Is Solyndra Obama's Whitewater?
- Thread starter Lue C Fur
- Start date
moreluck
golden ticket member
Taxpayers go to the back of the line..........
Via Beltway Confidential:
Via Beltway Confidential:
The House Energy and Commerce Committee released a report today on the Energy Department’s decision to subordinate taxpayers to private investors in the ill-fated Solyndra project. That is, the taxpayers would have to wait in line behind the private investors and let them recoup all of their losses first. Only after that could taxpayers could get any money back – assuming there would be any money to recoup at this point. In this case, that would be a reported $328 million of the $335 million federal loan guarantee to Solyndra.
This is significant because the plain language of the department’s own rules for loan guarantees states that taxpayers must not be subordinate and instead must come first. The committee’s report argues that Energy Department officials made a spur of the moment decision to violate this standard as part of a desperate attempt to keep the company afloat, then scrambled after the fact to justify their action. [...]
Administration officials have argued it was necessary to attract private capital to support the company. But they may have had another motivation. Argonaut is the investment vehicle The George Kaiser Family Foundation.
Through it GKFF owned a 35% stake in Solyndra. Despite being called a foundation, GKFF is not a nonprofit in the conventional understanding of the term, but an exotic variation that allows the wealthy to park their assets tax-free. The foundation’s namesake is a major fundraiser of President Obama’s. He was often a guest in the White House and even discussed Solyndra with officials there.
This is significant because the plain language of the department’s own rules for loan guarantees states that taxpayers must not be subordinate and instead must come first. The committee’s report argues that Energy Department officials made a spur of the moment decision to violate this standard as part of a desperate attempt to keep the company afloat, then scrambled after the fact to justify their action. [...]
Administration officials have argued it was necessary to attract private capital to support the company. But they may have had another motivation. Argonaut is the investment vehicle The George Kaiser Family Foundation.
Through it GKFF owned a 35% stake in Solyndra. Despite being called a foundation, GKFF is not a nonprofit in the conventional understanding of the term, but an exotic variation that allows the wealthy to park their assets tax-free. The foundation’s namesake is a major fundraiser of President Obama’s. He was often a guest in the White House and even discussed Solyndra with officials there.
moreluck
golden ticket member
Lue C Fur
Evil member
Another bankrupt solar firm that Obama spent our money on...what a friggin idiot. I guess it was another campagin donor.
Solyndra, the sequel? Bankrupt solar firm, DOE facing scrutiny over panel problems
Read more: Solyndra, the sequel? Bankrupt solar firm, DOE facing scrutiny over panel problems | Fox News
Solyndra, the sequel? Bankrupt solar firm, DOE facing scrutiny over panel problems
Read more: Solyndra, the sequel? Bankrupt solar firm, DOE facing scrutiny over panel problems | Fox News
Do you even know what Whitewater was? This comparison is not even up to the usual low standards of The Great Deceiver.
moreluck
golden ticket member
That's history.......do you give today's news a try?
Lue C Fur
Evil member
Im sure Roadrunner2012/TOS/MrFedex checks out todays news...Bill Maher, Jon Stewart, and the Obama Channel...MSNBC.
M
MenInBrown
Guest
The Great Outsourcer!
