Report: Solyndra Too Green To Fail: Until O Bundler Gets Priority

Discussion in 'Politics' started by bitterlyclingin, Aug 2, 2012.

  1. bitterlyclingin

    bitterlyclingin Silver Member

    Aug 4, 2011
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    [Har! Har! Har! I fooled ya! I fooled ya! I fooled ya!
    That's probably what 'Bam and George K. were singing in harmony between beers or frolics when Solyndra went down the crapper. After all, at least some of that half billion or so dollars were bound to find their way into 'Bam's re election coffers and Heaven knows 'Bam needs that money more than the taxpayers.
    Twas a feat worthy of Harry Houdini. Now you see the money, now you don't]

    "The House energy committee is expected to release a report on Solyndra sometime this week, but parts of it have already gotten out. Last year, a White House budget analyst warned that temporarily saving Solyndra via a loan restructure could ultimately cost taxpayers more if the company later went under than if the government just cut its losses, allowed it to fail, and immediately liquidated the assets.

    The plan, filed Friday in U.S. Bankruptcy Court in Wilmington, Del., provides for holders of allowed administrative expenses and priority claims to be paid in full, and assets of Solyndra will be vested in the Solyndra Residual Trust. Holders of Solyndra’s general unsecured claims, valued at $50 million to $120 million, are expected to recover from 2.5 percent to 6 percent, according to a disclosure statement filed with the plan.

    The plan’s sponsors are identified as Argonaut Ventures I LLC and Madrone Partners LP. Argonaut Ventures is the investment arm of billionaire George Kaiser’s charitable organization.

    They didn’t mention that Kaiser is an Obama bundler and White House visitor."

    Michelle Malkin » Congressional report preview: Solyndra was too green to fail… at least until investors took priority over taxpayers for repayment
  2. Mr. H.

    Mr. H. Diamond Member

    Aug 19, 2009
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    A warm place with no memory.
    This administration is worse than pathetic.

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