blastoff
Undocumented Reg. User
Why is the FBI, hands full with terrorists wanting to get at us all, being sidetracked as a common loanshark functioning agency is my quesiton.The firm was publicly touted by Barack Obama, who praised them for their "successes" with green issues. He did not at any time tell the public their $535 million taxpayer dollars being loaned from stimulus funds was being given to a company that had a history of financial problems.
He also sent in the FBI with warrants, which means that other creditors who loaned Solyndra money on the strength of a tout from the bully pulpit will likely not get their money back.
Do you think it's right for the federal government to be in the loanshark business using the FBI to collect?
It depends if Solyndra signed a contract with the government, that they must produce a certain ammount of solar panels. If they have no contract then the government is covering it's tracks
Oh, the $535 million (over half a billion) was given to this shaky outfit out of taxpayer money doled out by Obama as "stimulus."
It's a national scandal, far worse than Watergate. The question is, will the press notice?
The Wall Street Journal noticed and published an editorial about it today titled The Solyndra Scandal. In it they point out another interesting tidbit. The $535 million government loan was made in March 2009. In February of this year Solyndra's investors loaned the company $75 million but this deal included the caveat that they'd be "first in line on repayment in the event of bankruptcy, in front of taxpayers."
How's that for a sweet "last in, first out" deal? Investors in the company loan it $75 million nearly two years after the government gave them $535 million of our tax money, but they're first in line if the stuff hits the fan.
For those of us who pay taxes, it's time to bend over and assume the position.