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Solyndra: You Like It, You Love It, You’re Getting More Of It

Do you like what the genius “investors” of the Obama Administration have been able to do with “green energy” stimulus money at Solyndra?  Well, you ain’t seen nothing yet.  There’s more coming.  Lots more.

John Rossomando of The Daily Caller found four more Solyndra-type loan guarantees, each over $500 million, to solar panel companies.  Their stock prices have been falling, but they’re lined up to get even more taxpayer money.  All of them count top Democrat donors among their executives and board of directors, of course. 

One of these companies, SolarReserve of Santa Monica, sits in the investment portfolio of The Most Important Man In America, billionaire George Kaiser.  SolarReserve just scored a sweet $737 million Energy Department loan guarantee.  One board member pumped over $30,000 into Obama’s 2008 campaign.  The company paid $100,000 to a lobbying firm run by the brother of John Podesta, who headed the Obama transition team.  One of their investment partners is a firm that counts House Minority Leader Nancy Pelosi’s brother-in-law as a top executive.  The $737 million you’ll be forced to give them will finance 600 temporary construction jobs and 45 permanent jobs.

Another company, First Solar Inc. of Tempe, Arizona, lost out on a $1.9 billion loan for a solar power complex due to post-Solyndra jitters in Washington, but no worries – they’ve already got preliminary approval for $680 million and $1.88 billion loan guarantees to cover other projects.  After they came up snake eyes on the $1.9 billion loan, their stock plunged over 9% in a single day.  Their founder and chairman is a six-figure Democrat donor, and they used one of the same lobbying firms as Solyndra.

The most bizarre passage in the Daily Caller piece is what happened when the intrepid reporter tried to get in touch with the White House:

Asked Wednesday to comment on the connection between large Democratic donors and Obama administration loan guarantees to the companies they represent, the White House responded to TheDC with a single sentence: “We refer your question to the Democratic National Committee.

(Emphasis mine.)  So we’re supposed to direct inquiries about billion-dollar corruption scandals to Debbie Wasserman-Schultz?  That would be somewhat entertaining, but not very enlightening. 

I know it’s almost passé at this point to play the “What If A Republican Did It?” game, but just imagine the New York Times was looking into a story about Halliburton blowing through hundreds of millions of taxpayer dollars, and being told by the Bush White House to quit bugging them and call the Republican National Committee instead.

ABC News tells us just how lucrative big Obama donations can be, for those with good Party credentials:

Several of Barack Obama’s top campaign supporters went from soliciting political contributions to working from within the Energy Department as it showered billions in taxpayer-backed stimulus money on alternative energy firms, ABC News and iWatch News have learned.

One of them was Steven J. Spinner, a high-tech consultant and energy investor who raised at least $500,000 for the candidate. He became one of Energy Secretary Steven Chu’s key loan program advisors while his wife’s law firm represented a number of companies that had applied for loans.

“There is great concern over political influence contaminating the DOE loan guarantee program,” said Rep. Cliff Stearns (R-Fla), who chairs the House Energy and Commerce Committee’s Oversight and Investigations Subcommittee. “The prevalence of fundraisers and bundlers scattered throughout DOE is cause for alarm and is a subject our investigation does not take lightly — we are looking into this and will see where it leads us.”

The Department of Energy is racing a Friday deadline to hand out another $5 billion of your money to “green energy” crony capitalists, so you can expect the last-minute loans to enjoy the same kind of rigorous scrutiny as Solyndra did.  

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Written By

John Hayward began his blogging career as a guest writer at Hot Air under the pen name "Doctor Zero," producing a collection of essays entitled Doctor Zero: Year One. He is a great admirer of free-market thinkers such as Arthur Laffer, Milton Friedman, and Thomas Sowell. He writes both political and cultural commentary, including book and movie reviews. An avid fan of horror and fantasy fiction, he has produced an e-book collection of short horror stories entitled Persistent Dread. John is a former staff writer for Human Events. He is a regular guest on the Rusty Humphries radio show, and has appeared on numerous other local and national radio programs, including G. Gordon Liddy, BattleLine, and Dennis Miller.

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