Second Obama fundraiser linked to federal loan for failed solar company

Matea Gold and Stuart Pfeifer
Boston Herald
9/17/2011

The White House faced mounting political complications as a second top fundraiser for President Barack Obama was linked to a federal loan guarantee program that backed a now-bankrupt Silicon Valley solar energy company, and as two California lawmakers called for investigations of a state tax break granted to the firm.

Steve Spinner, who helped monitor the Energy Department’s issuance of $25 billion in government-backed loans to renewable energy projects, was one of Obama’s top fundraisers in 2008 and is raising money for the president’s 2012 re-election campaign.

Spinner did not have any role in the selection of applicants for the loan program and, in fact, was recused from the decision to grant a $535 million loan guarantee to Solyndra Inc. because his wife’s law firm represented the company, administration officials said Friday.

But Spinner’s role as a top official in the Energy Department program, which had not been previously revealed, is likely to spur new inquiries into whether political influence played a role in the handling of the “green” energy fund. Solyndra faces a congressional probe, a criminal investigation and separate internal inquiries at the Energy and Treasury departments.

“This will fuel more questions, and now you’ve got real people involved at the inspector-general level who will be turning over chairs and cabinets, asking questions,” said Stanley Brand, a criminal defense and ethics lawyer in Washington who has served as general counsel to the U.S. House of Representatives…

…Spinner, who raised at least $500,000 for Obama in 2008, is leading efforts to raise money from the technology industry for the president’s re-election campaign. He did not respond to requests for comment Friday…

The complete article is at The Boston Herald.

H/T Weasel Zippers

Related: Carney plays dumb on Solyndra, says Obama hasn’t been briefed

Comments are closed.

Categories