Help
FORUMS › General Discussions › Politics › Green jobs produce zero Green
TOPIC: Green_jobs_produce_zero_Green
Created by: Lucky2haveU
Original Starting post for this thread:
Obama administration officials raised a slew of concerns in 2009 over fears a solar energy project to be funded by the federal government would go broke in September 2011, emails released ahead of a congressional hearing Wednesday reveal. But the reality turned out to be much worse -- the entire company went bust this month after receiving the half-billion-dollar government loan. The emails show budget analysts felt rushed by the White House to review the $535 million loan guarantee in time for an announcement by Vice President Biden in September 2009. The concerns flared in August 2009 when staff with the Energy Department wrote of a "major outstanding issue," relating to the project's solvency.

But other administration officials presumed the parent company Solyndra, as well as private investors, would cushion the project and ensure its completion. The company itself filed for bankruptcy this month, putting taxpayers on the hook for a loan that ended up being about $528 million. The FBI raided the company on Sept. 8. A House Energy and Commerce subcommittee on Wednesday will probe how the loan was approved, at a hearing that's part of a seven-month investigation. One Republican aide said the emails released as part of that probe show the White House was more concerned with press events surrounding the loan than the soundness of Solyndra. The aide said "corners were cut." According to the House committee, the average review time for White House budget officials screening Energy Department loan guarantees is 28 calendar days. The committee said that for Solyndra, the first such loan guarantee made by the department, the review took just nine days. Officials expressed concern about the review process in the run-up to the Biden announcement. One White House budget official asked that the announcement "be postponed." Another email complained about "rushed approvals," and said "we are worried" about Solyndra. However, the announcement went forward as planned The emails show White House officials repeatedly checking with the Office of Management and Budget on the progress of its review of the loan ahead of the high-profile groundbreaking for the company's new factory. One email from a budget official referred to "the time pressure we are under to sign-off on Solyndra." One exchange showed a budget analyst in March 2009 warning the deal was "not ready for prime time," ahead of the Biden announcement. But the White House denied that it was trying to influence the result of the financial reviews, and it has defended the federal loan.

1 
1 to 3 of 3
User Details are only visible to members.
"Hey! My panties have a secret male thing, but my boobies and my brains should be exciting for the Boehner Boys Choir." [Typical brainless blogging, the Punkritudes of The Chupacabra].

Minneapolis MN
Username hidden
(9142 posts)
User Details are only visible to members.
This topic should scare the Canadian Moose into action.

Minneapolis MN
Username hidden
(9142 posts)
User Details are only visible to members.
Obama administration officials raised a slew of concerns in 2009 over fears a solar energy project to be funded by the federal government would go broke in September 2011, emails released ahead of a congressional hearing Wednesday reveal. But the reality turned out to be much worse -- the entire company went bust this month after receiving the half-billion-dollar government loan. The emails show budget analysts felt rushed by the White House to review the $535 million loan guarantee in time for an announcement by Vice President Biden in September 2009. The concerns flared in August 2009 when staff with the Energy Department wrote of a "major outstanding issue," relating to the project's solvency.

But other administration officials presumed the parent company Solyndra, as well as private investors, would cushion the project and ensure its completion. The company itself filed for bankruptcy this month, putting taxpayers on the hook for a loan that ended up being about $528 million. The FBI raided the company on Sept. 8. A House Energy and Commerce subcommittee on Wednesday will probe how the loan was approved, at a hearing that's part of a seven-month investigation. One Republican aide said the emails released as part of that probe show the White House was more concerned with press events surrounding the loan than the soundness of Solyndra. The aide said "corners were cut." According to the House committee, the average review time for White House budget officials screening Energy Department loan guarantees is 28 calendar days. The committee said that for Solyndra, the first such loan guarantee made by the department, the review took just nine days. Officials expressed concern about the review process in the run-up to the Biden announcement. One White House budget official asked that the announcement "be postponed." Another email complained about "rushed approvals," and said "we are worried" about Solyndra. However, the announcement went forward as planned The emails show White House officials repeatedly checking with the Office of Management and Budget on the progress of its review of the loan ahead of the high-profile groundbreaking for the company's new factory. One email from a budget official referred to "the time pressure we are under to sign-off on Solyndra." One exchange showed a budget analyst in March 2009 warning the deal was "not ready for prime time," ahead of the Biden announcement. But the White House denied that it was trying to influence the result of the financial reviews, and it has defended the federal loan.

Imperial MO
Username hidden
(12444 posts)
1 
1 to 3 of 3
TOPIC: Green jobs produce zero Green
This site does not contain sexually explicit images as defined in 18 U.S.C. 2256.
Accordingly, neither this site nor the contents contained herein are covered by the record-keeping provisions of 18 USC 2257(a)-(c).
Disclaimer: This website contains adult material. You must be over 18 to enter or 21 where applicable by law.
All Members are over 18 years of age.
Terms of Use | Privacy Policy
 
Copyright © 1998-2016 DashBoardHosting, LLC. All Rights Reserved.