...It takes more than a bad bet to make a scandal — but Solyndra has connections all the way to Obama himself. When Solyndra initially applied for taxpayer subsidies, auditors at the Department of Energy questioned Solyndra's stability. So why did the Obama administration fast-track Solyndra's application? One reason might be that one of the chief investors in Solyndra is George Kaiser — who also was one of Obama's campaign bundlers in 2008, raising more than $50,000. Solyndra executives made more than 20 visits to the White House between March 2009 and April 2011. Was it a coincidence that Solyndra ended up with an interest rate from the feds at one-fourth the going rate for green-jobs projects?
The curious collapse of Solyndra also turned up a strange arrangement for repayment to creditors. Despite having put up $535 million in taxpayer loan guarantees, the Obama administration didn't insist on putting taxpayers in the most senior position for creditors if Solyndra failed. Instead, as ABC reports, Kaiser gets repaid first on a $75 million investment before taxpayers see a dime.
If that sounds fishy to you, you're not alone. Last week, in response to an investigation by the DOE's Inspector General, the FBI raided Solyndra, seizing its business records. Federal agents also raided the homes of Solyndra executives, seizing computers and more records. Congress, which had already opened an investigation into Solyndra's loans, will undoubtedly press for access to this material for its own probe...