Incompetence, criminal activity, or both. You pick...
Obama admin reworked Solyndra loan to favor donor *| ajc.com
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.Since then, the implosion of the company and revelations that the administration hurried Office of Management and Budget officials to finish their review of the loan in time for the September 2009 groundbreaking has become an embarrassment for Obama as he sells his new job-creation program around the country.
An Associated Press review of regulatory filings shows that Solyndra was hemorrhaging hundreds of millions of dollars for years before the Obama administration signed off on the original $535 million loan guarantee in September 2009. The company eventually got $528 million.
"If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu
Hey what's a half billion among friends - I mean after all they did create jobs for awhile, and just think now the workers can receive unemployment benefits which Nancy Pelosi assures us is an economic stimulus as they will still have money to spend.
in unspoken fears.
Can you say cronyism.
It's too bad that Obama will skate on this no matter what is turned up.