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  • Congressmen Ask White House for Documents on Solyndra's Federal Loan

    One day after solar company Solyndra closed its doors, two U.S. congressman are asking the White House for all documents related to the federal government’s $535 million loan guarantee. The probe also seeks correspondence between administration officials and the company’s investors, seeking to uncover if the White House engaged in cronyism to reward a major campaign donor.

    Rep. Cliff Stearns (R-FL) was pursuing an investigation of the Department of Energy’s $535 million loan long before Solyndra announced plans to file for bankruptcy. Now, using his perch as chairman of the House Energy and Commerce Committee’s Subcommittee on Oversight and Investigations, Stearns is turning up the heat. Rep. Fred Upton (R-MI), chairman of Energy and Commerce, also signed Thursday’s letter to White House Counsel Kathryn Ruemmler. (Copy of the letter below.)

    The congressmen ask the White House to turn over all documents by Sept. 12. Previous attempts have been met with resistance, including the refusal by the administration to testify before Congress about the taxpayer-backed loan.

    “Solyndra represented the first step in the Obama Administration’s $60 billion loan guarantee program, which promised to create thousands of new jobs,” Stearns said. “Now with the collapse of Solyndra, we see 1,100 employees out of work and taxpayers out of $535 million, most likely.”

    Solyndra secured the loan from the Department of Energy under a stimulus program. It was hailed as a model example by President Obama, who even visited the plant in May 2010. Vice President Biden spoke via satellite at Solyndra’s groundbreaking ceremony in September 2009 and Energy Secretary Steven Chu was in Fremont, CA, to mark the occasion.

    Perhaps it wasn’t unusual to shower so much attention on the company. After all, Obama has close ties to one of Solyndra’s investors, Oklahoma oil billionaire George Kaiser. He was a “bundler” of campaign donations for Obama in 2008. In that role, Kaiser raised at least $50,000 for the campaign.

    Reps. Upton and Stearns Letter to White House on Solyndra

    Posted in Featured, Scribe [slideshow_deploy]

    18 Responses to Congressmen Ask White House for Documents on Solyndra's Federal Loan

    1. TLM says:

      Takes me back to the days of the closing of GM dealerships, with no rhime or reason. Oh forgive me, wasn't a big campaign contributor involved and many of the closings were located close to his dealerships !!! Hmmm

    2. Todd says:

      We will now see another example of this adminstration's "transparency" – sarcasm intended.

    3. @MissyG999 says:

      Interesting article…

      I don't imagine the representatives will get much cooperation from this administration though!

    4. The Blue Collar Man says:

      Boggles my mind with all the questionable things obumbler is involved in. Seemingly every day, some new "Problem" is brought to light.
      Further, all the Constitutionaly "illegal" things that occur, the war in Libya being a prime example, that obumbler has his hands in, up to his shoulders.

      And, there sets all our elected officials, many wothless sh**s, doing nothing to protect us against "The Great Socialist", obumbler.

    5. Lloyd Scallan says:

      Don't hold your breath waiting for those documents from this administration.

    6. Laura says:

      Laundrying stimulas money through "green" companies that go "belly up"? Where did 535 million go? Who was watching? Who cares? We are being robbed by a crook! No wonder he and his wifey feel so wealthy-they have access to all the stimulas money. I bet they get kick backs from everywhere they launder money. Or is that redistribute the wealth? I have never been so ashamed of a President in all my life of loving my country! Boo! Hiss! to you fools who put him in office and didn't find out who he really was and trusted his lies and the stinkin' media.

    7. Pete Houston says:

      Pretty good investment. Give Obama $50K in campaign money and get $500M in loan guarantees. Looks like a 10 to 1 return. Obama keeps the $50k and costs him nothing. Now who are the money grubbers in this story. This is just one little story with huge finacial consequences to the 50% of the population that actual pays taxes. I am ready to foreclose on the white house and throw the bums out on the street.

      • Charlie says:

        You better check your calculator… That's a 10,000 fold return

      • K Moore says:

        Pete, a 10 to 1 return would net you 500k. It's more like a 10,000 to 1 return. Not bad for a days work. Reminds me of some of Hillary's investments.

    8. Mariden says:

      Makes Nixon and Watergate look like Kindergarten.

      • Slick says:

        Yes it DOES!!! The only thing Nixon was after was to find out what the Democrats were going to do to block his re-election!!! AND as far as I know, nobody got a $500+ million payoff!!! It cost Nixon, A REPUBLICAN, his office. Do you think there will be ANY consequences for this President who is a DEMOCRAT??????

    9. Charon says:

      I will be watching the response from the aministration. I am willing to bet they receive absolutley nothing. There is no way to hold this administration accountable on anything because they think they are above the law.

    10. Bobbie says:

      all businesses backed with bias by Obama should be investigated. America needs PROTECTION from it's president and the like minded of many!!

    11. astonished says:

      Bundle money for Obama so he awards you a big contract on taxpayer money then funnel the money into next Obama campaign and file bankruptcy

    12. Rob Rockville says:

      This company could not raise the capital that it needed to build its new plant in Fremont. Likely reason for no investors was lacking a business plan showing a return on investment. This is also the likely reason that Obama directed the $535M to guarantee the company loans; the largest of which was held by George Kaiser.
      This clearly is a money laundering operation. Watergate was nothing compared to the corruption of this administration.

    13. Mike, Wichita Falls says:

      $486,364 per Solyndra job? No wonder sustainable energy is unsustainable…at present. Maybe someday but not now, Uncle Sam. Just leave the energy business to the experts, and stop telling big oil to invest in wind and solar.

      What is it about these oilfield billionaires, Kaiser and Pickens, throwing in their lot with big government? So it's O.K. for them to make it big but no one else? Deal with your guilt some other way, guys.

    14. Louise Williamson says:

      Will this story be on the news tonight? It is time that the whole country be informed about the history of this administration. Can the president just grab 500 Million and give it to a contributor?
      But the republican job bill is totally to exempt all corporations from income taxes. Is this a joke? The wealthy keep getting wealthier. Someone has to pay taxes . We are in a hole, up to our necks, and our country may not survive, if our leaders don't care what happens to the U.S.A.

    15. Kinderlynn says:

      accountability goes out the window when a major corporation files for bankruptcy after receiving 535 million dollars- states cannot receive government funds without adhereing to certain rules and if the state does not follow government regualtion the government takes the money back and charges the state a penalty-
      What penalty will the government charge Solyndra and Will the government take back that money?
      It sounds like a cover up knee deep in something that is not clean

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