Friday, September 16, 2011

Obama’s Solar Scandal - Michael Barone
>> One of the original investors in Solyndra was Oklahoma billionaire George Kaiser, who was also a major contributor to Obama’s 2008 campaign. In early 2011, Kaiser and other investors provided an additional $75 million in financing to Solyndra. They did so on condition, approved by the Energy Department, that they receive priority over previous creditors, including the government.
>> On August 31, while Obama was vacationing on Martha’s Vineyard, Solyndra filed for bankruptcy. On September 8, the day of Obama’s “American Jobs Act” speech to a joint session of Congress, FBI agents conducted searches of Solyndra’s headquarters and the homes of the firm’s CEO and founder. Newspaper accounts speculate that the government may wind up losing the whole $535 million.

Posted via email from The Blue Pelican

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