The Solyndra hearings

As you know the House Energy and Commerce Committee is conducting hearings into the loan provided by the Department of Energy to the now bankrupt Solyndra.  This Friday Solyndra’s CEO, Brian Harrison, and its CFO, W.G. Stover, were expected to testify.

Although Messrs. Harrison and Stover will appear before the Committee as scheduled, we will not hear anything useful.  Their lawyers sent a letter to the Committee yesterday advising that their clients would be invoking their rights under the Fifth Amendment, and would refuse to answer any question.

Given the pending criminal investigation into Solyndra, this is probably a very smart move. 

But, there is something else that the Committee is also looking into.  The Department of Energy is now “fast-tracking” nine more “green energy” loans in an attempt to get them through the system by September 30. 

Why, you ask?

Well, all funding for these loans ceases as of October 1, and any unspent money cannot be spent.  After that date we would need another funding bill from Congress to continue the program, and, that is not likely to happen.

‘Given the apparent problems with the due diligence on the Solyndra transaction, the Committee is interested in learning more about the timelines of these deals and the due diligence conducted to close them on such a short timeline, said a letter sent to the feds by Republicans on the House Energy and Commerce Committee.

Any guesses as to what will happen to these loans?


10 replies
  1. Dimsdale
    Dimsdale says:

    Pleading the Fifth.? That pretty? much tells you all you need to know about this deal: coverup.
    Fast tracking more “loans” to beat the deadline smacks of an imperial administration desperate for votes, either by convincing the base that they are “green”, or just buying them the Chicago way.

  2. Brenden 2
    Brenden 2 says:

    So where did the money go?
    Can we expect to get any back?

    How much of this money was then re-drected back to the DNC or the Obama Campaign after the loans were approved?? ?

  3. Anybody but Obama
    Anybody but Obama says:

    Solyndra applied for a second loan of $469 million right after breaking ground on their plant expansion. I wonder if that got fast tracked and funded, could be the reason for using the Feds to raid the offices.

  4. ricbee
    ricbee says:

    Their refusal to testify should mean little as all the records are seized. If they do not go to jail it will be a terrible miscarriage of justice.

  5. Lynn
    Lynn says:

    Let’s see, the Department of Energy is supposed to wean us of our dependency on foreign oil and they are doing what???? Sort of brings a whole new meaning to” Newspeak”.

  6. JBS
    JBS says:

    Records? What records? Money? What money?
    Can we expect it back? Ha!
    The Obama regime is making this country look sooooo bad. People around the world, along with many Americans,? must be looking at this in wonder and shaking their heads. I am.

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