September 14, 2011
— Gabriel Malor

Solyndra's CEO and its Chief Financial Officer will skip today's House hearing that is investigating why the company got a suspect loan guarantee from the Obama Administration. They asked to appear next week instead:
Brian Harrison, Solyndra's president and CEO and Chief Financial Officer Wilbur Stover requested the delay and told House GOP aides late Monday theyÂ’re not planning to invoke their Fifth Amendment rights when they appear next week.FBI agents searched HarrisonÂ’s home earlier this month as part of an investigation with the Energy DepartmentÂ’s inspector general regarding SolyndraÂ’s handling of $535 million in federal loan guarantees.
Last month, the company filed for Chapter 11 bankruptcy protection and laid off 1,100 workers.
The House Energy and Commerce Committee will still question two Obama Admin officials who had input into the deal. At the top of the agenda: did the Obama Administration rush the deal for a photo op; and why did the Bush Administration say no to a loan guarantee for Solyndra?
Apparently, OMB projections at the time of the loan showed that Solyndra would run out of money in 2011. Actually September 2011. It sounds an awful lot like the risks were known. Did the Obama White House disagree with the risk assessment or just not care? I think we know the answer to this, but it will be instructive to watch a pair of Administration officials try and talk their way around it without perjuring themselves.
*Pic courtesy of @CuffyP.
Posted by: Gabriel Malor at
03:20 AM
| Comments (137)
Post contains 258 words, total size 2 kb.
Posted by: beanervt at September 14, 2011 03:30 AM (KZLoo)
Posted by: JimK at September 14, 2011 03:39 AM (8zxwd)
Posted by: SurferDoc at September 14, 2011 03:42 AM (STdkO)
Posted by: dfbaskwill at September 14, 2011 03:45 AM (ndlFj)
Posted by: Case at September 14, 2011 03:45 AM (FD6YW)
Posted by: sven10077 at September 14, 2011 03:47 AM (AEIYh)
Posted by: Lord Monochromicorn at September 14, 2011 03:48 AM (CAArl)
Posted by: Blaster at September 14, 2011 03:48 AM (Fw2Gg)
Posted by: Andy at September 14, 2011 03:48 AM (z6jMn)
But all this means nothing. Issa and Congress can "investigate" until hell freezes over, and the worst the Solyndra bagmen face is a sternly worded rebuke. Where are the indictments?
It's the old voter intimidation/F&F/presidential overstepping of constitutional bounds thing. Congress "investigates," the perps walk. Walk away.
Including the Perp-in-Chief, that stuttering clusterf*** of a miserable failure.
Posted by: MrScribbler at September 14, 2011 03:48 AM (YjjrR)
Posted by: sven10077 at September 14, 2011 03:49 AM (AEIYh)
Posted by: Andy at September 14, 2011 03:50 AM (z6jMn)
Posted by: Blaster at September 14, 2011 03:51 AM (Fw2Gg)
Posted by: Case at September 14, 2011 03:55 AM (DYR2Q)
........
That was half a Billion, not Trillion.. But, still, not exactly pocket change.
Posted by: Chi-Town Jerry at September 14, 2011 03:55 AM (UTq/I)
Posted by: sven10077 at September 14, 2011 03:56 AM (AEIYh)
Posted by: Chi-Town Jerry at September 14, 2011 03:57 AM (UTq/I)
Posted by: phoenixgirl at September 14, 2011 03:58 AM (eOXTH)
Posted by: somebody else, not me at September 14, 2011 03:58 AM (7EV/g)
Posted by: Blaster at September 14, 2011 04:00 AM (Fw2Gg)
Posted by: sven10077 at September 14, 2011 04:02 AM (AEIYh)
Posted by: Blaster at September 14, 2011 04:03 AM (Fw2Gg)
Posted by: phoenixgirl at September 14, 2011 04:04 AM (eOXTH)
Posted by: Blaster at September 14, 2011 04:04 AM (Fw2Gg)
Posted by: cherry pi, terrorist hostage taking SOB at September 14, 2011 04:05 AM (OhYCU)
The leftist's thiefdom is imploding and they have no one to blame but themselves and their chosen one.
The shadenboner is raging this morning.
Posted by: dananjcon at September 14, 2011 04:08 AM (8ieXv)
Posted by: izoneguy at September 14, 2011 04:08 AM (i6Neb)
Posted by: Case at September 14, 2011 04:12 AM (DYR2Q)
Posted by: Blaster at September 14, 2011 04:12 AM (Fw2Gg)
Posted by: cherry pi, terrorist hostage taking SOB at September 14, 2011 04:13 AM (OhYCU)
Posted by: Blaster at September 14, 2011 04:13 AM (Fw2Gg)
correct....
Bambi could have shaved off almost 100 Billion just by stripping his 20+ Tsars their "walking around money"....
if the GOP doesn't go for the jugular on this they are Stockholm'd by the media.
Posted by: sven10077 at September 14, 2011 04:13 AM (AEIYh)
I heard Bob Beckel say General Motors paid back their bailout loan. But I also heard Neil Cavuto say GM didn't really pay it back. Does anyone know what's going on here? Is GM playing fast and loose with the truth?
They paid back a portion of the loan that was due.
They paid it back with remaining loan proceeds.
That's not exactly paying back the loan. Beckel? fast and loose with the truth?? The deuce you say!
Posted by: Sean Bannion at September 14, 2011 04:14 AM (sbV1u)
Posted by: cherry pi, terrorist hostage taking SOB at September 14, 2011 04:15 AM (OhYCU)
GM gets the vast majority of their BAIL OUT converted into an "investment" by the government (a.k.a. The US Tax Payer) and then uses that money to pay off the remaining loan portion.
The US Tax Payer just got "paid back" with their own money! And the vast majority of the bail out got converted into an "investment" so they DON'T HAVE PAY IT BACK!!
The "investment" accepted GM stock as "payment" the stock went down in value while Ogabe is wildly looking to dump the stock.
GM got $50 billion TARP funds (never mind that TARP was only supposed to cover financial institutions). About $7 billion of that came in the form of a straight-up, low-interest loan. And about $13 billion came in the form of an escrow account.
If you think all this constitutes paying back their debt in full and ahead of schedule, you might want to check out the new line of GM cars. And hope that the companyÂ’s safety engineers are better at math than their CEO.
This is like my 11 year old "borrowing" 50 bucks to buy his mom a gift for her birthday and coming home with a 3 dollar fake rose and a 35 dollar leg fighter set.
Posted by: sven10077 at September 14, 2011 04:18 AM (AEIYh)
Posted by: cherry pi, terrorist hostage taking SOB at September 14, 2011 04:18 AM (OhYCU)
Posted by: Blaster at September 14, 2011 04:19 AM (Fw2Gg)
Posted by: sven10077 at September 14, 2011 04:19 AM (AEIYh)
Republicans are shameful racists and Obama means well. Standard fare.
Posted by: cherry pi, terrorist hostage taking SOB at September 14, 2011 04:22 AM (OhYCU)
And at some point he has to move beyond the country needs to be more like Texas. That's a hard sell even in Virginia
Exactly right. He's running the risk of looking like George Bush 2.0.
Sad thing is, I don't think he cares.
Posted by: Sean Bannion at September 14, 2011 04:22 AM (sbV1u)
Republicans are shameful racists and Obama means well. Standard fare.
This is how you know Scarborough is a lib.
When you catch a conservative on a point in an argument, he'll go away, do the reasearch and come back with facts that prove you wrong, or point out the other 8 facts that the lib left out of his original argument that don't support it.
When you catch a liberal on a point in an argument, he'll call you names like a four-year year old.
And if you think I'm wrong you're all poopy-heads.
Posted by: Sean Bannion at September 14, 2011 04:23 AM (sbV1u)
Posted by: Oldsailor's poet at September 14, 2011 04:24 AM (ZDUD4)
Really?
I would have thought Tardborough would have been trhilled. Turner is a NYC Republican, a creature that should be protected by the Endangered Species Act. Isn't his "republican" buddy Bloomy happy?
Posted by: sven10077 at September 14, 2011 04:24 AM (AEIYh)
I think he is not moral enough to be a liberal. He is a sellout. No more no less he is every bit the hired gun that Qadaffi's mercs were.
Posted by: sven10077 at September 14, 2011 04:25 AM (AEIYh)
Posted by: JackStraw at September 14, 2011 04:28 AM (TMB3S)
yeah it sure is awesome Barry Soetoro has such an awesome untroublesome wholesom extended family isn't it?
Perry is not Bush 2.0 and his governing of Texas shows it.
Perry is Bush 2.0 in the same sense that mitten is Dukakis 2000...
ie not at all
Posted by: sven10077 at September 14, 2011 04:28 AM (AEIYh)
Posted by: Auntie Entity at September 14, 2011 04:28 AM (FU3yL)
I think he is not moral enough to be a liberal. He is a sellout.
He's a sell-out I agree.
But if you thnik liberals are moral, I'd like to talk to you about a bridge in Brooklyn.
I seriously haven't met one yet. It always starts well. But after a while the mask slips. Behind all the touchy-feely-can't-we-all-get-along talk, they're all totalitarians. And frankly, that's evil. I've never met a lib who wasn't willing to use the threat of force to achieve what they thought was "right", "just" and "fair."
Posted by: Sean Bannion at September 14, 2011 04:28 AM (sbV1u)
see we're even-handed....
we grip the GOP candidate with both hands on their throat.
//M$M
Posted by: sven10077 at September 14, 2011 04:28 AM (AEIYh)
Posted by: cherry pi, terrorist hostage taking SOB at September 14, 2011 04:30 AM (OhYCU)
I think my body of work says enough about what I feel about the morality of Karl Marx's little enablers...
that said I respect the miniscule amount of moral loyalty the donks have to their misguided idiocy a lot more than I do to a guy who sold his Republican views for a gig on a 3d rate 5th class vanity network like MSDNC....
once upon a time Scarborough was conservative.
I am angrier at traitors than enemies.
Posted by: sven10077 at September 14, 2011 04:31 AM (AEIYh)
Perry is Bush 2.0 in the same sense that mitten is Dukakis 2000...
Yes, but that's not how he's going to be perceived if he keeps up the "we do everything better in Texas" schtick.
It's a hazard, and he needs to keep a lid on it. Jus' sayin'
As hard as it may be for Texans to accept, not everyone in the country wants to be a Texan.
Posted by: Sean Bannion at September 14, 2011 04:31 AM (sbV1u)
Posted by: dagny at September 14, 2011 04:31 AM (JeSIQ)
Posted by: Fritz at September 14, 2011 04:33 AM (/ZZCn)
To quote Lynard Skinnard, "ooh that smell."
Heard on the radio that Biden has an email stating that he needs to stop the West Wing if the government budget analysis of the Solyndra business plan is true. Who would have thought that Biden was the intelligent one in the WH? Biden is so smart that he documented his innocence via email. Wow, kudos to Biden. It really must suck to be Sparky on this one. No one to blame - he just might get to know the undercarriage of his funeral magic bus.
Posted by: Sub-Tard at September 14, 2011 04:33 AM (0M3AQ)
Posted by: Blaster at September 14, 2011 04:33 AM (Fw2Gg)
Posted by: Oldsailor's poet at September 14, 2011 04:33 AM (ZDUD4)
Posted by: cherry pi, terrorist hostage taking SOB at September 14, 2011 04:34 AM (OhYCU)
As hard as it may be for Texans to accept, not everyone in the country wants to be a Texan.
Posted by: Sean Bannion at September 14, 2011 08:31 AM (sbV1u)
Boy thats a relief, cause we got too many Yankees moving here as it is.
Posted by: Velvet Ambition at September 14, 2011 04:35 AM (KwL7a)
Posted by: Empire of Jeff at September 14, 2011 04:36 AM (l9zgN)
Posted by: cherry pi, terrorist hostage taking SOB at September 14, 2011 04:36 AM (OhYCU)
Who would have thought that Biden was the intelligent one in the WH? Biden is so smart that he documented his innocence via email
This does not surprise me.
Biden is a buffoon and the dimmest bulb in any room.
But he's also a political survivor and he knows, because he's an idiot, that no one is going to protect him if a scandal heads his way. So he keeps an eye out for his ass and cover it on a daily basis.
Seriously, for this reason alone, we would have been better off with a President Biden than JEF.
Besides, think of all the hilarious Jon Stewart routines that would spring from a Biden presidency.
Posted by: Sean Bannion at September 14, 2011 04:36 AM (sbV1u)
Boy thats a relief, cause we got too many Yankees moving here as it is.
Don't get too comfortable, I'm looking for a job in Houston. ;-)
Posted by: Sean Bannion at September 14, 2011 04:37 AM (sbV1u)
Thanks for the info guys. I knew Beckel was full of sh*t when Cavuto said GM really didn't pay it back. But Cavuto did not go into any detail.
All this is so depressing. Our own government ripping off the country. And because its the government I guess its suppose to be legal.
Posted by: Case at September 14, 2011 04:37 AM (DYR2Q)
Posted by: Joffen at September 14, 2011 04:38 AM (EPcuy)
Don't get too comfortable, I'm looking for a job in Houston. ;-)
Posted by: Sean Bannion at September 14, 2011 08:37 AM (sbV1u)
You will like it here, it was just 102 yesterday but a cold front is coming in next week and they say in will drop into the low 90's
Posted by: Velvet Ambition at September 14, 2011 04:40 AM (KwL7a)
Posted by: JackStraw at September 14, 2011 04:41 AM (TMB3S)
You will like it here, it was just 102 yesterday but a cold front is coming in next week and they say in will drop into the low 90's
My Dad lives in Dallas, he likes it. But I can't stand Dallas.
I'll do Houston, Galveston, San Antonio, Austin, or even El Paso. Just something about Dallas that rubs me the wrong way.
Posted by: Sean Bannion at September 14, 2011 04:41 AM (sbV1u)
Posted by: cherry pi, terrorist hostage taking SOB at September 14, 2011 04:42 AM (OhYCU)
Posted by: blaster at September 14, 2011 04:42 AM (Fw2Gg)
Posted by: Case at September 14, 2011 04:45 AM (DYR2Q)
Posted by: Wonkish Rogue at September 14, 2011 04:45 AM (dSUKw)
King Obama can be as corrupt as necessary. Please do not question his highness or his subjects. TAX payers will simply be asked to pony up more to cover the corruption gap.
...In the New Energy Ecconomy.
Posted by: Lemon Kitten at September 14, 2011 04:45 AM (0fzsA)
Apparently, OMB projections at the time of the loan showed that Solyndra would run out of money in 2011. Actually September 2011.
Damn, that's pretty good. Too bad Teh One (aka SCoaMF) didn't listen. I guess he thought there would be no math in this exam...
Posted by: I R A Darth Aggie © at September 14, 2011 04:46 AM (1hM1d)
Posted by: Empire of Jeff at September 14, 2011 04:46 AM (vzFJV)
Posted by: sven10077 at September 14, 2011 04:47 AM (rpQ/V)
Posted by: Peregrine Took, Hobbit Barbariarian at Biden's Gates of Mordor at September 14, 2011 04:47 AM (64S5N)
It took me three years to lose $800,000 on my restaurant.
Hey, wanna open a bakery with me? If we don't lose all the capital in the first 3 years we can amuse ourselves by consistently keeping our employee roster under 50 just to frustrate the Great Nanny State.
Posted by: Sean Bannion at September 14, 2011 04:48 AM (sbV1u)
Posted by: blaster at September 14, 2011 04:48 AM (Fw2Gg)
Posted by: chillin the most for Perry at September 14, 2011 04:48 AM (6IV8T)
Posted by: Empire of Jeff at September 14, 2011 04:49 AM (l9zgN)
Posted by: Woodward & Bernstein at September 14, 2011 04:50 AM (3W5aC)
So they get to say, "Sorry, Representatives, but this hearing doesn't fit into our schedules. Can we do next week instead so we have time to get our stories straight with the Administration?"
I'm fairly certain if I tried to pull that same crap with a House hearing after essentially stealing half a billion dollars from the government, I'd be given a resounding, "NO," in response.
Posted by: MWR, Proud Tea(rrorist) Party Hobbit at September 14, 2011 04:50 AM (4df7R)
Posted by: Joffen at September 14, 2011 04:51 AM (EPcuy)
Thus far everything IS better in Texas, and that's coming from an Ohioan who has seen a lot of the country.
Dude, I know. I've lived there. Kileen, 1990. After 21 years in uniform, I've lived all over the country too. I spent a lot of time traveling Texas in my off time. I like it.
The problem is, as JackStraw noted above, that Perry needs to make the leap from Governor to national candidate. He can't do that if he keeps pointing to Texas.
For the average low-information voter out there (and that's the majority of the electorate) Texas is a bug, not a feature. The stereotypes of Texas exist in their minds (and nowhere else) and Perry just needs to realize that. He should play to his strengths, yes. But his answer to every single question sould not be "Texas!!!111!!!! elevnty!"
Posted by: Sean Bannion at September 14, 2011 04:52 AM (sbV1u)
Posted by: blaster at September 14, 2011 04:52 AM (Fw2Gg)
Posted by: cherry pi, terrorist hostage taking SOB at September 14, 2011 04:54 AM (OhYCU)
Posted by: Empire of Jeff at September 14, 2011 04:54 AM (vzFJV)
And sure, Sean. I can make brioche that looks just like a titty.
Is there any other kind?? I'll handle the bread, you handle the viennoiserie
Posted by: Sean Bannion at September 14, 2011 04:56 AM (sbV1u)
Posted by: Barney Frank at September 14, 2011 04:57 AM (ZDUD4)
Posted by: Empire of Jeff at September 14, 2011 04:58 AM (vzFJV)
Reason for delay: getting their stories straight. If I were the investigators I would want to know who they or their lawyers spoke to in the interim. Anyone from the Obama administration?
Obama '12: It's Not Obstruction of Justice If You're Green
Posted by: The Regular Guy at September 14, 2011 04:58 AM (qHCyt)
Posted by: blaster at September 14, 2011 04:58 AM (Fw2Gg)
Posted by: Oldsailor's poet at September 14, 2011 05:00 AM (ZDUD4)
Handle your own vienna sausage, you creepy Cav puke.
If you ain't Cav, you ain't shit.
(Of course, I never understood the double negative. They cancel each other. It really means if you are Cav, you are shit. Of course, my Squadron Commander told me to STFU.)
Posted by: Sean Bannion at September 14, 2011 05:00 AM (sbV1u)
Posted by: Oldsailor's poet at September 14, 2011 05:02 AM (ZDUD4)
The narrative on Solyndra should be easy. This company applied for a loan under this program under the Bush administration, and was turned down because it was not promising enough
It should be easy enough. But I'm too cynical, I've spent too many years watching "journalists" turn facts into pretzels. Notice the first response from the left yesterday. "Bush took loan applications from Solyndra too!!"
Then they downplayed the whole part where those applications were denied.
The real story should have been "Obama Administration Finds That Math is Hard."
Posted by: Sean Bannion at September 14, 2011 05:03 AM (sbV1u)
Apparently, OMB projections at the time of the loan showed that Solyndra would run out of money in 2011. Actually September 2011.
Where's the cite for this? It's great stuff, if true.
Posted by: The Regular Guy at September 14, 2011 05:04 AM (qHCyt)
Posted by: Empire of Jeff at September 14, 2011 05:04 AM (vzFJV)
"Because it... Look, you don't- GET DOWN AND DO SOME FUCKING PUSHUPS!"
Lemme see, don't tell me, usually delivered by some E-6 with a 92 ASVAB score, right?
I went to Infantry OSUT in '82 because I had enlisted in a Reserve unit as part of my ROTC scholarship program. I got that a lot.
"C'mere College Boy! Do push ups until I get tired!"
Posted by: Sean Bannion at September 14, 2011 05:07 AM (sbV1u)
PWC issued a "going concern" audit opinion in 2010, 2 months before Obama's speech
Posted by: cherry pi, terrorist hostage taking SOB at September 14, 2011 05:08 AM (OhYCU)
PWC issued a "going concern" audit opinion in 2010, 2 months before Obama's speech
See, that's the thing I hate about DC. Even with the smallest routine actions, we have to worry about "optics." If the optics are good, they''' do it anyway. No matter what "it" is or even if "it" is a smart decision.
How about just giving the taxpayer what they're paying for? How about that?
However, I will say, I've never seen a group of staffers and cabinet officials in multiple agencies who were as incompetent as this current crew. Nor have my peers. And that's really saying something since my office is mostly Dems.
Posted by: Sean Bannion at September 14, 2011 05:11 AM (sbV1u)
Posted by: Empire of Jeff at September 14, 2011 05:13 AM (l9zgN)
My Dad lives in Dallas, he likes it. But I can't stand Dallas.
I'll do Houston, Galveston, San Antonio, Austin, or even El Paso. Just something about Dallas that rubs me the wrong way.
Yea, but if you had one of them Dallas Cowboy cheerleader rubbing you it would not be the wrong way. IYKWIMAITYD
Posted by: Velvet Ambition at September 14, 2011 05:18 AM (KwL7a)
Yea, but if you had one of them Dallas Cowboy cheerleader rubbing you it would not be the wrong way. IYKWIMAITYD
Oh, do they issue one when you move within the Dallas city limits?
'Cause in that case I'll be there next week.
Where do I put my order in for a ginger?
Posted by: Sean Bannion at September 14, 2011 05:20 AM (sbV1u)
Posted by: FRONT TOWARD LEFT at September 14, 2011 05:22 AM (cbyrC)
Posted by: Jean at September 14, 2011 05:26 AM (tvOF2)
Posted by: Jean at September 14, 2011 05:30 AM (tvOF2)
Posted by: Jean at September 14, 2011 09:30 AM (tvOF2)
Or their lifeless body not found in a park and ruled suicide
Posted by: Velvet Ambition at September 14, 2011 05:40 AM (KwL7a)
Posted by: Arcade Hero at September 14, 2011 05:44 AM (CGzVV)
*SNORT* This whole issue is a result of the 2010 mid-term elections. Had the Dems. held the House, there would be nothing going on. Another huge "stimulus" or three would have been taken place by now, and Solyndra would be progressing with their ill gotten gains courtesy of the tax payers. However, as the Repubs. now control the House, no freebies are going out.
Think about it. This is just the beginning. There are, likely, a number of companies (greenies) out there that going loans or handouts by this administration that are teetering on the cusp and dependent on another handout. The cards...they are falling.
Cheers,
The Worm
Posted by: The Worm at September 14, 2011 06:00 AM (+jY+B)
Posted by: TheQuietMan at September 14, 2011 06:13 AM (1Jaio)
This timeline is damning:
March 2010 : PricewaterhouseCoopers issues a report that raises serious doubts about Solyndra's future. From the audit: “The Company has suffered recurring losses from operations, negative cash flows since inception and has a net stockholders’ deficit that, among other factors, raise substantial doubt about its ability to continue as a going concern.”
May 2010 : President Obama visits Solyndra, touting the company as a symbol of progress to cheers from workers and California leaders. “The true engine of economic growth will always be companies like Solyndra,” he said.
So the White House -- which, believe you me, vetts every speech and every appearance by the President (and, really, any President), knew that there was this PWC report out there questioning the viability of Solyndra. But the President went there anyway.
What did Obama know? When did he know it? Ask the damn question.
Posted by: The Regular Guy at September 14, 2011 06:16 AM (qHCyt)
Posted by: ChristyBlinky at September 14, 2011 06:42 AM (baL2B)
Posted by: FRONT TOWARD LEFT at September 14, 2011 06:44 AM (cbyrC)
Posted by: mpfs, TPT & Barbarian at September 14, 2011 06:47 AM (iYbLN)
Posted by: mpfs, TPT & Barbarian at September 14, 2011 06:48 AM (iYbLN)
They asked to appear next week instead
To which the House should have said 'Your company is broke, its not like you need to go in to the office any more.'
Posted by: Sol Rosenberg at September 14, 2011 08:05 AM (UU0OF)
Posted by: jonathang at September 14, 2011 10:18 AM (aYOnh)
Posted by: steevy at September 14, 2011 01:10 PM (fyOgS)
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Posted by: Vic at September 14, 2011 03:23 AM (M9Ie6)