It's About Liberty: A Conservative Forum
Topics => General Board => Topic started by: IronDioPriest on September 08, 2011, 11:59:06 AM
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I can't believe we haven't discussed the Solyndra situation here yet (at least I can't find it in a search). In short, it is a "green energy" company which receive $535 million in porkulus cash, was touted as the answer to economic growth on the "green energy" model, and was as recently as a couple months ago, scrutinized for fiscal insolvency, at which time we were reassured that it was on solid ground. This past week, they went bankrupt. Now, they've been raided by the FBI on the very day that Barack Hussein Obama is going before the nation to request... more porkulus.
HT: HotAir...
FBI Raids Solyndra (http://hotair.com/archives/2011/09/08/breaking-fbi-raids-solyndra/)
Barack Obama plans on talking about using stimulus funds for job creation tonight. Think he’ll mention Solyndra, which his administration fast-tracked to $535 million in taxpayer-financed loan guarantees? Naaaah:
[blockquote]FBI agents armed with search warrants descended this morning on bankrupt solar company Solynrda this morning.
The investigation comes after a request by the Department of Energy’s inspector general, FBI spokesman Peter Lee told NBC Bay Area News.
Agents arrived at 7a.m. and are examining the factory. Solynrda has a skeleton crew of 100 workers on the scene, closing the factory down. A CNBC photographer on the scene says the FBI has promised a press conference. An agency spokesperson at its San Francisco headquarters says he’s unaware of any such plans.[/blockquote]
Just to remind everyone, Obama touted Solyndra as an example of what government subsidies to green-tech firms could do for the economy and job creation. So far, it’s managed to make $535 million disappear from the economy and took 1000 jobs with it. As ABC reported yesterday, taxpayers are actually behind the company’s main investor, George Kaiser, in recouping the losses. Coincidentally, Kaiser was a big bundler for Obama in 2008.
And coincidentally, his company made a lot of visits to the White House over a two-year period while getting the taxpayer subsidies, too (via Zombie at PJ Tatler):
[blockquote]Not only does the now-bankrupt solar energy firm Solyndra have a cozy financial relationship with the Obama administration, company representatives also made numerous visits to the White House to meet with administration officials, The Daily Caller has learned.
According to White House visitor logs, between March 12, 2009, and April 14, 2011, Solyndra officials and investors made no fewer than 20 trips to the West Wing. In the week before the administration awarded Solyndra with the first-ever alternative energy loan guarantee on March 20, four separate visits were logged.
George Kaiser, who has in the past been labeled a major Solyndra investor as well as a Obama donor, made three visits to the White House on March 12, 2009, and one on March 13. Kaiser has denied any direct involvement in the Solyndra deal and through a statement from his foundation said he “did not participate in any discussions with the U.S. government regarding the loan.”
But the countless meetings at the White House seem hardly coincidental. Kaiser, in fact, is responsible for 16 of the 20 meetings that showed up on the White House logs.[/blockquote]
Now we have the FBI raiding Obama’s pet green-tech company at the behest of a DoE Inspector General. This of course prompts the question of when this IG gets the Gerald Walpin treatment.
With Obama about to make a case for even more government intervention and manipulation in markets, this raid couldn’t have come at a worse moment for the administration. If this raid turns up any official corruption, though, this moment will look like a Sunday afternoon on a Martha’s Vineyard golf course by comparison.
Much more linked @ HotAir...
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We had mention of it in one of the Economy threads, but this development is new. So where'd the bulk of the $535m go? Gee, is this Kaiser still in the country? Anybody bother seizing assets? As soon as Holder steps in this investigation will get NBP'd!
::gaah::
ETA - Nice lead-in to SCoaMF's porkulus pleading up on The Hill tonight, eh?
::)
Not watching that trash!
::mooning::
NFL pre-game on NFL network instead!
This Regime keeps setting new lows with each passing minute...
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One of the workers from Solyndra called Levin yesterday.
She said that they were buying new state of the art equipment right up until the closing.
Follow the money
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So what are we syaing here, the cxompany was set up in paper legally but never made o sold a unit?
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I can't say whether or not they actually sold anything, but I heard an account of some of the company's troubles; it seems it cost more to make the units than they could sell them for, considering China was their chief competitor.
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I can't say whether or not they actually sold anything, but I heard an account of some of the company's troubles; it seems it cost more to make the units than they could sell them for, considering China was their chief competitor.
Yup. I'm going by memory, but I believe I read that the units were subsidized on the order of 3/1, but that their value in the marketplace was still only 1. That is the lopsided fiscal situation that instigated the attention a couple months ago, when all was declared hunky-dory.
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The money was dirty so they sent it to the laundry.
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The money was dirty so they sent it to the laundry.
Rush saying that now, "I told you folks, there was no business there".
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The money was dirty so they sent it to the laundry.
Rush saying that now, "I told you folks, there was no business there".
I checked their site in internet for product applications and it says they partenered up with Carlisle Building products specifically TPO line which is a highly reflective white membrane. The solar PV units were supposed to be oriented such that the reflected light was going to be captured in part by the PV units which were set up to be non evasive as far as penetrations into the roof which are the main causes of roof problems. Of course this was back in Nov of 2008.
Things obviously change a whole bunch if they suddenly had to worry about competing with Chinese PV panels. If they partnered with Carlisle then there should have been a market for this especially if the system gained Energy Star support label that is of course until the eco flopped on it's face. They still could have made these units even if bought from China and manufactured the units for the roof but I have the feeling this asshat decided to get some of that Porkulus money for something entirely different. ::facepalm::
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The money was dirty so they sent it to the laundry.
I was reading this one from work,You're damned right the FBI is there to make sure nothing leads back to the grifter in chief.
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This (http://directorblue.blogspot.com/2011/09/solyndra-employee-from-day-one-everyone.html) was posted over at AoS.
The post relates the story of a Solyndra employee saying that everyone knew the place was a joke...including BO.
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How much of that $535M was funneled right back into Stymie's campaign find ?
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How much of that $535M was funneled right back into Stymie's campaign find ?
Ed Zachary
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The money was dirty so they sent it to the laundry.
I was reading this one from work,You're damned right the FBI is there to make sure nothing leads back to the grifter in chief.
NBP'd again!
Holder's code name should be "The Cleaner".
I want them all manacled and perp-walked to the gallows!!!
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I want people like this to cease to exist in their present form.
(Video) George Kaiser 2009: “It’s Time to Cash in on the Mother of All Government Handouts.” (http://www.thegatewaypundit.com/2011/09/top-obama-bundler-solyndra-investor-george-kaiser-boasts-of-cashing-in-on-stimulus-cash-video/)
Obama Bundler George Kaiser in 2009: It's Time to Cash in on the Mother of All Government Handouts (http://www.youtube.com/watch?v=19tD9xDoNmE#ws)
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As far as we know right now, HE did nothing illegal, so he'll have to be dealt with in another manner.
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That's a great find IDP. Whenever these Øbombanoids stick they grubbies out for cash we should play that vid back at them and invite them to shove it.