Looks like the White House was warned about restructuring the Solyndra loan, which, if you remember, illegally subordinated the taxpayers, leaving them on the hook for the $535 million dollar loan, putting investors (many of whom were big Obama donors) ahead of the taxpayers
(ABC News) Buried in the treasure trove of White House emails related to Solyndra released Thursday by the House Energy and Commerce Committee is one suggesting that concerns about Solyndra’s viability were shared all the way up to then-White House Chief of Staff Bill Daley a full six months before the company went bust.
First, some background.
We’ve known for a while that career analysts at the Office of Management and Budget had told the Department of Energy that they had concerns about Solyndra. The emails show that OMB analyst Kelly Colyar urged the company be shut down and its assets sold off in January 2011. Liquidating Solyndra then, she estimated, would limit taxpayer losses to $141 million. The Department of Energy’s plan to save the company by restructuring the loan, she warned in a January 2011 email, could mean losses “significantly HIGHER†for taxpayers.
Ed Morrissey wonders if Bill Daley would make that decision without check with his boss, Barack Obama
This, however, is much more serious. This is the first time Obama’s inner circle has been tied to the restructuring and its illegal subordination of those taxpayer loans. If Daley was briefed on the details of that restructuring before it got put in place and it still went forward, one can infer that Daley didn’t raise any objections to it. It’s hard to imagine that Daley would have gone out on that limb without getting approval from the man to whom he directly reported — Barack Obama.
Yeah, but it was in the name of “green” energy and jobs, or something. And Obama told us his plan worked!
Public Secrets has more, including a photo of Obama’s chief financial advisor.
