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The Solyndra Scandal... Is It Even Worse Than We Are Being Told?

The stink from the $535 million dollar Solyndra scandal appears to be wafting from California, across the country to the White House. Things we have learned, just this week, about this massive, taxpayer-funded green energy jobs scam:

The White House seems to have ignored warnings about Solyndra's viability...

Congress is asking questions...

The FBI has raided Solyndra's offices...

And today we discovered that Solyndra, on the heels of a $535 million dollar taxpayer loan, also applied to the Department of Energy for an additional loan of $469 million. The Daily Caller reports that Solyndra asked for the second loan on September 11, 2009 - just seven months after they received the approval for the first loan of more than half a billion dollars.

The second loan request was not a state secret, it was printed in Solyndra's SEC filings:

“On September 11, 2009, we applied for a second loan guarantee from the DOE, in the amount of approximately $469 million, to partially fund Phase II.”

The story also mentions that the DOE has not yet answered the questions about the second loan, so there is a distinct possibility that additional taxpayer monies were poured into a business that was not on solid ground as it broke ground on a now-empty plant. Perhaps the DEO turned down the second loan request. If so, it would not be surprising to hear someone in the White House take credit for SAVING taxpayers $469 million dollars.

To date, the President has not said a word about the controversial loan to a company he supported and visited in May of 2010.

President Obama's weekly radio address delivered this morning did not mention Solyndra and all of the jobs and money lost by this failed stimulus project, but he did find time to push to have Congress "Pass This Bill"

Were you paying close attention? President Obama said, "This jobs bill. . . " five different times, followed by one of the sales points he's been repeating all across the country as he campaigns for immediate passage of his "American Jobs Act." But there was not a word about the obviously failure of his first Stimulus plan, a massive $787 billion dollar program filled with bad deals like Solyndra.

HT / Daily Caller

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