The Nook | Information the Liberal Media Intentionally Hides
White House Pushed Solyndra Not to Mention Layoffs Until After Midterms
- Details
- Wednesday, 16 November 2011 07:28
As with the Obama administration, if something smells funny, it's likely because that something is bullsh*t. The failed green energy Potemkin village known as Solyndra has yet to be settled and the evidence mounting against the company is substantial. Last week, the White House failed to obey a subpoena from the House of Representatives over documents, which simply made matters worse and showed, again, that the Obama administration believes they're above the law. Yesterday, newly released emails show that Obama's Department of Energy, in coordination with the Vice President's office, urged Solyndra to keep quiet on layoffs until after the midterm elections in November 2010. This is proof of a motive and an acknowledgement that laws were being broken.
Solyndra was the pride and joy of Obama's phony and failed stimulus bill. At the time, the White House allegedly knew the company was unsustainable, but a top Democratic donor invested in Solyndra, making it necessary for him - George Kaiser - to get his payoff, so he could donate more money to the Democratic Party. If the shoe fits, which it does, this is crony capitalism at its finest from one of the most corrupt administrations in modern history.
Solyndra’s chief executive warned the Energy Department on Oct. 25, 2010, that he intended to announce worker layoffs Oct. 28. He said he was spurred by numerous calls from reporters and potential investors about rumors the firm was in financial trouble and was planning to lay off workers and close one of its two plants.
But in an Oct. 30, 2010, e-mail, advisers to Solyndra’s primary investor, Argonaut Equity, explain that the Energy Department had strongly urged the company to put off the layoff announcement until Nov. 3. The midterm elections were held Nov. 2, and led to Republicans taking control of the U.S. House of Representatives.
“DOE continues to be cooperative and have indicated that they will fund the November draw on our loan (app. $40 million) but have not committed to December yet,” a Solyndra investor adviser wrote Oct. 30. “They did push very hard for us to hold our announcement of the consolidation to employees and vendors to Nov. 3rd – oddly they didn’t give a reason for that date.”
The liberal media often talks about a "smoking gun." What transpired was nothing less than corruption between the White House and Solyndra in order to suppress their $535 million loss. It's no longer a gamble when evidence shows knowledge that the company would fail and a blatant coverup attempt.
Earlier in October, Solyndra executives and its investors had warned the agency that they needed emergency financing to keep the company operating after December, and were working with the agency to restructure and ease the terms of its half-billion-dollar federal loan.
On Oct. 25, 2010, Solyndra chief executive Brian Harrison e-mailed the energy department’s loan staff to explain that Solyndra “has received some press inquiries about rumors of problems (one of them with quite accurate information) and we have received in bound calls from potential investors. Both of these data points indicate the story is starting to leak outside Solyndra.”
Harrison went on to state that he would “like to go forward with the internal communication [to employees regarding layoffs] on Thursday, October 28.”
Harrison’s e-mail was forwarded to program director, Jonathan Silver, who then alerted White House climate change czar Carol Browner and Vice President Biden’s point person on stimulus, Ron Klain. Browner asked for more information about the announcement, and Chu’s chief of staff explained he had left a voicemail message on her cellphone.
On Nov. 3, 2010, Solyndra announced it would lay off 40 workers and 150 contractors and shut down its Fab 1 factory. The department agreed to continue giving Solyndra installments of its federal loan despite the company’s failure to meet key terms of the loan, and in February restructured its loan to give investors a chance to recover $75 million in new money they put into the company before taxpayers would be repaid.
It's clear that the Obama administration directed loans to his pals and donors, which has become a common trend. This was a phony deal from day one intended to sell the perception that green energy is the future. Innovation in green energy will not be the result of government intervention.
Chuck Justice is the editor-in-chief for Habledash.