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Solyndra scandal worsening

I’ll shoot straight with you, folks: I haven’t been following the Solyndra scandal all that closely.  But I am now.

The latest:

The White House faced mounting political complications as a second top fundraiser for President Obama was linked to a federal loan guarantee program that backed a now-bankrupt Silicon Valley solar energy company, and as two California lawmakers called for investigations of a state tax break granted to the firm.

Steve Spinner, who helped monitor the Energy Department’s issuance of $25 billion in government loan guarantees to renewable energy projects, was one of Obama’s top fundraisers in 2008 and is raising money for the president’s 2012 reelection campaign.

Spinner did not have any role in the selection of applicants for the loan program and, in fact, was recused from the decision to grant a $535-million loan guarantee to Solyndra Inc. because his wife’s law firm represented the company, administration officials said Friday.

But Spinner’s role as a top official in the Energy Department program, which had not been previously revealed, is likely to spur new inquiries into whether political influence played a role in the handling of the “green” energy fund. Solyndra faces a congressional probe, a criminal investigation and separate internal inquiries at the Energy and Treasury departments.

As Ace notes, Spinner “recused himself from formally making the decision, they say, but he may not have recused himself from influencing the decision”.

In the beginning, all I knew about Solyndra was that B.O. touted them as model of efficiency in developing clean energy, only to watch them go belly-up and take half a billion of our tax dollars with them.  That was irritating enough.  But now to see that the administration was warned to NOT subsidize the company and proceeded anyway, only to discover that B.O.’s fundraisers were linked to the loan program?  The corruption inherent in Chicagoland politics is on full display in the White House, and with the economy (and his poll numbers) in the crapper, this is the last thing that Chairman Zero needs to have happen right now.


September 19, 2011 - Posted by | corruption, Obama, Solyndra

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