This is, obviously, another very bad idea by the man in the oval office at the white house probably suggested by his communist advisors!

 

By Andrew Restuccia - 09/14/11 05:43 PM ET 

Republicans blasted Obama administration officials Wednesday for green-lighting a $535 million loan guarantee to Solyndra, a now-bankrupt California solar company with close ties to the White House.

The GOP attack at a House Energy and Commerce subcommittee hearing focused on emails they said showed the White House tried to rush a final decision on Solyndra’s financing so that Vice President Biden could announce approval of the loan guarantee at the September 2009 groundbreaking for the company’s new factory.

“The documents demonstrate that, when DOE was reviewing the Solyndra guarantee in 2009, it was well aware of the financial problems the deal posed,” Rep. Cliff Stearns (R-Fla.), chairman of the panel’s Oversight and Investigations subcommittee, said Wednesday.

 

“What the documents show is that the rush to push out stimulus dollars may have impacted the depth and quality of DOE and OMB’s review.”

The documents left the White House scrambling to defend its clean-energy agenda, in which President Obama has invested a huge amount of political capital.

Jonathan Silver, the executive director of the Energy Department’s Loan Programs Office, insisted at the hearing that Obama administration staff did not feel pressure to quickly finalize financing for the project.

White House press secretary Jay Carney also rejected allegations that the administration rushed the review of the loan guarantee, arguing that the emails pertain to a “scheduling matter.”

“What the emails, I believe, made clear is that there was urgency to make a decision about a scheduling matter,” Carney told reporters on Air Force One Wednesday.

“As you know, and you are familiar with it in a way that most Americans aren’t, it is a big proposition to move the president or to put on an event and that sort of thing. So people were simply looking for answers about whether or not we could move forward.”

read more here:  http://patdollard.com/2011/09/white-house-scrambles-to-eclipse-gop%...