In this May 26, 2010 file photo, President Barack Obama, with Solyndra Chief Executive Officer Chris Gronet, looks at a solar panel, during a tour of Solyndra, Inc., a solar panel manufacturing facility, in Fremont, Calif. Solyndra received a $535 million loan from the U.S. government has announced layoffs of 1,100 workers and plans to file for bankruptcy. (WaPo)

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.
iWatch News reported, via Free Republic:

The i Watch News investigation confirmed that at least 18 other bundlers have ties to businesses poised to profit from the president’s political agenda, through stimulus money, government contracts, or other spending to promote clean energy technology or green development.

Oklahoma billionaire investor George Kaiser is one. A longtime Democratic donor, he is a big financial backer of a company that in March of 2009 won a $535 million loan guarantee [19] from DOE for a solar plant in Silicon Valley. He had multiple visits to the White House in the months before he was awarded the contract. Kaiser has not responded to interview requests from iWatch News.

This doesn’t look very good considering it was widely known that Solyndra was in deep economic trouble and had negative cash flows since its inception.

Kaiser says he did not use political influence or talk to administration officials about a massive government loan to Solyndra.

 

 

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  1. Soooo…….do we get our money back now…?

  2. It’s a money laundering scam.

  3. Crony capitalism at its most obvious. We see the corporate facism of the Left.

  4. Check your headline. That’s a $535 MILLION loan, not $535 loan.

    Steve
    Common Cents
    http://www.commoncts.blogspot.com

  5. People aren’t buying this “go green” nonsense anymore! Only people with cash they can just “throw away” would spend money on solar panels anyways, and because of this economy (and POSPOTUS), there aren’t many of those kind of people left. And c’mon, I mean if I was wealthy, why would I need solar panels anyways? I think I would be able to afford paying an electric bill, like everyone else.

  6. We’re only scratching the surface of this scandal. Solyndra not only got the huge government loans, it got them at about half the interest rate other companies were given.

    The only companies loaned money under ARRA are paying 3.3-4% interest on it. Solyndra, alone, was given a rate under 2%. So far, no explanation has been offered for the difference.

  7. “Kaiser says he did not use political influence or talk to administration officials about a massive government loan to a solar company backed by his investment funds.”

    BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!

    I’ll believe you, Kaiser, when you say it in court. Under oath. As the defendant in your fraudulent scheme.

  8. Imagine if this was George W Bush in the White House. Chrissy Mathews would be spraying spit all over the camera lense night after night. Ed Schulz would have a seizure. Keith Obermann would have a stroke. Rachel Maddow’s head would explode. Rev. Sharptongue would be “tongue tied” and unable to read the teleprompter (resist we much). Nancy Pelosi’s botox injection sites would erupt and Harry (the body) Reid would finally have some color in his cheeks.

  9. IT took all of those trips to work out the details of how to launder the money back to the DNC.

  10. “Kaiser says he did not use political influence ”

    Nope. He just talked about Obama’s great golf game.

  11. Someone has that money. And since Fannie Mae And Freddie Mac are going to sue the banks to recover loan money, then this Kaiser guy should have to repay the $535,000,000.00 his company got. What’s good for the goose….

  12. How to get rich with other people’s hard earned money:

    1. Government political hack steals money from taxpayers.

    2. Government political hack gives money to crony business friend.

    3. Employees in said business pay union dues.

    4. Union funnels money back to government political hack.

    Any questions?

  13. Rest assured that Eric Holder’s Department of Justice will get right on this after the holiday.

  14. Notice lil Jerome is not present at the failures of his butt buddy Obama.

    fair weather friends will leave you when the excrement hits the fan.

    Last time I looke there is an excrement storm caused by Obama.

    How’s that hopey changey tingee worken for ya?

    powder is dry

  15. Ah, the wonders of a centrally planned economy. Failure? Reinforce it. Success? Punish it.

  16. Keep that congressional investigation going. Check every loan made by the Energy Department.

    And while we’re on the subject of crony capitalism, read this from the WSJ:

    http://online.wsj.com/article/SB10001424053111904583204576542770484363328.html?mod=WSJ_Opinion_LEADTop

    Taxpayers subsidizing a car that starts at around $105,000. Can anyone have any doubts as to why this economy is in shambles?

  17. Me thinks me smells a RAT. . .A DemocRAT!

    When 2012 rolls around and RATs & RINOs are swept out in Operation Clean-Sweep 2012. . .then the newly elected constitutionally conservative government needs to investigate this amongst other things. .

    And if it is found out that OBAMA was indeed ineligible to serve as president for not being a “naturally Born citizen”, then he and ALL those who supported this scam need to be tried for treason. . .

    And all those who stole from the public coffers too!

    Run Sarah Run

  18. I’ve saved the photo above.

    I’m pretty sure they’re standing in front of a roller conveyor.
    Obama is staring at a conveyor that is doing nothing.
    The conveyor is staring back at a President that is doing nothing.

    Priceless. Thanks.

  19. My question is….Will we ever see any indictments/prosecutions relating to just one on the scandals d’jour?

  20. If you check out their S-1 filing (http://sec.gov/cgi-bin/browse-edgar?company=Solyndra&match=&CIK=&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany) you can get a flavor for this $535m loan. Here’s a company which burned through over $500m in cash, by Oct. 2009, and barely had any reported revenues. The who’s who in Silicon Valley was invested in this deal (all Obama contributors). Under any reasonable man theory, how could the DOE have approved this loan? Hell they took this money and build a brand new factory costing $700m! No wonder these guys went out of business. What a complete waste. Hopefully, taxpayers will get some of their dollars back, but I doubt they’ll get more than 20 cents on the dollar.



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