White House pressed on $500 million loan to solar company now under investigation

[alp227]

Source: The Washington Post

The Obama White House tried to rush federal reviewers for a decision on a nearly half-billion-dollar loan to the solar-panel manufacturer Solyndra so Vice President Biden could announce the approval at a September 2009 groundbreaking for the company’s factory, newly obtained e-mails show.

The Silicon Valley company, a centerpiece in President Obama’s initiative to develop clean energy technologies, had been tentatively approved for the loan by the Energy Department but was awaiting a final financial review by the Office of Management and Budget.

The August 2009 e-mails, released to The Washington Post, show White House officials repeatedly asking OMB reviewers when they would be able to decide on the federal loan and noting a looming press event at which they planned to announce the deal. In response, OMB officials expressed concern that they were being rushed to approve the company’s project without adequate time to assess the risk to taxpayers, according to information provided by Republican congressional investigators.

Solyndra collapsed two weeks ago, leaving taxpayers liable for the $535 million loan.

Read more: http://www.washingtonpost.com/politics/white-house-pushed-500-million-loan-to-solar-company-now-under-investigation/2011/09/13/gIQAr3WbQK_singlePage.html

[ProSense]

1. Is the

MSM really trying to push this?

Think Progress:

Exclusive Timeline: Bush Administration Advanced Solyndra Loan Guarantee for Two Years, Media Blow the Story

<...>

To set the record straight, Climate Progress is publishing this timeline — verified by Department of Energy officials — that shows how the loan guarantee came together under both administrations. In fact, rather than rushing the loan for Solyndra through, the Obama Administration restructured the original Bush-era deal to further protect the taxpayers’ investment:

<...>

[No Elephants]

6. What do the August 2009 emails show then?,

[Roselma]

8. Yes,,,,this was a deal 3 years in the making. The news

reporters would have done a service to their readers if they had pointed that out.

[Turborama]

10. As I surfed the news channels earlier I saw that O'Lielly was making a really big deal out of it.

Predictably.

[Sheepshank]

2. I hear Preibus pressed before he realized it all started with Bush n/t

[No Elephants]

7. The problem is not that the deal started.

[tblue]

3. Well, they tried to do the right thing anyway.

It's an embarrassment and it's a lot of money, but it wasn't criminal on the WH part, I don't think.

[Psephos]

4. Definitely not criminal, but definitely not admirable or smart. n/t

[bklyncowgirl]

13. It was dumb and careless. Obama can't afford dumb and careless.

These e-mails make it sound like the only thing that mattered was Biden's photo op. That, to say the least is not helpful. Taxpayers, understandably, do not like to see money spent carelessly.

Not the worst thing in the world but the Republicans will beat the drums on this one and the media will be all over it because.

[No Elephants]

5. Criminal or not, more of our money is out the window.

[Skittles]

9. not criminal, just more fucking idiocy

[muntrv]

11. At least Solyndra didn't electrocute soldiers in the showers like KBR did.

[truthisfreedom]

12. If this is all they have on the Prez, we're not in bad shape.

So what? Did anyone die?