Solyndra, the now-bankrupt solar company to which Barack Obama gave a low-interest, taxpayer-backed loan of more than $500 million, has been under a grand jury investigation for at least two months, Politico reports. The company is under investigation for its handling of the Energy Department loan.
Analysts both within and outside the government had warned before the loan’s approval that Solyndra’s business model was doomed to failure. One analyst even correctly predicted the company would go bankrupt in September 2011. Industry analysts noted Solyndra was selling products for less than their cost.
But regardless of countless warnings from even his own administration’s experts, Obama and his cronies not only expedited the loan but touted it during a visit to the company’s facility. Vice President Biden announced the loan personally and Obama said companies like Solyndra were the future.
Why? Perhaps because the company’s main backer was a man named George Kaiser — a billionaire and donor to Barack Obama’s campaign. Even as Solyndra was having financial difficulties, Obama decided to allow Kaiser to take precedent over American taxpayers in recovering any losses from a bankruptcy.
A spokesman for the Federal Bureau of Investigation (FBI) confirms a joint investigation with the Energy Department’s inspector general is ongoing. Court filings by Solyndra’s law firm K&L Gates reveal more than two dozen meetings with investigators from the FBI and U.S. Attorney’s Office.
14. December 2011 at 1:20 pm
The level of corruption and cronyism in our country is starting to resemble Nigeria or a banana republic.
Consider also what just happened in a federal court in Texas. In this case, As described at http://LawInjustice.com , a Dallas business owner was involved in a civil dispute and paid millions of dollars to lawyers, and when he objected to additional fees after settling the case, they had a “friendly” judge, appointed by President Clinton, seize all of his possessions, without any notice or hearing, and essentially ordered him under “house arrest” as an involuntary servant to the lawyers, threatened that his orders are punishable “by death” and denied a jury trial. The business owner has been under this “servant” order for 10 months and is prohibited from owning any possessions, prohibited from working, etc..