And the saga continues…
White House Officials Warned Obama About Solyndra
(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.”
The memo was among several copies of e-mails released Monday morning by Democrats on the House Energy and Commerce Committee, which is investigating a government loan to the now-bankrupt company.
Obama’s Energy Department had provided Solyndra with a $535 million government-backed loan in 2009 and wanted to highlight the investment to show taxpayers how their stimulus dollars had been put to work. Westly said that if Obama proceeded with the visit, he should be careful about touting the company’s future.
“If it’s too late to change/postpone the meeting, the president should be careful about unrealistic/optimistic forecasts that could haunt him in the next 18 months if Solyndra hits the wall, files for bankruptcy, etc.”
~snip~
UPDATE: Nancy Pelosi’s Brother-In-Law Given $737 Million To Build Giant Solar Power Plant
(DailyMail) Nancy Pelosi is facing accusations of cronyism after a solar energy project, which her brother-in-law has a stake in, landed a $737 million loan guarantee from the Department of Energy, despite the growing Solyndra scandal.
The massive loan agreement is raising new concerns about the use of taxpayers’ money as vast sums are invested in technology similar to that of the doomed energy project.
The investment has intensified the debate over the effectiveness of solar energy as a major power source.
The SolarReserve project is backed by an energy investment fund where the Minority Leader’s brother-in-law Ronald Pelosi is second in command.
PCG Clean Energy & Technology Fund (East) LLC is listed as one of the investors in the project that has been given the staggering loan, which even dwarfs that given to failed company Solyndra.
Other investors include one of the major investors in Solyndra, which is run by one of the directors of Solyndra.
~snip~
¡Aye Solyndra! $1.5 Billion Solar Farm Planned For Florida: HERE
Solyndra ‘success’ spurs government race to fund ‘green’ companies: HERE
Solyndra ‘Green’ executive: $100,000+ in Obama donations and 20+ White House trips: HERE
Obama seeks $53 billion to fund ‘secretly’ bailed out GE for high-speed rail: HERE
Bankrupt-Bailed-Out-Government-Owned-Tax-Free-Overseas-Job-Outsourcing GE Tells American Business Owners, ‘Stop Complaining About Big Government’: HERE
California eagles chopped up by California’s ‘eco-friendly’ windmills: HERE
Green ‘wind-powered’ Scotland relies on French nuclear power: HERE
Obama Hails, ‘Trans-Inter-Compu-Global-Hyper-Mega-Continental Railroad’: HERE
[...] Via Sad Hill News. [...]
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