Tuesday, September 13, 2011

Some info on the Solyndra-Obama-Dept of Energy-Argonaut-George Kaiser scandal...

Obama Bundler George Kaiser Made Multiple Visits to WH Prior to $535M Solyndra Loan Guarantee!

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.

"...hundreds of thousands of dollars were contributed by shareholders and executives of Solyndra to the Obama 2008 campaign. One of the company's largest investors, George B. Kaiser of Tulsa, reportedly contributed $53,500 personally and bundled large amounts more for Obama in 2008. Kaiser is a billionaire with banking and oil and gas interests that rank him among the wealthiest people in the world. Kaiser also visited the White House 16 times between 2009 and 2011."

"Sources tell me the Obama administration restructured the loan this winter, so taxpayers probably won’t even be the first creditors to get paid after Solyndra files for bankruptcy next week. The first $75 million will go to two Solyndra investors who poured in extra cash when the company nearly went bust in January. And one of them is a venture associated with the billionaire George Kaiser, an Obama campaign bundler." ~Michael Grunwald

Cate Long: “Like many bankruptcies there are a lot of creditors in line to be repaid by disposing of Solyndra’s assets. What is unusual is the order of precedence of creditors. When the Solyndra loan was guaranteed by the Department of Energy and paid out by the U.S. Treasury according to US law 10 C.F.R. §609.10(d)(13), the government should have become first in line for repayment. But when I read the bankrutpcy filing it turns out George Kaiser’s investment firm is actually first in line, ahead of the U.S. government, for $69 million.”

"DOE representatives participated in the structuring of the Argonaut term loan. The DOE specifically granted the preferred position. Six months ago the good folks at the DOE had to have known that Solyndra was a sinking ship. If we later hear that either the DOE or the President were shocked and surprised that Solyndra went into the tank, then we know they are lying." ~Bruce Krasting

Taxpayers Rank Behind Solyndra Investors Under Obama’s Refinancing Deal

Obama’s Bankrupt Green Ideology | FrontPage Magazine

The Subcommittee on Oversight and Investigations has scheduled a hearing on Wednesday, September 14, 2011, at 9:30 a.m. in room 2123 of the Rayburn House Office Building. The hearing is entitled “Solyndra and The DOE Loan Guarantee Program.”

“We smelled a rat from the onset,” Representatives Fred Upton, a Michigan Republican and the committee chairman, and Cliff Stearns, a Florida Republican and chairman of the investigation subpanel, said in a statement Aug. 31 when the company announced it had dismissed 1,100 employees and planned to file for Chapter 11 bankruptcy reorganization.

Neela Banerjee: "If most hearings are a surefire cure for insomnia, Wednesday’s Solyndra session promises to be a standing-room-only humdinger. The witness list includes the deputy director of the White House Office of Management and Budget, Jeffrey Zients; the head of the Energy Department’s loan programs, Jonathan Silver; Solyndra chief executive Brian Harrison; and the company’s chief financial officer, W.G. Bill Stover."
"With the president traveling the country touting his Stimulus II plan, it is important to understand the lessons from his first stimulus. A year ago, he [Obama] made Solyndra the supposed poster child for stimulus success. After laying off 1,100 workers, wasting over $500 million in loan guarantees and becoming the subject of an FBI investigation, Solyndra is now the prime example of stimulus failure." ~RNC Chairman Reince Priebus