Administration put taxpayers at the back of the line for Solyndra assets

The skeletons are being dragged out of the closet in the Solyndra scandal, in the face of White House resistance. First came news that over $500 million dollars of loan guarantees were extended to the solar scheme despite outside auditors warning there was a huge risk that this company was going to go bankrupt, and despite government auditors also agreeing this was a loser proposition. Then it comes out that the major private investor of this venture was a foundation set up by George Kaiser, a  major Obama and Democratic Party bundler and donor.  The same George Kaiser has been a frequent visitor to the White House. Additional revelations keep coming to light: normal government protocols and filters meant to protect taxpayers were ignored when it came to pouring taxpayer dollars into Solyndra (one of only 5 companies, apparently, that received such special treatment. The White House was steamrolling the granting of loan guarantees to Solyndra through what looks like...(Read Full Post)

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