Saturday, March 24, 2012

Weekly Friday Solyndra Document Dump

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In what is becoming a weekly tradition, the Obama administration released a bunch of docs related to the boondoggle that is Solyndra. If we actually had a press that cared lived up to their name, we'd have known about these for awhile but, alas, instead of this being Obama's Enron it's instead a weekly drip, drip, drip of incriminating evidence to those in Congress doing what the media isn't.

This week we find out that the WH was in cover your ass mode when it became clearly evident that the company Obama touted as the future of "green tech" was indeed about to tank after burning through half a billion dollars:
Several key White House offices were involved with the Obama administration’s messaging plans and other preparations as the collapse of the taxpayer-backed solar company Solyndra was imminent, newly released documents show.

The latest White House documents delivered to House Republicans on Friday again highlight the extent to which senior administration officials braced for the fallout as Solyndra – a company President Obama had personally visited – was about to go under.
A White House memo that noted the danger of “imminent bankruptcy” at the end of August 2011 says, “OMB, DPC and NEC have been working with press and OLA to be prepared for this news to break.”
Acronym translation: OMB is the Office of Management and Budget, DPC is the Domestic Policy Council, NEC is the National Economic Council and OLA is the Office of Legal Affairs.

The document, an update on Solyndra’s $535 million Energy Department (DOE) loan guarantee, notes that $527 million had been disbursed and that DOE believed no more funds should be allotted.
Hey, I'm glad they finally decided that they needed to stop disbursement of that 1% after they blew threw the other 99% without any scrutiny. That's our tax money protectors doing their job with a laser like focus on protecting American citizens money they were entrusted with.

Previous documents show that Solyndra was failing for months and the regime kept doing what liberals do with any program they care about...propping it up with more tax dollars. Insolvency is bad but a wholly progressive idea being shown as both a sham and a boondoggle is far worse to the Obamatons.

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