red states rule
09-17-2011, 02:25 AM
While Obama is out making his never ending speeches aginist the rich and corporate welfare, he gave half a billion taxpayers dollars to a company he knew was in trouble. He did not care if the taxpayers money would be lost - he will simple ask for MORE money to cover any losses
But advisors were worried how it could hurt Obama's re-election efforts
Shows what the administrations REAL priorities are
WASHINGTON (AP) — White House officials discussed the political ramifications of a possible default by a troubled solar energy company that received more than $500 million in federal loans, newly released emails show.
Emails released Thursday night show that Obama administration privately worried about the effect of a default by Solyndra Inc. on the president's re-election campaign.
"The optics of a Solyndra default will be bad," an official from the Office of Management and Budget wrote in a Jan. 31 email to a senior OMB official. "The timing will likely coincide with the 2012 campaign season heating up."
The email, released by the House Energy and Commerce Committee as part of its investigation into the Solyndra loan, showed that Obama administration officials were concerned about Solyndra's financial health even as they publicly declared the solar panel maker in good shape.
Solyndra, which received $528 million in federal loans under the stimulus law, declared bankruptcy late last month and laid off 1,100 workers.
The Silicon Valley company was the first renewable-energy company to receive a loan guarantee under the 2009 stimulus law, and the Obama administration frequently touted Solyndra as a model for its clean energy program. President Barack Obama visited the company's Fremont, Calif., headquarters last year.
Even as Obama praised the company's plans to hire more than 1,000 workers, warning signs were being sent from within the government and from outside analysts who questioned Solyndra's viability as a "going concern."
At least three reports by federal watchdogs over the past two years warned that the Energy Department had not fully developed the controls needed to manage the multibillion-dollar loan program that provided more the loan to Solyndra Inc., a now-bankrupt solar panel manufacturer.
http://news.yahoo.com/obama-admin-ignored-warnings-solyndra-221851842.html
But advisors were worried how it could hurt Obama's re-election efforts
Shows what the administrations REAL priorities are
WASHINGTON (AP) — White House officials discussed the political ramifications of a possible default by a troubled solar energy company that received more than $500 million in federal loans, newly released emails show.
Emails released Thursday night show that Obama administration privately worried about the effect of a default by Solyndra Inc. on the president's re-election campaign.
"The optics of a Solyndra default will be bad," an official from the Office of Management and Budget wrote in a Jan. 31 email to a senior OMB official. "The timing will likely coincide with the 2012 campaign season heating up."
The email, released by the House Energy and Commerce Committee as part of its investigation into the Solyndra loan, showed that Obama administration officials were concerned about Solyndra's financial health even as they publicly declared the solar panel maker in good shape.
Solyndra, which received $528 million in federal loans under the stimulus law, declared bankruptcy late last month and laid off 1,100 workers.
The Silicon Valley company was the first renewable-energy company to receive a loan guarantee under the 2009 stimulus law, and the Obama administration frequently touted Solyndra as a model for its clean energy program. President Barack Obama visited the company's Fremont, Calif., headquarters last year.
Even as Obama praised the company's plans to hire more than 1,000 workers, warning signs were being sent from within the government and from outside analysts who questioned Solyndra's viability as a "going concern."
At least three reports by federal watchdogs over the past two years warned that the Energy Department had not fully developed the controls needed to manage the multibillion-dollar loan program that provided more the loan to Solyndra Inc., a now-bankrupt solar panel manufacturer.
http://news.yahoo.com/obama-admin-ignored-warnings-solyndra-221851842.html