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Bankrupt Obama Stimulus Darling Raided By Feds
After breaking the story of Solyndra's shady taxpayer funded practices (which were not enough to stave off bankruptcy, and yet another confirmation that government stimulus in the form of subsidies is virtually always an epic failure), Bruce Krasting subsequently delved into the one entity that somehow had managed to get priority interest to subordinated government loans to the tune of $528 million in government funding: Argonaut Ventures, and specifically one George Kaiser who just happens to be a material fund-raiser for the president. And while it is not known yet whether the embedded improprieties in this peculiar relationship will end Obama's chances for reelection, things are starting to stink. Because as Bloomberg reports, as of a few hours ago, the company's headquarters was raided by the Feds. While at this point they are certainly looking for signs of criminal malfeasance by management, it won't be long before they put two and two together and decided to analyze the logic behind the funding, and why it is that an Obama-favored person will get his money out first while US taxpayers will likely suffer a total wash.
From Bloomberg:
Solyndra LLC, the bankrupt solar- panel maker that was backed by the Obama administration, is being raided by the Federal Bureau of Investigation today, an agency spokeswoman said.
“We’re executing a search warrant jointly” with the Department of Energy inspector general “regarding an investigation,” FBI spokeswoman Julie Sohn said of the raid at the company’s Fremont, California, headquarters offices and plant. Sohn said she couldn’t provide details about the investigation.
The company, whose $535 million federal loan guarantee was criticized by Republicans, filed bankruptcy on Sept. 6, six days after shutting down its factory and firing 1,100 people.
Former Solyndra employees sued the company, claiming it failed to give the warning required under federal law before shutting down and firing them.
Solyndra said it failed because it couldn’t compete with foreign manufacturers funded by their foreign governments. The U.S. Federal Financing Bank, owned by the U.S. Treasury Department, is the company’s biggest lender, according to court papers.
Something tells us that the word Solyndra will see precisely zero mentions in a word cloud of Obama's speech tonight.
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dam... speechless
The Bummah ... Shit Starts Hittin' The Fan, Bitchez ...
The other part of that story is the 20 White House visits by Solyndra reps.
http://dailycaller.com/2011/09/08/solyndra-officials-made-numerous-trips-to-the-white-house-logs-show/
Conveniently, the offices were raided just as a congressional investigation was to begin on Wednesday.
http://abcnews.go.com/Blotter/solyndra-congress-calls-hearing-loan-conne...
"Senate investigators have begun seeking answers from the administration about the deal" Now they can't talk because of an "on-going investigation". How convenient.
You can't have injustice without mopolized securing of the evidence.
Federal Beureu of Covering Ass is working as intended.
Hahaha!
Rush Limbaugh now just talked about Solyndra and Obama. Say what you want, he has a LARGE audience.
Stop the corruption! Get on this story State Run Media!
That's Kablamo!
Hey sweetie!
Ask and ye shall receive.
ABC has the story
FBI Raids 'Connected' Energy Firm Solyndrahttp://abcnews.go.com/Blotter/fbi-raids-connected-energy-firm-solyndra/s...
Not to worry, Eric Holder is on the job. Nobody gets prosecuted.
Place Holder! More like he is in the job than on it, but I hear ya!
Be sure to shred those documents once you've seized them, boys. We can't have anything that connects this to Obama. Consult the SEC shredding guidelines if you need to.
Indeed, note how the FBI told Iowa State in Ames to destroy its massive Anthrax archive in early-October 2001 just as the Anthrax bioterrorism event got underway.
http://www.nytimes.com/2001/11/09/us/nation-challenged-inquiry-experts-s...
WTF was that? Those Anthrax samples were crucial forensic evidence for tracing the source of the Anthrax attacks and the FBI knew it would be overseeing the investigation. So why would elements in this organization order such crucial evidence to be destroyed from the start?
If you think Bruce Ivins was behind the 2001 Anthrax mailings, dream on.
Then there's the whole SEC covering up Wall Street crimes bit pointed out by Matt Tiabbi last month:
http://www.rollingstone.com/politics/news/is-the-sec-covering-up-wall-street-crimes-20110817
Sorry....a bit off topic, but my guess is that we will see the same sort of malfeasance here since Obama is one of "those people" at the pinnacle of U.S. power that are part of our own undoing and he is, in this sense, untouchable:
http://thespiritoftruth.blogspot.com/2011/04/welcome-to-my-world-obama-r...
http://thespiritoftruth.blogspot.com/2011/04/madelyn-dunham-connection-obamas-ct.html
The evidence will dissappear accordingly.
Raided to make sure all incriminating evidence is destroyed.
Boy... We Used To Think: "Nobody Could Be Worse Than Bush, Right ?" ...
Well...
It was obvious to anyone paying attention that Obama would be worse than Bush.
Agreed, and Jimmy Carter owes Obummer many thanks....just sayin.
yeah, owebama is bush wthout the humor.
A fiesty criminal is fun , but this drab and dreary Owebama takes all the fun out of the rampant criminality on display in this wasteland.
Every new president will be worse than the last, it's about the only thing in this world one can count on. And it's not the president is worse per se, but the agenda must roll forward.
The FBI cant destroy the records and emails of Obamas DISMAL approval ratings.
Oh come on now. That whole 3 or 4 weeks of President obama's approval ratings moved sharply up past 50 percent period that the mainstream media was forking out was hilarious. Greenshoots version 3 beginning of the summer. Before natural disasters started befalling everyone.
We all know now where SEC matters under investigation go.
http://www.nytimes.com/2011/08/18/business/sec-illegally-destroyed-documents-whistle-blower-alleges.html?_r=1
Until the headline reads...
FEDS RAID GOLDMAN SUCKS, CITI, JPM THIS IS ALL BS NOISE TO KEEP THE SHEEP THINKNG THE FEDS ARE LEGIT....HAHAHAHAHA
As for OBAMA memory hole in 10 seconds, PACKERS TONIGHT!!!
Cleansing the files for Obummer.
That was my first thought. Of course the official story will be "Obama getting to the bottom of this regrettable circumstance" or something similar. Throw another person under the bus to hell. That's the only thing Obama is good at.
Sterilize it how? We already know all about it.
i thought so too...
Creating and setting up the scapegoat
The devil's in the details.
The details are in the shredder.
Maybe somebody is trying to get rid of the POS in the White House. We can hope.
Friends of Hil.
Exactly right. The Obummer is becoming quite an unpopular albatross puppet of the central banksters...the charade that 'oh no, everyone really likes him' is played out big time. Its crunch time, and I dont even doubt the stories that what the banksters really need now is a good JFK part II right now.
All true SD, but man they have that guy well trained. HE can work some NLP, voice-witchcraft magic on a crowd like a magician.
My ex-wife, a generally smart lady, sent me pictures of th eAmerican Get together in PAris the night he was elected. Teras of joy runnign down their collective, rather dumb faces, like they had seen the messiah and it was him.
That deep a belief is hard to lose. It's like th efall of Tiger Woods, which I believe was a test run (public/black population reaction) for the fall of Messama!
V
HEY AMERICA!
Dude; I think you accidentally turned off spell-check'.
I will counter that snide remark with this; I truly enjoy your writing and look forward to your blog posts in my email :-)
They are going to paint this as a greedy rich guy stealing money from the company and ruining it. No way they'll touch Obama on this.
My thoughts exactly - Obama is trying to get in there first and "lose" what needs to be lost fast.
Look at Halliburton - no bid military contracts (with soldiers dying in shoddily constructed facilities and paying a fortune for crappily done serveces), exemptions from the Clean Water Act for fracking compounds and far more. Considering that the company was headed for bankruptcy courtesy of asbestos claims - courtesy of an acquisition made under CEO Cheney - they've sdone VERY well. AS did Dick - who kept all his shares and options.
When things like those go uninvestigated, you know that the law doesn't apply to the favored few at the top - no matter what party.
ANd BTW - Obama 'mmoved on' - no investigations into ANYTHING done under W's tenure despite clear violations of law...never moind the missing billions and war profittering and shoddy products (like body armor).
If you've the mind for it, look into the employment strategies used by US contractors on bases for civilians. Then compare & contrast for Dubai.
Its a slightly more friendly version of the same game: start with Filipino hair dressers caught in contracts... with added sexual abuse thrown in for good measure.
No-bid contracts aren't that rare. Halliburton got no-bid contracts in Bosnia under Clinton too. I'm not saying the W administration wasn't corrupt, but this constant bashing of Halliburton is ridiculous. How much would you charge to drive a fuel tanker in Iraq or Afghanistan? Those guys are paid $200K or more per year and that wouldn't be enough for me and in my opinion, we shouldn't even be occupying those countries.
As far is Cheney keeping all his Halliburton stock and options, that's an outright lie. It was widely reported by every news outlet when Cheney liquidated his HAL shares. If you have any information that he kept his shares and options, bring it forth. I'm no fan of the neocons Bush and Cheney, but don't bring that ignorant bullshit here.
So, a joint FBI, DoE Inspector General raid?
Sounds like Chu is trying to tie up some loose ends and clear his name while running interference for Obummer.
So this is why the result from those stimulus went MIA....
Way to Effin Go Bruce! Nice!
Bruce, and others like you, give the profession of journalism integrity. Thank you!
Pass the beer nuts. This is starting to get good.
Lightning Strikes Twice BK! White on rice I tell you.
www.silverrevolucion.com
The incriminating Emails will disappear, the books will be cooked after the fact and then presented; the bank accounts will be "frozen" for 50 years.
Holder's stick save of Obama
BK's article picked up by others; getting wide coverage in the alternate media; but nothing in the MSM, except a brief reference by FOX on the green job disaster meme, but not on the corruption.
We already know Obama funneled $535 million sweetheart loan to them and the no strings attached conditions, I dont know what you people are talking about with 'theyll erase all that'. Um, we already know it...what is it now 5 year old rules apply? If you cover your eyes with your hands, youre invisible?
Very funny SD, made me laugh!
You are stating the obvious. Naked Emperor. No Caveat. No Empty Or!
V
Cheney - Halliburton....... any questions?
Cheney isn't president and Halliburton didn't get a $535mm taxpayer loan to make solar panels. Nice to try save your Messiah though. Charge Cheney with something and let him and Barry share a prison cell
Pretty much nuts on. My 1st thought was Feds going in to "clean" up evidence and data about how hte money was used and the condition of the company before the loan. And remember if the MSM didn't report it then it didn't happen. We all know it won't show up on most MSM news mouth pieces and likely not even on Faux News, can't go exposing corruption after all. That's the wonderful thin about corruption if everyone is corrupt then no one can speak out without incriminating themselves.
>We all know it won't show up on most MSM news mouth pieces and likely not even on Faux News, can't go exposing corruption after all.
But this news is bad for Obama. MSM wants Obama to win - which he will.
Drudge has it up. That gets LOTS of eyeballs.
It makes sense. Blame a puppet. Have MSM pick up a fall guy while the real criminals walk with fraudulent conveyances.
The Center For Public Integrity has been on top of this story for months:
http://www.iwatchnews.org/environment/energy/solyndra
Interesting. I hope this story gets more light. It seems some weren't allowed to do the required due diligence.
Skipping safeguards, officials rushed benefit to a politically-connected energy company
http://www.iwatchnews.org/2011/05/24/4710/skipping-safeguards-officials-...
Sadly... this raid is meaningless. The DOJ is inhabited with the same vile kosmokratoras as the White house.
As long as the barn door gets closed, who cares if all the horses got out? What's important is that they DO SOMETHING!!111!!
They'll drag out some middle-manager for a perp walk one day soon, and toss his ass under the MSM bus.
Exactly.
Sad that it'll probably be coming right around Thanksgiving for that poor sucker.
+ Ordo ab Chaos
What's a few million between friends? They can just print more...I mean that's like $0.0005 trillion Benny Bucks...just sayin'.
Don't get me wrong, I like seeing dirty laundry aired, but doesn't this kind of thing happen all the time?
Always good to see the Prez take some heat; I hope it blows up & Obama is made to answer for it. My cynical side prevents me from getting too excited, though.
Solyndra is small potatoes...the real thing set to blow Obama and all alphabet agencies up is Fast and Furious, Gun Runner.
Please. There could be video of Holder and Obama talking about shipping guns around and saying "We need to kill more Americans! Did the arms shipments go to our controlled drug cartels?" and then proceed to eat babies and NOTHING would happen. Nothing will happen, worst case for them Holder resigns and I highly doubt that.
The Ussa has been gun runner to the world for at least 50 years.
Of course when we run guns to those we wish to prop up that is ok.
To hoot and hollah! over a couple of punks shooting each other over some bad coke while hundreds of thousands are slaughtered every year with our guns that were ran is another example of the blind allegience to the MSM party line b.s.
Sick. The sick is so deep most can't escape it anymore.
Nasty gun runners , nasty nasty nasty.
Shut ya mouth biotch.
The point is, you stupid dope, the government blamed the Second Amendment and American gun shops for selling guns to the Mexican drug cartels and causing violence south of the border. 0bongo and Shrillery went in front of the media and told us that the Second Amendment was causing mayhem and violence in Mexico. The reality was the government was the one arming the drug gangs. Now the ATF is cracking down on gun shops selling to law abiding American citizens. Their excuse is that the gun shops were selling to the Mexican drug cartels. They were ordered to do so by the DOJ, FBI, DEA, and ATF.
Making Fast and Furious O's Iran-Contra (tons of sturm und drang, but at the end only relatively little mice got trapped, iirc).
But with apologies to all for borrowing from various statist propaganda practitioners, if something like the truth is repeated often enough, like the SWIFT boat beat on Mr. Heinz, I mean Kerry, it might break through to sway an audience prepared by unemployment and things not being better than (or even near the same as) they were four years before. Still, kind of reminds me of the movie Mash, when Radar explains the General's angry fist shaking at the Colonel, that the General's ringers have recognized the colonel's. Expect plenty of sordid detail to be rumored as the campaigns heat up.
Let me pretend to be surprised. 10 bucks says they are destroying evidence.
Too funny!
Even funnier, they said it with a straight face. Because, as we all know, direct gov funding is just not the same thing as defaulting on a gov loan (there's different words involved).
As opposed to manufacturers being funded by domestic governments...if it didn't piss me off so much I would laugh
It had $1 billion in private money - so although it might be the biggest single lender, there's plenty of other large contributors in there. Richard Branson for one, not sure how much he's lost.
2011 response: "We cannot comment on an ongoing investigation."
2012 response: "The investigations found no appearance of impropriety by administration officials past or present."
2012 response: "The investigations found no appearance of impropriety by present administration officials but do not rule out involvement by the prior administration."
The Fed raided Corporate Headquarters in order to "obtain and destroy" any evidence of malfeasance or possible stink-a-link that could be pinned on their fearless leader Barry Hussein Soetoro otherwise known as "Obummer" to the American middle class.
There...fixed
And to create a false storyline to distract attention from what's already out there.
Turn up the noise, and drown out the signal.
Is the FBI allowed to destroy evidence too?
when necessary create or destroy as needed
Only domestic evidence. Not foreign. There's rules.
Now for the chinese companies involved in climate gate. The cia will have to destroy their evidence.
The SEC destroyed tens of thousand of files to protect their Wall St buddies and nary a peep from the lamestream media whores. I'm sure some people will be promoted
Republicans CRITICIZED the $535 million loan? Well its all their fault the company failed then! Just like when they 'criticize' his stupid plan tonite theyll just be called short sighted racists or whatever.
If only Republicans could just BELIEVE in Keynesian pink unicorns, then it would all work!
Inconvenient truth, SDO. The Republi-rats DO believe in Keynes. If not in word, then in deed. And some of them, also in word (see Nixon, Richard).
Will this investigation go the same way as the black panthers at the voter polling station did?
If this is a Holder stick save, then why do it on the day Obama begs Congress for more stimulus?
I think this is more of a coordinated attack from somewhere else. Especially given that the raid happened at virtually the same time the WH/Solyndra visit records were released.
I would love to witness one of these raids in action. I wish someone could video tape it. It sure would beat the hell out of any reality show on TV these days.
“Mr. Kaiser there are some men here to see you. I told them they don’t have an appointment, but, they insist it doesn’t matter. They don’t seem to be interested in buying solar panels either. I don’t think they don’t even like the sun, because, they’re all wearing dark glasses.”
You want to see what a government raid looks like? Look up raw milk or Gibson guitars.
Reporter: Your majesty Barama, after Solyndra's 20+ WH visits, do you think it's fair to pick and choose who gets the ObamaBucks?
Ruler Barama: I didn't know Solyndra got any money, in fact I've never heard of them. So you're a racist, don't ask me that again.
Kaiser Sose involved? Now it makes sense.
Correct, just round up the usual suspects, aka - Tea Partiers.
Something tells me that the word Solyndra will see precisely zero mentions on the front page of the New York Times tomorrow.
Can't wait for the next stimulus (lol) O'bummer will give to his buddies. First word that came in to my mind when I heard abt this was rape.
Remember money printing in any form right now is about as popular with the public as a turd in the prom punch bowl....its a black eye on the banksters, the FED, and the white house.
90% of people polled say 'stimulus and quantitative easing' means bailouts for the rich, and theyre right.
1 year till election, and everyone assumes more vast money printing which is wildly unpopular will now ramp UP? Yea I dont think so.
My ass is still sore from the last time they 'stimulated' the economy. I didn't even get a reach-around...the IRS reached behind me and stole my f'in wallet...
Now that all this news is all out in the open, I guess there is nothing left to do but to eat my lunch
Obama's WaterGate?
SolandraGate?
'Fast and Furious, Gun Runner' is where the real skeletons in the closet are.
Obama's Wastegate
"the fed will consider additional stimulus at its september meeting"
And will not deliver more wildly unpopular stimulus.
BK is a sharp dude..old school who knows his stuff. Way to go Mr Krasting.
This raid could have nothing to do with President Money Bags. They violated California WARN Law by not notifying people they were shutting down 60 days in advance. The employees are now suing. Which they have every right. They will win. Still they won't be getting any money.
http://snarkolepsy.blogspot.com/2011/08/that-bubble-just-popped.html
HA HA HA HA HA HA HA HAH AH AH AH HAHA
Thats the funniest thing Ive heard in weeks!!!!!!
I can almost hear Kaiser saying to Obama... "It's a win-win"
and it was....... til it wasn't.
i'm sure the explanation to the cap structure leap frog that Argonaut is doing will be explained away saying that PE and early investors in start-ups need to be incentivized and rewarded because they're an engine of growth or some such blah blah blah... no private debt fund in their right mind would subordinate to equity to earn some retardedly small yield.
Will the shut down contribute to the unemployment or underemployment number...always get those confused....
Snarc
Well the schredding machines are running hot now, no word yet by the MSM Fox has yet to mention anything . May take a day or so before the spin starts spewing lets hope that they find something that will harm the dear leaders chances and he is toast.
Careful what you wish for....
New York Times, January 11, 2012
President Joe Biden Gives Pardon to President Obama Who 'Regrets My Mistakes'
...Now, therefore, I, Joeseph Biden, President of the United States, pursuant to the pardon power conferred upon me by Article II, Section 2, of the Constitution, have granted and by these presents do grant a full, free, and absolute pardon unto Barack Obama for all offenses against the United States which he, Barack Obama, has committed or may have committed or taken part in during the period from...
Unlike Fast & Furious, Americans won't have a tough time getting their heads around Solyndra. Obama is a few degrees closer to this fiasco. Shhhheeeeeetttttt...maybe I'm being too optimistic.
http://www.youtube.com/watch?v=l1dnqKGuezo
This is the tip of the iceberg on qe and tarp related fraud? yes
As long as Eric Holder is AG...not a damn thing will happen.
Exactly Jumbotron. The fed "raided" so they can make sure there is no evidence that gets out linking back to the WH. You can be sure that just like all crimes committed by the kleptocracy against the USSA, nothing will happen....IT NEVER DOES AND NEVER WILL!J
Justice is a word that only applies to the "little people".
I don't think selective "justice" is any form of real justice. All in all, there is no real justice in america.
Moooocasey muhahahahahaaaaaa!
And that other turd , what did he cause to happen, hell last I saw even the corrupt scum he sucked off wouldn't hire him.
Gonzoales or whatever he was called.
BWHAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!!!!!!!!!!!!!!!
Holder while a worthless punk and commie is no more of a clown than those goofs.
The WHOLE THING IS RANCID FROM THE TOP DOWN.
the only way anything close to a just outcome could be arrived at is for the whole last 10 years worth of frauds and criminals to be tried in a court in Spain or Iraq.
The whole system is so corrupt here that nothing close to justice can be coaxed from it anymore.
Send them all to the Hague or somewhere and let them be tried there.
This blind ass justice system has shown it is not of any account.
BAD LINK ...to BK's original story in BK's follow-up last night and copied by Tyler above (Bruce has been the victim of some sort of bad link bug recently ;) )
Here is BK's original story
http://www.zerohedge.com/contributed/government-investment-disaster-works
All worth reading. Remember, long ago when the WSJ used to commit acts of investigative financial journalism like this?
< dupe print >
Probably covering up the fact that Holder was shipping solar panels to a Mexican drug cartel to help improve the efficiency of their operations.
If their motto really meant anything (Fidelity, Bravery, Integrity) they'd be arresting O, Holder and half of the upper administration of teh ATF.
wishful thinking - why would they pursue this case
in the current context how could this be perceived as worthy of investigation
channeling unfathomably large sums of money to polical supporters and other cronys has become accepted practice
Obama has a bright future when he leaves office
we now live in the USSR
Not to wake-up the 'tinfoil hat' crowd, but has anyone considered that our illustrious AG (aka: Eric "Place" Holder) managed this raid to destroy evidence?
Just askin'...
After all, the FBI must insure there is no incriminating evidence left behind... What else does the FBI do besides coverup the crimes of the financial elite, other than perform sting operations on wannabe terrorists?
Deeper In Debt: RE will never ever recover:
WASHINGTON (AP) -- Americans borrowed more money in July than any other month in more than three years. But they cut back on using their credit cards.
http://finance.yahoo.com/news/Consumer-borrowing-up-for-apf-2170674573.h...
Take a deep breath, will ya ?? complete disconnect with an irrational trade policy...that would allow a "national policy" inncubator company to be destroyed by cheap sponsored forx goods....nobody can beat this country in innovaction/production given half a chance...the boys in Washington and New York are doin a pretty good job of runnin this into the ground..please stop and engage a counter-intuitive filter to all events public and political...things are progressing just fine..soon the fortune 500 will rule the known universe..
Gee, I'm a bit amazed you don't get it. Sigh.
The place was raided by "the feds" (who work-for and take orders-from Obama and his cretins) to make sure all evidence against Obama and his buddies ARE ELIMINATED, and false evidence pointing at others is planted.
Come on. How many times does this crap have to happen before you catch on?
The place has been shut down for 9 days. You don't think they wouldn't have already gone on a shredding binge? Paper trails are just figurative these days. News of these raids always get out before hand.
We live in an electronic age. Has Anonymous / #antisec / #lulzboat raids taught you nothing?
Electronic trails > paper trails.
100-1 that someone has a copy of their internal servers by now... and you really don't need to turn up in person to get that. Ye gods, primitives!