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Obama Briefed On Green Energy Loans – Before Solyndra Solar Collapse

Emails Show Obama briefed on Solyndra loan issues
(Photo by Paul Chinn-Pool/Getty Images)

New e-mails obtained by the Congressional committee investigating the failed green energy company Solyndra show President Obama was briefed on the Department of Energy loan programs, including those to the company.In June 2011,  White House briefings gave Obama detailed information about the hundreds of millions of taxpayer dollars being doled out to green energy companies, many of whom have since failed, including the California-based solar energy giant Solyndra. The company abruptly closed last August, laying off more than 1,100 workers. Their headquarters were raided by FBI agents who seized documents, computer records and other information to investigate if Solyndra deliberately misled Federal officials over their financial health.

According to information obtained by the GOP-led Congressional Committee, Obama was shown a slide show and other information that the Department of  Energy was confident Solyndra would be able to pay off its loan at minimal cost to the taxpayers. The information, plus Federal steps weeks earlier to help extend deadlines so the company could make some payments,  indicate the White House was aware of the financial difficulties of Solyndra.

The list of green energy companies that received Federal stimulus money and are either failing or have filed for bankruptcy. Some, such as Solyndra, have already closed their doors and been out of operations for months.  The list stands at 19, according to information compiled by the noted political site Gateway Pundit.

Also of interesting note,  according to detailed investigating by The Heritage Foundation, 80 percent of companies that received Federal stimulus “green” money were significant Obama supporters, or are owned by people who made financial donations to Obama’s campaign. Even the GAO (Government Accounting Office) noted in early 2011 that the first 18 loans done by the Obama Administration “lacked transparency.” The report went on to say:

The GAO further declared that the Department of Energy “had treated applicants inconsistently in the application review process, favoring some applicants and disadvantaging others.” The Department of Energy’s inspector general, Gregory Friedman, … has testified that contracts have been steered to “friends and family.”

Despite their financial troubles, and some of these companies going under, many of the people behind the scenes of these “green” firms continue to support and raise money for Obama’s 2012 re-election campaign. 

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