Special Report…9-14-11….President obamas administration, perhaps himself might be tied to a loan gone bad with a company called Solyndra, a solar power company that went under leaving American Tax Payers holding the bag.
President Obama visited the facility in May 2010, and said it was leading the way toward a brighter and more prosperous future. But only a month later the company laid off 100 employees and cancelled its plans for a public stock offering. two weeks ago, it filed for chapter 11 and fired another 1000 employees. FBI agents promptly raided the company’s corporate offices in California, according to The Lookout.
The question is of course what exactly happened, and how big will the fall out be for President Obama.
The accusation made by Republicans on the House Energy Committee are accusing the Obama administration of ignoring multiple signs that Solyndra was a bad bet. The commission lays out its case in a report that accuses the Obama Administration of pressuring the Dept. of Energy to approve a loan to the company so that the President can schedule his trip to California to promote the company as part of his energy and jobs vision in America. The Obama administration countered by saying all they did was inquire, but at no time did they pressure for approval. The White House said that scheduling a Presidential trip of any nature is a complex issue, and needed to know if the loan would be approved.
According to the Commission the President ignored warning signs that the company was in trouble, and then refinanced the loan in a way that effected tax payers twisting in the wind, they said.
Republican members of subcommittee suggested Wednesday that cutting such a deal was illegal and a violation of a provision of the Clean Air Act, said Ronnie Greene a reporter for Center for Public Integrity.
The implications of this newest development have caused even more concern in Democrat circles. They already have lost two key Special Elections in New York and Nevada. Now, they have this situation on the table as well. As the President ratings sink lower and lower, this issue will surely be more fodder to Tea Party opponents as well as Conservative Republicans trying take the White House in 2012.
However, the legal implications of this case are not yet clear. The FBI is still investigating and won’t release their findings until the inquiry is complete. Whatever the findings are any indication that the Obama Administration pressured Energy or any other agency to approve the loan for political gain could prove devastating for the Obama fledging campaign to retain the White House in 2012.
The Political Perspective is this; This President has always had a habit of being lose, and arrogant. He has persisted in doing as he wants, discarding Adviser’s input on very important issues. He seems to come off as if he won the presidency and as a result his perception of self is that he really does know more than anyone else. I’ve said before, I think it deserve saying again ” Ronald Reagan was one of the greatest Presidents this country ever had, agree with him or not, the reason for his greatness was not because of his wit, or extreme intelligence, but because he was able to recognize that he did not know it all. Therefore he obtained the best advisers that money could buy”!
This President might serve well to consider that strategy.