Solyndra Update: E-Mails Reveal Government Almost gave the Solar Energy Company Second Loan
Solyndra bankruptcy news heats up as e-mails reveal conversations that show the Obama administration was forewarned to not loan the solar energy company the $535 million. Republicans demand answers and review emails that report irresponsible lending for the purpose of “green jobs” and perhaps to satisfy investment relationships – all with tax payer money!
ABC.com reports:
“President Obama said Thursday that his administration has loaned billions to start-up high tech firms like the now-bankrupt solar firm Solyndra based not on political influence, but "on the merits."
Republicans have requested all e-mail documents to review conversations since Obama's inauguration. E-mails reveal information about the original loan of $535 million. The Washington Post quotes Republican chairman, Cliff Stearns saying:
“Documents reveal a startlingly cozy relationship between wealthy donors and the president’s confidantes, especially in matters related to Solyndra.”
Warning signs were made clear to the Obama administration, even before the original loan was made; however, some say that the Obama administration favored Solyndra because it was backed by investment funds linked to George Kaiser, who was a major fundraiser for Obama.
At the moment, further investigation is underway to find out if there is more information that would reveal why the government really invested in the company.
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UPDATE: JASON SILVER, HEAD OF U.S DEPARTMENT OF ENERGY'S LOAN PROGRAM (WHO LOANED SOLYNDRA $535 MILLION), STEPS DOWN
