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The White House’s $535 Million Photo Op

As the Solyndra scandal continues to unfold, Americans are clamoring for the President to take responsibility.  With more suspicious details coming to light, multiple entities have launched investigations—the FBI, the Inspector General of the Energy Department, the Inspector General of the Treasury Department, and the House Energy and Commerce oversight subcommittee.  From what we’ve seen so far, the verdict seems pretty clear: the White House recklessly propped up Solyndra to please campaign backers and stage a political photo op.

Now that the White House has finally released some 900 pages of emails, it’s obvious the White House was playing favorites.  As the New York Times reported, one White House official emailed Solyndra to say “we’re cheering for you.”  Other emails include messages from Solyndra officials that misrepresented the state of the company’s affairs, saying things like “things are going well” and touting themselves as “a true success story.”

Meanwhile, outside groups were sounding the alarm.  PricewaterhouseCoopers stated back in 2010 that there was “substantial doubt” about the company’s viability.  Groups such as the credit-rating agency Fitch gave Solyndra non-investment grade ratings in 2008.  The White House turned a blind eye, and chose to believe what they wanted.  Instead of being cautious investors, they became the company’s top-cheerleaders, as I mentioned in my POLITICO op-ed Wednesday.

Yet even in the face of this evidence, they absolutely refuse to take responsibility.  They’ve tried desperately to shift the blame.  First, they said they rushed the loan because of scheduling difficulties.  Then, they claimed the loan was “high risk, high reward” prospect in the first place.  They tried to blame the Bush administration.  When that didn’t work, they took aim at their own Energy Department.   Now, they’re simply trying to say “no one” is to blame.

This is all too typical for this President and his White House.  When they make mistakes, they search for scapegoats.  For a White House that prided itself on being the most transparent in history, there is a shocking lack of accountability.
Americans deserve answers.  The President should be direct with the country about what went wrong.  After all, how can we trust him with a new $447 billion stimulus when there’s proof that the first one was so badly mishandled?  This is but one example of corruption; how many more are out there?

With those questions in mind, the RNC launched a petition for voters to tell the President to come clean.   If you want answers, if you want this White House to be held accountable, I encourage you to sign it.  We have to put an end to this type of self-dealing pay-for-play politics.  It does nothing to help the economy or create jobs; it’s just another way the President is desperately trying to keep his.

COMMENTS

  • snowshooze

    nt

  • Spartan4Life

    Now whether it should be or not is a different question. Pissing away $530M taxpayer dollars for political reasons ought to be illegal. Ubfortunately, it probably isn’t. Any surprise that we are $15T in debt?

    That is what is wrong with government today and both parties are guilty. We have institutionalized corruption at every level.

    As for Obama, he has a long history of wasting money for no results going back to the 90′s when he was pissing away the Annenberg Foundation money and getting no results. Anybody who thought he was going to be good fiscal steward is/was a fool.

    • radicalrighty

      .

  • http://undo4me.com WmCraig

    I haven’t seen the likes of this since Tricky Dick posed with his dogs suspended by their ears.

    • http://www.anauthorworld.com kallie

      it was LBJ (D-Texas) who picked up one of his beagles by the ears. Caused a lot of fuss at the time.

  • ashland_avenue

    Please make sure that someone representing the taxpayers goes over each and every purchase order. Were the purchases of raw materials, of services, etc, done at market prices?

    It should be possible also to subpoena the travel and entertainment expenses of folks who were selling goods and services to what was in truth a government owned business.

    It should also be possible to get dozens of business school accounting students to volunteer for extra credit in their auditing programs.

  • http://www.va5thdistrict.blogspot.com va5thdistrict

    is their inability to take responsibility for anything. When Obama loses the election next year it will be someone else’ s fault and not because he was one of the most inept Presidents in our nations history.

    http://www.vadistrict5.com/2011/09/time-to-pull-rope-dope-on-obama.html

    • travis690

      In the world of venture capital, not every idea is marketable. The solar energy “industry” is just such an example.

      We had a government agency “investing” in a business that could not put together a viable business plan. And this was demonstrated by the Bush administration NOT APPROVING their loan guarantee. Yet the Obama administration approves it because they don’t have anyone in their administration that can read a business plan. And if they were able to read it, they wouldn’t be able to execute it. This is why everything this administration touches results in failure.

      This goes to all Keynesians: They believe that if you have political demand for a project, it will work. Instead, they forget the one thing Reagan demonstrated for them: There is a supply side to the equation. With demand based upon government suggestion, it would have resulted in product being supplied at an uneconomical price, thus resulting in financial loss either way.

      And then we have the issue of privatizing the profits while we socialize the losses. We see that there was a (non-legal) agreement that allowed the largest investor in the company the right to get paid before the loan was paid back if the company failed.

      Mr. Obama: Now is the chance you wanted. You can now go after the billionaire while doing something to benefit the nation as a whole. Will you make that choice?

  • eddie74

    The Pres Obama gets to appoint the Director of the FBI – so what is He to do when His Boss commits a $535 Million Dollar embezzelment..?? Commit a well constructed “Cover-up”?? – but first Rade Solyndra to capture all possible incriminating evidence so as to “white-wash” the dirt from the record.. Let’s hope the FBI will honestly search for High-Level criminality, and not become part of a “Cover-up” for the protection of crooked Washington politicians..
    BTW – The $535 Million must have bought something that can be seized, so FBI – Go Get’em..!!

  • ihateliberals

    firm there are plenty of successful ones around including one just up the road from the White House in Frederick MD, Oh yeah, My mistake they are sucessful and didn’t need the Stimulus money.

  • banzaibob

    Compared to the whole stimulus bill. Money spent to create jobs only to be used to shore up local and state governments. Money thet was put into pension funds instead of building roads and bridges. Jobs that were not “shovel ready”.

    And now they anonther 447 billion, hell no.