On May 26, 2011, the White House posted this video praising Solyndra as a Recovery Act success story.
Barack Obama’s gleaming example of green technology – Solyndra – filed for bankruptcy last week. The solar panel manufacturer squandered $535 million of stimulus money in a little over a year.
But, there’s more…
Top Obama bundler George Kaiser made multiple visits to the White House in the months before the company was granted a $535 million loan from the government. And top Solyndra officials also made numerous visits — 20 — to the White House, according to logs and reporting by The Daily Caller. Solyndra officials in the logs included chairman and founder Christian Gronet and board members Thomas Baruch and David Prend. The company secured the $535 million loan despite the fact that it was widely known Solyndra was in deep economic trouble and had negative cash flows since its inception.
Kaiser said he did not use political influence or talk to administration officials about a massive government loan to Solyndra.
It has now been confirmed that White House officials sat in on the Solyndra meetings this past year.
The Blotter reported:
Officials from the Department of Energy have for months been sitting in on board meetings as “observers” at Solyndra, getting an up-close view as the solar energy company careened towards bankruptcy after spending more than $500 million in federal loan money.
Word of the Energy Department’s unusual arrangement came as federal agents on Thursday converged on the California headquarters of the failed solar company, focusing fresh attention on the first corporate beneficiary of President Obama’s stimulus program to create new clean energy jobs.
The company, which closed its doors last week and laid off 1,100 workers, has been a subject of an ongoing series of stories by the Center for Public Integrity’s iWatch News in collaboration with ABC News.
“The FBI is here this morning executing a search warrant,” Solyndra spokesman David Miller said Thursday. “We’ll cooperate with them and given them whatever they are looking for, but certainly it was a surprise,” Miller said. “I came to work this morning and they were here and I’ve been sorting it out.”