to the Department of Energy, but directly to the White House! Colyar wrote that “the issue was discussed with the NEC and the Chief of Staff;” that is, Barack Obama’s White House Chief of Staff, Bill Daley. Daley therefore KNEW that taxpayer investments had been illegally subordinated to those of Obama friend and contributor George Kaiser.
What are the odds that Daley would keep the fact of this proposed, illegal restructuring to himself rather than get an official go-ahead from Barack Obama? Can anyone imagine Daley taking it upon himself to make a $535 million decision which could easily land him in a federal prison?
The Colyar email makes it obvious that Obama engaged in a $535 million conspiracy of crony capitalism, personally approving the means by which one of his most generous campaign contributors was saved a massive investment loss. Naturally, this news broke over the weekend. Will Mitt Romney and congressional Republicans make certain a predictably reluctant media covers the story?
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Cronyism and corrupt politics. Simply crooked and should be charged for fraud and racketeering. Your tax dollars and mine going to his buddies to shore up their mission.
The reason no one does anything is because if they do they will be called "racist" and this corrupt Administration knows that. If this was a Republican president who has done what Obama has done there would be a ton of lawsuits brought up against this Administration, but not OBAMA… he can not be TOUCHED and that is exactly what is happening. GOD HELP OUR COUNTRY.
Impeachable offense, absolutely. Here's the problem though, besides the fact that our Republican controlled House of Representatives has the spine of a jelly fish, even if the House voted to impeach Obama, Harry Reid would kill it in the Senate. Nothing and I mean nothing will be done until Harry is gone, gone, gone.
Why is it that our elected officials (congress) continually state that there are/have been "illegal" practices by the adminstration, however no one takes action against illegal activity. Everyone is aware that illegal activity/actions have occurred and are still occurring, however no one does anything about it. We can NOT ACCEPT illegal activity by anyone. Therefore we must conclude that all of our elected officials are complicit, and should be charged with (high) crimes against the citizens of the US. It is time that WE take action against them all.
You are absolutely right Vonz. It's like Pelosi said, which is the only thing she's ever said that I agree with, "We have to drain the swamp". I agree with her except I think she's part of the stench and they all need to go.
In order for We American's to hold our rightful place as stewards of Our Constitution and Our rights as a free and sovereign Nation, we must remove the weak links (those who are doing nothing about obama's corruption) among our elected servants. All who are elected are only to serve We Americans and only Our Constitution. If those elected into higher office can not serve their Country, remove them by impeachment, recall and the ballot box. Because of the very corrupt nature of this administration and even their reputation at Our voting places, we must insure equal protection at every single voting place in America. Be very watchful for thugs, union interference, and dead voters who come to life during election time. Observe and report any suspicious activities at the polls.
This corrupt, deceitful, deceptive & criminal person, who holds the title of POTUS should have been removed from office over 3yrs ago. Instead, he has been allowed to cripple our Nation from National Security to Jobs to the Economy without rebuke from elected officials.
Obama has "RAPED" our taxpayer dollars, funded terrorist organizations around the world, & used our Military to remove Dictatorships & replace them with terrorist jihadist groups such as Humas, the Muslim Brotherhood, & Al Queada ..!!
Never in our history, has such Ant-Americanism from within been so openly tolerated.!!! Obama & his communist democrat cronies must not only be removed, they must be prosecuted for "Crimes Against America & the American people"…!!!
Removed from office and jailed! "
" AND THE CONGRESS, THE SENATE, EVERYBODY DID NOTHING
BHO is nothing more than a common criminal. He has stolen our money, drowned u sin debt and made the USA the laughing stock of the world. Clean house, VOTE for Romney and all Republican candidates who will stand up for America! Time for talking is long since passed.
If I were Obarry I would be afraid to go outside just in case a "stray bullet" parted my hairline…
We can only hope and pray someone who has the accessibility would take such a chance.
I know one thing. They would be a NATIONAL HERO!
Ahmen
They know that and about many other anti-American acts committed by this man,"AND THEY DO NOTHING!!"
Problem with someone calling you a racist is it's being racist to do so. If my daddy taught me one thing; well I know he had a reason. A black man is just another man;
however if that black man screws up his name changes. It isn’t racist. It’s just the way life is. Live with it. You got your ways. I got mine. And time will tell just who has fell and who’s been left behind. When you go your way and I go mine.
Now Congress get up off your fat asses & impeach this sorry sack dirty laundry. And do something right for once in your lifetime. God Bless you or God Damn you! Which will it be? Are you men worthy of holding that office with your name on that door. Or shall we tare down these walls & rebuild every stone brick by brick & in the process wall you into a tomb of stone that Vincent Price would even shutter to think of.
I shutter to think if this man gets re-elected, he has done a lot damage to our country, and congress just let him get away with it. This is the most important election ever, we must vote this man out of office and fight for our country before we loose it to a dictator. And vote out these traitors that are supporting him, such as hillary, nancy, holder and reid these are the main ones. May God Help Us, we are in trouble
This half black bandit we call president gave money to Solyndra type projects because in return he received kickbacks from the bundlers who were in charge of these crooked energy deals.Have we heard anymore about Jon Corzine one of Obuttholes biggest bundlers.This man got off scott free.
I do not beleive for one second that this was an “accident”! I beleive most sincerely and whole heartedly, that this Solyndra debacle was done deliberately, and with malicious intent towards the American people. It was done in order to line the pockets of many crooked, lying sons of bitches on Capitol hill. They KNEW it was going to be a total bust from the get go, and they knew how to make it WORK FOR THEMSELVES! They also knew that the American taxpayer would be left holding the bag aftewards. This sorry band of thieves and America haters have done more than the Solyndra theft, they have deliberately, and willfully stolen as much as they can steal from us since the day this baboon was elected! And they will steal from us, rob us, and rape us again, even more so, and with more viciousness and malice, should this BABOON AND HIS CONGRESS OF BABOONS BE RE-ELECTED!!!!!! THAT, you can bet everything you may still own, on! BET THE FARM, THE CAR, THE SUV, THE TV YOU OWN, YOU WOULD WIN! Because this BABOON IN OFFICE IS EVIL AND WILL STOP AT NOTHING TO REACH HIS GOAL OF BEING KING OF AMERICA!!!!!! A REAL EVIL, DYED IN THE WOOL, EVIL KING!!!!! It wouldn’t surprise me if he actually had a CROWN designed if he manages to win! But, if he does, then God had better be on our side, because in the case of him winning this election, war, WAR WILL COME TO AMERICA, ON OUR OWN SOIL! Once again……….what an awful thought…………
Is anyone surprised?
ARD NY LOS = SOLYNDRA
ARD= TILL OR SCRATCH THE MASSES FROM NEW YORK TO LOS ANGELES, YES THEY TILLED OUR MONEY FROM NEW YORK TO LOS ANGELES IN THE BIGGEST SCAM EVER! DISGUSTING
The whole world is being deceived. Satan is in reign, open your heart to Almighty YHWH, Creator of all things and He says 'all' must come to repentance, listen to the Word, it gives life everlasting!!
Obama has been founf Guilty of Organising Fraud by supporting & promoting the funding of these Solar companies.
I, and ten million people want a Private Audit of his Finances including all his investments from other people and all his CASH hidden offshore?? That should also include a large majority of congress, senate, DOJ, Military officers. They go into any of these services with a minimum amount of money and become multi millionaires, pay no tax, no insurance, travel the world for free, charge the taxpayers $1000s of taxpayer dollars for their lunches with their Free Loading Friends? Begin with Michelle Obama weho is a Free Loader herself!!!!!!!!!!!!!
it's not only obummer, but ried ,botox queen and her brother in law (part of the company). they made millions off it