# $535 Million in stimulus to Obama's contributors



## zogman (Mar 20, 2002)

By MATTHEW MOSK and RONNIE GREENE 
ABC NEWS and IWATCH NEWS 
May 24, 2011

The Obama administration bypassed procedural steps meant to protect taxpayers as it hurried to approve an energy loan guarantee to a politically-connected California solar power startup, ABC News and the Center for Public Integrity's iWatch News have learned.

The Energy Department in March 2009 announced its intention to award Solyndra Inc. a $535 million loan guarantee before receiving final copies of outside reviews typically used to vet such deals. An independent federal auditor who has reviewed the energy loan program said moving so quickly without completing thorough reviews risked exposing the program to claims of political influence and put taxpayers at greater risk.

"There's a consequence if you don't follow a rigorous process that's transparent," said Franklin Rusco, an analyst with the Government Accountability Office. "It makes the agency more susceptible to outside pressures, potentially."

The Solyndra loan guarantee, advertised by the administration as part of its signature effort to create jobs while weaning the U.S. from traditional energy sources, already has drawn scrutiny on Capitol Hill. Republican members of the House Energy and Commerce Committee have requested documents from the Energy Department as part of an investigation into how the company qualified for government support and then, a year later, closed a plant, laid off workers, and eventually had to renegotiate the terms of the loan guarantee. The shortcuts at the dawn of the deal identified by government auditors have stoked more questions.


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## Plainsman (Jul 30, 2003)

Now they are going to claim bankruptcy. I wonder if their to honchos got big year end bonuses last New Years? I wonder how much of those big bonuses will find their way into Obama contributions? Remember last time Obama refused to identify many of his contributors. Just like the birth certificate and so many other things he hides. Remember that promise of transparency? I think he has broken more promises than he has kept.


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## zogman (Mar 20, 2002)

10% or 53.5 million gave to Obama/Democrat politicians...............


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## Plainsman (Jul 30, 2003)

Here is a related story:



> Before yesterday, I thought "Solyndra" was a food additive*. But now I
> suspect we'll be hearing a lot more about that company:
> 
> President Obama faces political catastrophe in the form of Solyndra -- a San
> ...


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