Investigators Probe White House Role in Massive Energy Loan

[Republicans in Congress] expressed concern that so much federal money was headed to a company whose key investor was George Kaiser, an Oklahoma billionaire who raised more than $50,000 for Obama’s 2008 presidential campaign.

President Barack Obama during a tour of the Solyndra solar panel company May 26, 2010 in Fremont, California. (Paul Chinn/Pool via Getty Images) Click to enlarge

 

Matthew Mosk and Ronnie Greene
ABC News and iWATCH News
9/2/2011

House investigators said they have uncovered evidence that White House officials became personally involved in an Energy Department review of a hot-button $535 million loan guarantee to the now-failed California solar company Solyndra.

The allegation surfaced in a letter House Energy Committee Chairman Fred Upton (R-Mich.) sent to the White House Thursday night, saying he planned to accelerate efforts to understand an investment deal that may have left taxpayers out half a billion dollars.

“We have learned from our investigation that White House officials monitored Solyndra’s application and communicated with [Department of Energy] and Office of Management and Budget officials during the course of their review,” the letter says.

Thursday’s letter, which calls on the White House to turn over correspondence between administration officials, Solyndra and its investors, presents the most pointed suggestion that the White House had direct involvement in the financing.

“How did this company, without maybe the best economic plan, all of a sudden get to the head of the line?” Upton told ABC News in an interview this week. “We want to know who made this decision … and we’re not going to stop until we get those answers.”…

READ: Solyndra Collapse a ‘Waste’ of Half a Billion By Obama, GOP Critics Say

READ at CPI: White House Had Role in Federal Benefit for Failed Solar Company, House Investigators Say

The complete article, with videos, is at ABC News.

H/T Legal Insurrection where Professor Jacobson compares Solyndra to the Teapot Dome Scandal of the 1920s.

Update: Obama Bundler George Kaiser Made Multiple Visits to White House in Months Prior to $535 Million Loan Guarantee to Solyndra

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