The question is, did they get it?
Failed solar panel maker Solyndra’s Securities and Exchange Commission filings show that seven months after the Obama administration’s Department of Energy approved a $535 million federal loan guarantee, Solyndra applied for a second one valued at $469 million.
“On September 11, 2009, we applied for a second loan guarantee from the DOE, in the amount of approximately $469 million, to partially fund Phase II,†Solyndra wrote in a report it filed with the SEC on December 18, 2009. “If we are unable to obtain the DOE guaranteed loan in whole or in part, we intend to fund any financing shortfall with some combination of the proceeds of this offering, cash flows from operations, debt financing and additional equity financing.†(snip)
It’s unclear if the now-bankrupt and scandal-embroiled green energy company actually received a second loan. Department of Energy officials did not immediately respond to The Daily Caller’s request for comment, and the company’s SEC filing left the question open.
Ace has a long discussion on the subject, well worth the read. And make sure you check out the story at LA Observed, which scooped everybody.
Treehugger is attempting to find all sorts of equivalence in the military sector, saying that the wastefulness is even worse in that sector, and those who think this is a scandal when it is a “non-scandal of the truest kind” are anti-clean energy. Psst: we have a big problem with wasting money in the military sector, too.
More:Hey, Treehugger, looks like this non-scandal of the truest kind is becoming a bit more of a scandal
The Obama administration restructured a half-billion dollar federal loan to a troubled solar energy company in such a way that private investors —including a fundraiser for President Barack Obama —moved ahead of taxpayers for repayment in case of a default, government records show.
So, in order to get this loan for a company that would be going nowhere but the ash-heap, Obama just lost the American taxpayer half a billion dollars, all to push his political agenda.
Oh, I bet they did get the loan. And, I bet too, that it was off the books – or tied to some other project’s budget – like stimulus funding – or FAA.
Please sir, may I have some more?
If a business is meant to survive, they ought not to get federal dole outs. (ie Amtrak and other often failing rail services) If it is meant to research, produce, thrive and prosper it will do it on its own merit, not on the generosity of an agenda ridden government blithely handing out tax dollars to an unproven entity.
WTF????? Let’s see if gubmint would fund a new company interested in exploration of fossil fuels, and drilling and refining of said??? Nope, didn’t think so.
This is highway robbery of the American tax payer. And the left is curiously silent. It’s their very own Halliburton moment, but with facts to prove the wrong doing. And they are mum. MSM is behaving like a bunch of criminals themselves.