Monday, October 3, 2011

White House Knew Solyndra Was In Trouble, Emails Indicate

I had been willing to give the administration the benefit of the doubt on Solyndra, my thinking was they were taken in by an accounting fraud but when you read the email stories and especially the pull-quote below the jump this is officially a scandel.
NPR does the roundup:
The latest revelations regarding the $535 million federal loan that went to solar-panel manufacturer Solyndra in 2009 and the company's subsequent collapse into bankruptcy in 2011 are focusing on what the White House knew and when it knew it:
"E-Mails Reveal Early White House Worries Over Solyndra," reads the headline on the lead story at this hour.
"Donor, Officials Warned Obama Not To Visit Solyndra After Financial Warnings," says
"White House Brushed Off Solyndra Worries, Emails Show," writes The Wall Street Journal.
Here's what today's stories are all about:
  Democrats on the House Energy & Commerce Committee today released a seven-page memo that they say makes the case "there was internal disagreement within the Administration about Solyndra's viability and the effectiveness of the loan guarantee program throughout the process. [But] according to the documents, the decisions relating to Solyndra were made on the merits after vigorous debate and with awareness of the risks involved."...MORE
Here's the President, via ABC News:
Obama on Solyndra: 'Hindsight Is Always 20/20'

Here's the problem, via the Washington Post:

A Silicon Valley investor and senior administration officials warned the White House to reconsider having President Obama visit a solar start-up company because of its mounting financial problems, saying he might be embarrassed later.
“A number of us are concerned that the president is visiting Solyndra,” California investor and Obama fundraiser Steve Westly wrote to Obama senior adviser Valerie Jarrett in May 2010. “Many of us believe the company’s cost structure will make it difficult for them to survive long term. . . . I just want to help protect the president from anything that could result in negative or unfair press.”...MORE