Did The Administration Break The The Law On Solyndra? Watch The Latest Hearing To Find Out

Tyler Durden's picture

Just starting on C-SPAN 2 is a new hearing on Obama's Solargate, Solyndra, which today will focus on the question of whether the Solyndra loan restructuring broke the law. From CSM: "Newly released emails show that the Treasury Department was concerned that the loan restructuring, approved earlier this year, could violate federal law. The deal was structured so that private investors moved ahead of taxpayers for repayment on part of the loan in case of a default by Solyndra. Administration officials have defended the loan restructuring, saying that without an infusion of cash earlier this year, Solyndra would likely have faced immediate bankruptcy, putting more than 1,000 people out of work. Leaders of the House Energy and Commerce Committee say the hearing Friday will focus on whether the Energy Department broke the law when it agreed to restructure Solyndra' s debt in February. The lawmakers cite emails showing that Mary Miller, an assistant treasury secretary, said the deal could violate the law because it put investors' interests ahead of taxpayers. Miller told a top White House budget official that she had advised that any proposed restructuring be reviewed by the Justice Department before it was approved. "To our knowledge that has never happened," Miller wrote in an Aug. 17 memo to the White House Office of Management and Budget. Rep. Cliff Stearns, R-Fla., called Miller's memo "startling" and said it appears that DOE violated "the plain letter of the law" in approving the restructuring. "We need insight into Treasury's role in reviewing this loan guarantee," said Stearns, chairman of the energy panel's subcommittee on oversight and investigations." Learn more in today's hearing.

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metastar's picture

Investor's interests always trumps taxpayer's interest. It is the way of the criminal, corrupt, and illegitimate.

doomz78's picture

If they are proven guilty of fraud and corruption...  Bullish for the markets!!!

Rahm's picture

Does a bear shit in the woods?

dlmaniac's picture

Looks like they've not beaten the Iran war drum hard enough as the attention on Obama's corruption is not going away. Tell Pentagon to bomb Iran immediately to move Public's focus off White House.

GeezerGeek's picture

Can we get a Constitutional amendment mandating the separation if investors' and taxpayers' interests?

depression's picture

The ends justify the means.

Problem Is's picture

That's how you got into the TurboTax quagmire, Timmah...

jaffa's picture

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jaffa's picture

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porrannor's picture

LAWWWWW...? WHAT LAWWW...? Are you kidding me? this and previouse administrations broke so many of them that one doesn't know where to begin. Who cares. We are like rats in a cage...

Oh regional Indian's picture

Actually Metastar, it is merely the way of the CORPORATION.



Grinder74's picture

And why is the SEC not jumping out of the gate to file fraud charges?  Too busy bending the midget over?

Seasmoke's picture

this is a perfect example of what kicking the can down the road and throwing good money after bad does....instead of going bankrupt at the time they should have........they threw more money away , put the taxpayers behind and still went bankrupt and lost the 1000 jobs.......all the while hoping the miracle would come and save them

Mike2756's picture

I have no knowledge of that, congressman.

Mercury's picture

Thank You Bruce Krasting.

If anyone else was on this particular and most damning Solyndra issue first I missed it.

Mercury's picture

Yeah, I saw that... a taxpayer boondoggle to stimulate Mexico.

Think this whole green jobs initiative thing could use a little sunshine or what?

nmewn's picture

A glaring spotlight...with no Miranda Rights being read.

Jena's picture

There are solar projects all over California, some up and running and others still in the planning stages.  I wonder how many of them got stimulus money and how well it was used (or misused).

nmewn's picture

If any got taxpayer money it was mis-used...IMO.

It is not the governments business to be elevating any corporation over another, picking winners and losers. A level playing field is all they should be there for.

karzai_luver's picture

There are projects up and running (for more tax breaks bailouts) all over Kentucky.


I wonder why those are not being investigated , but instead more Fed money is being directed to false green energy boondoggles.



Check with Mitch boy , he has all the details and the legislation to support the freeloaders.


jaffa's picture

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jaffa's picture

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imapopulistnow's picture

All of them - one form or another.

Pitchman's picture

This is a proven plan, IMF style.  Everyone but the Fascist cronies, who made the bad investment, pays.  Socialism for the rich and capitalism for everyone else.

If your able to rig the outcome who cares about viability?

After all:  “Competition is a sin.” – John D. Rockefeller

See the ZH piece and more: Hi, It's Tim, I'm Stuck In Paris, And Need You To Send $500

There are two types of people.  Those who want to be free and left alone and those who want to control you.  Nothing has more weight and who would you choose?





Mr Lennon Hendrix's picture

Obama is a constitutional lawyer, he could never break the law!



Bring the Gold's picture

LOL, just like W was too STUPID to do any of the high crimes out of that Admin. I love the cover stories they put up for these guys. "But Obama is black and a Constitutional lawyer he could NEVER do illegal stuff." "Are you suggesting Bush was some kind of criminal mastermind he was a moron so all the corruption stuff couldn't be true he was too dumb." 

I love how people actually fall for that shit as if the POTUS is deciding which leg of underwear to put on first let alone policy.

MFL8240's picture

Hahahahahahahahahahahaha!!!!!!!!!!!  Where is his law degree and what proof do you have he ever had a Law degree?  Answer: NONE TO BE FOUND!

Grinder74's picture

Barack Hussein Obama was admitted to the Illinois bar on December 17, 1991.  He is currently not authorized to practice law.

Mr Lennon Hendrix's picture

He edited the Harvard Law Review.  At least he was editor; we can't be too sure how much editing he actually did.

Joeman34's picture

If you have to /sarc/ after your comment, you're no good at /sarc/...  /sarc/

dr.charlemagne's picture

the constitution is a living document

obama is living

therefore, the constitution is what obama says


basic democrat logic

A Nanny Moose's picture

Not just a Constitutional Lawyer....but a Scholar.

Iriestx's picture

"Going forward, anytime the American people want to know something that I or a former president wants to withhold, we will have to consult with the Attorney General and the white house counsel, whose business it is to ensure compliance with the rule of law. Information will not be withheld just because I say so; it will be withheld because a separate authority believes my request is well-grounded in the Constitution. Let me say it as simply as I can: transparency and the rule of law will be the touchstones of this presidency"


--Barack Obama 1/21/2009

Mike2756's picture

I'm wondering about this Iran "plot", seems too convenient.

Iriestx's picture

False flag attacks are the cornerstone of the American government.  Gotta frighten and distract the sheep somehow.

I did it by Occident's picture

Remember the MAINE!

oh, wait, I'm over a century off.  Carry on...

weinerdog43's picture

Remember the Lousitania!  Almost a century....

Grinder74's picture

Sounds suspiciously like a Vince Flynn plot, where a MUSLIM terrorist hires hispanic gangsters to take out a hit on the main character.

Mercury's picture

What about "make no mistake..." and "let me be perfectly clear..." pronouncements ?? 

Are those still worth the teleprompter they're printed on?

depression's picture

Maybe the Occupy Party can organize a sit-in on the proceedings.

Deadpool's picture

who you going to believe; me or your ears?

Joeman34's picture

"No new taxes,"  "I did not inhale," "I did not have sexual relations with that woman."

I think lying is part of the job description...

maddogs's picture

Deceit is the purpose of Government

--maddogs 10/14/2011

SemperFord's picture

TPTB can do what they want until violence pushes these parasites out.

dracos_ghost's picture

Surprise, surprise. The WH is corrupt. These guys don't get to that level of sociopathic narcissism without having contempt for everyone and everything except their own interests.

The White House -- serving your corruption needs since 1776.


OT, So when is the super committee coming out of hibernation. Congress can schedule this non-event (by non-event I mean by virtue that absolutely nothing will come out of it) but can't resolve the debt ceiling issues or even try to meet their responsibilities.

Let's take bets on who is going to be thrown under the bus for this one to make it go away.

maddogs's picture

IF, nothing is accomplished by the committee(super), tax breaks expire, some social beni's expire, problem solved. The new "method". No one takes blame, it's the other guys fault.