Obama wouldn’t listen to top advisers, Geithner and Summers, about giving loans to Solyndra. Obama wouldn’t listen to advisers when they warned him not to visit Solyndra because of the “financial problems” they were having. Obama had to visit Solyndra because he was politically connected to Solyndra’s executives and Solyndra was the darling of his green energy jobs scheme.
From The Washington Post:
Administration officials and outside advisers warned that President Obama should consider dropping plans to visit a solar startup company in 2010 because its mounting financial problems might ultimately embarrass the White House.
“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.”
Steve Westly also received $465 million from Obama for his Tesla car company. This is the same Tesla that Al Gore is an investor in. Obama loves redistributing taxpayer dollars to those who gave to his campaign.
The warning, which did not convince the White House to drop the Obama factory visit, was detailed in e-mails released Monday by the Democratic minority on the House Energy and Commerce Committee. The panel is investigating a $535 million government-backed loan to the now-shuttered company.
Democrats said the e-mails demonstrate that there was no political favoritism for Solyndra or for the Obama fundraiser whose family foundation held an interest in the company. But the internal messages revealed for the first time the high level of White House interest in the startup and its faltering finances after the Energy Department backed it with $535 million in loans.
No political favoritism? Obama has given taxpayer-backed guaranteed loans to political donors. A top Obama bundler, Steven J. Spinner, is the one who pushed these loans. Democrats are in cover Obama’s ass mode. It’s all political and the typical Chicago style “pay-to-play” scheme Obama has used over and over.
On Monday, Obama made his first public comments about Solyndra’s collapse, saying that he does not regret supporting or visiting the company as part of his administration’s backing of clean-energy companies.
Of course Obama doesn’t regret giving away $535 million taxpayer dollars. It’s not his money that is being lost. Wonder if Obama believes these rich millionaires and billionaires are paying their “fair share” while doling out taxpayer dollars to them? Also, where in the Constitution does it grant the president the power to use taxpayer dollars as venture capitalists?
“Now there are going to be some failures,” he said in an ABC News/Yahoo online television interview. “Hindsight is always 20/20. It went through the normal review process and people thought this was a good bet.”
That’s another Obama lie. Auditors told the Energy Department that Solyndra was a risk and needed more due diligence. Obama’s own advisers, Geitner and Summer, warned him about granting taxpayer-backed loans to Solyndra. Obama’s 20/20 vision was blocked by his need to pay back his political allies.