White House wary of Solyndra re-election effects - MSM holding back the story??

[SugarShack]

White House wary of Solyndra re-election effects

AP - 11 hours ago
WASHINGTON — The Obama administration was worried about the financial health of a troubled solar energy company — and the political fallout it could bring — even as officials publicly declared the company in good shape, newly released e-mails show. An e-mail from a White House budget official to a co-worker discussed the likely effect of a default by Solyndra Inc. on President Barack Obama's re-election campaign.

"The optics of a Solyndra default will be bad," an official from the Office of Management and Budget wrote in a Jan. 31 e-mail to a senior OMB official. "The timing will likely coincide with the 2012 campaign season heating up."

The e-mail was released by the House Energy and Commerce Committee as part of its investigation into a half-billion dollar federal loan to the company. The e-mail says the budget official wanted White House budget director Jacob Lew to warn Energy Secretary Steven Chu about the risk posed by Solyndra, which was once the poster child for the Obama administration's clean energy program. It has since laid off 1,100 people and filed for bankruptcy. At the time of the e-mail, the Energy Department was pushing to release an additional $67 million to Fremont, Calif.-based Solyndra to help the company through a cash-flow crisis. "Questions will be asked as to why the administration made a bad investment, not just once (which could hopefully be explained as part of the challenge of supporting innovative technologies), but twice (which could easily be portrayed as bad judgment, or worse)," the e-mail says.

The FBI raided Solyndra's headquarters last week and interviewed company executives at their homes. The company received $528 million in federal loans and was the first renewable-energy company to receive a loan guarantee under the stimulus law. The Obama administration frequently touted Solyndra as a model for its clean energy program.

http://www.tampabay.com/incoming/white-house-wary-of-solyndra-re-election-effects/1192062

:nuke:

[SugarShack]

1. This was in the same local paper a day or two ago, they said this will can it for Obama!

[tritsofme]

2. You just posted an article from the AP on the subject.

How could the story be held back?

[SugarShack]

3. How the hell will they spin this?

[otohara]

4. The Horror, Hank Paulson Handed Billions w/ NO Strings

throwing money away in Iraq, Afghanistan is no biggie to fookers on the right.

[FarLeftFist]

5. I heard double that went missing in Iraq. Suddenly the GOP found fiscal religion?! Riiiiiight.

[Life Long Dem]

6. Bush Administration Advanced Solyndra Loan Guarantee for Two Years, Media Blow the Story

Exclusive Timeline: Bush Administration Advanced Solyndra Loan Guarantee for Two Years, Media Blow the Story

By Stephen Lacey and Climate Guest Blogger on Sep 13, 2011 at 11:10 am

by Stephen Lacey and Richard Caperton

It’s often claimed that the Solyndra loan guarantee was “rushed through” by the Obama Administration for political reasons. In fact, the Solyndra loan guarantee was a multi-year process that the Bush Administration launched in 2007.

You’d never know from the media coverage that:

1. The Bush team tried to conditionally approve the Solyndra loan just before President Obama took office.
2. The company’s backers included private investors who had diverse political interests.
3. The loan comprises just 1.3% of DOE’s overall loan portfolio. To date, Solyndra is the only loan that’s known to be troubled.



http://thinkprogress.org/romm/2011/09/13/317594/timeline-bush-administration-solyndra-loan-guarantee/

Spin what?

[Denzil_DC]

7. K&R for this little-reported detail. n/t

[Zax2me]

9. But, the detail is, bush didn't fund. He held up. Obama didn't.

Obama admin approved.

I don't see the positive in that.

[Zax2me]

8. Little bush admin held up all funding. Obama admin approved.

Obama admin put it on fast track approval as soon as they took office.

The media didn't blow anything.

It WAS rushed through.

You try to spin this one, you'll end up looking like 'proof Weiner account was hacked' posters that had to listen to Weiner admit he did it a week later.

On the other hand, I personally don't believe Obama knew the dirty details of ANY of this. His fucked up advisers did.

[Life Long Dem]

10. The Solyndra loan guarantee was a multi-year process that the Bush Administration launched in 2007.

The Bush Administration tried to approve the loan right before Obama took office.

[SugarShack]

11. If this was Bush's responsibility, why are Obama staffers worried? It WAS his decision.

[SugarShack]

12. Did Bush set Obama up? Who's got the money? Both? That's where you look...

[farmbo]

13. Bush & Halliburton lost $11 billion in Iraq...Where is Darrell Issa on that?

This is a totally manufactured story...
http://digbysblog.blogspot.com/2011/09/bad-investments-by-david-atkins.html