More Pay for Play… Obama DOE Awarded $400 Million Loan Guarantee to Top Bundler’s Solar Investment Project

Like Solyndra’s George Kaiser, Colorado also features an Obama bundler whose direct investments included a solar company that received $400 million in loan guarantees from an enthusiastic and willing Obama administration.

Obama supporter Pat Stryker, who bundled $87,500 for the president in 2008, is a major investor in Abound Solar, a company that was awarded a $400 million stimulus loan. Obama even bragged about his support for the company in a July 2010 Weekly Address.

President Obama announced that two of America’s most established solar companies are set to receive up to $2 billion in loan guarantees in order to ‘kick-start’ the US solar industry. The plan will provide Abengoa Solar and Abound Solar Manufacturing with the massive investment in order to fund their expansive projects, both of which could drastically change how solar energy is used in the US. (

Obama announced the $2 billion “investment” into green energy projects in his July 3, 2010 Weekly Address.

In fact, today, I’m announcing that the Department of Energy is awarding nearly $2 billion in conditional commitments to two solar companies.

The first is Abengoa Solar, a company that has agreed to build one of the largest solar plants in the world right here in the United States…

The second company is Abound Solar Manufacturing, which will manufacture advanced solar panels at two new plants, creating more than 2,000 construction jobs and 1,500 permanent jobs. A Colorado plant is already underway, and an Indiana plant will be built in what’s now an empty Chrysler factory. When fully operational, these plants will produce millions of state-of-the-art solar panels each year.

Top Obama bundler Pat Stryker owns Bohemian Companies, a major Abound Solar Manufacturing investor. Obama gifted the solar company with a $400 million loan guarantee after the election.

The People’s Press Collective out of Colorado is digging into the story.

Complete Colorado‘s Todd Shepherd first broke ground last September on the pay-to-play implications behind Abound Solar’s $400m Department of Energy loan guarantee touted by President Barack Obama in a July 2010 radio address and its connections to a Democratic Congresswoman seeking reelection and one of the state’s highest-profile Democratic donors.

Shepherd took a look at the political triangulation between former Rep. Betsy Markey (D, CO-4), Colorado billionaire and Colorado Democracy Alliance donor Pat Stryker, and Abound Solar. He noted the direct connection between Stryker’s company–Bohemian Companies–and its investment in Abound Solar, and the push for the DOE loan guarantee by Markey and other key Democrats. The amount of investment, however, was still unclear at that time, but Stryker’s connection to the company was not.

In many of the donations to Democratic candidates, Stryker is listed as “owner” of Bohemian Companies.

Amy Oliver, Shepherd’s colleague at the Independence Institute, followed up on this story earlier this week with an extensive detailing of more of Stryker’s donations to Colorado (and national) Democratic interests, including donations to President Obama, and a deeper connection between Abound Solar and Bohemian Companies.

Free Republic has more on this latest Obama pay for play scandal.

Michelle Malkin shines more light on the solar scandals.

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  • listingstarboard

    The House must DEFUND the DOE immediately.


    president fukk up….anything he touches turns to $HIT

  • Larkin

    It’s only a scandal if the lib media says it’s a scandal.

    All I’m hearing is ***crickets***.

  • WW

    It looks like the next POTUS will be looking at a pardon for BHO.

  • Earthmover

    Could you imagine the media if Bush had orchestrated this fraud? I can’t keep
    up, it’s two or three new items that come to light each day.

  • Trialdog

    Is there a solar company whose owners bundled for Obama but did not receive taxpayer dollars?

  • Ginger

    As usual our Congress, CIA, FBI, is asleep! Well I do have one little fraction of hope that there is still enough fbi agents that still love America…the cia…he!! NO! So sad that people can sell their soul for what? Money? Power? Can not take the money with them when they pass this world because it will just burn up on their way to their final resting place! Power? What power? They are just little pawns to do the dirty work for the LEADERS!!!!

    So Sad!

  • bigkahuna

    Off to prison with this P.O.S. Thief In Chief. He is a thug of the highest order.

    He doesn’ just t rob Peter to Pay Paul…He Beats the hell out of American Peters then calls them soft and Gives it to Paulie the Union thug and Campaign Money Bundler

    How anyone can even look at this thug without thinking he should be in prison is beyond me.

  • Steven

    These are just more example of corruption and cronyism running rampant in our country and in our government. In Texas, there is another disturbing story about a Dallas business owner, who was involved in a civil dispute and paid millions of dollars to lawyers, and when he objected to their fees, they had a “friendly” judge seize all of his property, without any notice or hearing, and essentially ordered him to be an involuntary servant to the lawyers. The business owner has been under this “servant” order for 10 months. has an explanation of this really disturbing case.. The frequency of instances like these seems to be increasing exponentially even though they get little media attention

  • driguana

    It would be really great if someone out there would do an article or blog on Obama’s top 20 bundlers and what they have all received to date. I don’t think many are familiar with who they are, how intertwined they all are and what financial, social, ambassadorial perks etc. they have all been rewarded with to date.

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  • theBuckWheat

    “Obama supporter Pat Stryker, who bundled $87,500 for the president in 2008, is a major investor in Abound Solar, a company that was awarded a $400 million stimulus loan. ”

    Our country used to run on venture capitalism. Now it runs on venture socialism.

  • do these green companies have to “compete” for this money by having a better, cheaper product than other companies? or is the competition who funnels the most money to the democratic party.

  • Patty


    Is it just me but these are the ugliest things ever.

    SungazerNew research shows, albeit unintentional, that generating electricity with solar panels can also be a very bad idea. In some cases, producing electricity by solar panels releases more greenhouse gases than producing electricity by gas or even coal.

  • Patty

    Need to ponder that Environmentalists

  • JoyO

    Which company is the one owned by Pelosi’s brother-in-law? This venture socialism looks like it will be as good a deal for the “political elite” as global warming.

  • Old One

    Green energy is nothing more than a cover for th democorrupt party to hand our tax money to the democrat party. Obozo is merely bringing the Chicago Way to the District of Corruption.

  • big L

    Is this the cultcha of corruption. Can Duke Cunninham’s attys move for “time-served release”?
    Surely $100-$2500 bribes are piker charges compared to these mega wheeler-dealerisms.
    (Don’t call me shirley!)
    Don’t these Federal Loan guarentees have to be paid back? Isn’t somone on the hook for the bill?What is the interest rate/APR rate? There has to be an interest rate that is typical fair-market or the IRS would ‘call-for-the-check’. If there is no interest rate then the money is a gift, and subject to a gift tax. Who pays that. and can the Federal govt give away money? I guess they can but seems to be missing some strings. Unless there is enabling legislation for these solar payouts that we don’t know about.
    I think we would all liketo get tax relief like Abound, assuming they owe tases on this. Also can the payments on the loan even be made from the income of selling solar devices?The payment woul be astromiical and my calculator only goes to 10 million.
    Anyone here know the answers?

  • richard40

    People have been saying this is the gov playing venture capitalist, but it is not. Venture capitalists go for equity, not loan guarantees. That way when one of their risky ventures succeeds, they can sell their equity in an IPO and make 4-5 times their investment, thus covering all their other failures, and still getting a tidy return. But with the gov loan guarantees, the gov has complete downside risk, but gets no profit if the company succeeds, and any infrastructure created is all privately owned, with no public benefit that is not already being provided by other profit making companies that did not get loan guarantees. This is not investment, this is pure idiocy. There is only one possible explanation, this is not investment, it is pure graft, so lets call it what it is.

  • Mikey

    @ big L …. Craig the Tool might be the guy to ask.
    He seems to be our resident expert on unfounded rumours & scandals as fact.
    He’s especially good with the inner workings of the banking system and all things Wall Street.


  • Tatarewicz

    @Richard D40 – If the government-backed company succeeds then the government collects income taxes from the employees working there and is not out-of-pocket for the loan guarantee. The guarantee helps the company get a lower interest rate, something that may help the company to succeed.

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