White House Emails Show Administration Pressure For Solar Company Loan Approval
September 15, 2011 by Special To Personal Liberty
The Solyndra debacle that has come to light in the past week in the wake of the solar company’s bankruptcy has seen the rise of new developments that may implicate the Administration of President Barack Obama for pushing the loan despite negative information about the business, Fox News reported.
A House Energy and Commerce subcommittee will probe the approval of the loan, which has come under scrutiny following the release of emails that detail a significant push from the White House for the allotment, despite receiving reports that the company was “not ready for primetime,” according to the news outlet.
“Many of us think he was trying to get the money out the door perhaps for political reasons, and in the end taxpayers lost over half a billion dollars,” Representative Cliff Stearns (R-Fla.), chairman of the House Energy and Commerce Subcommittee on Oversight and Investigations, told Fox News.
ABC News reported that the push from the Obama Administration may have continued, despite the negative news concerning the company, because of their initial backing of the project as an example of how green technology could push the country forward.