Way back in 1973, Congress created another apparent political money-laundering, graft, and bribery payout-machine, (using our tax dollars) titled The Federal Financing Bank. (FFB) As always, when Congress creates a new way to try to steal more money from the working class taxpayers,( while trying to keep them from finding out about it ) they come up… Read More »
The President gave another campaign speech disguised as a “deficit reduction plan” Monday morning, this time in the White House Rose Garden. Perhaps he hoped the the backdrop of thriving foliage would add to the illusion that his “plan” would help the economy thrive and flourish. Here are some highlights from the campaign speech: Obama… Read More »
To date, public attention in the aftermath of the Solyndra, Inc. loan scandal has been focused on the relationship between the solar power company and the Obama administration. Behind the scenes, however, Goldman Sachs, the Wall Street investment bank that served as financial advisor to Solyndra, Inc. in its successful application for a $535 million… Read More »
The $535 (or $528) million Loan Obama administration officials defended a $528 million loan to Solyndra, but stated that federal investment in alternative energy must continue. [emphasis mine] The Obama administration stood by Solyndra, through auditors warned to not risk an initial public offering and a refinancing where taxpayers were behind new investors. A day before… Read More »
President Obama made a high-profile visit in May 2010 to Solyndra Inc., a solar-panel manufacturing plant in Fremont, Calif. The company received $535 million in loans from the Energy Department and was a centerpiece of the Obama administration’s economic stimulus effort. “Companies like Solyndra are leading the way toward a brighter and more prosperous future,” Mr. Obama chirped. On Wednesday, Solyndra closed its corporate headquarters, announced that it’s filing for bankruptcy and laying off 1,100 workers.