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Solar Scandals Have Taxpayers Seeing Red

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Solar Scandals Have Taxpayers Seeing Red

Although the lame-stream media aren’t talking about it, failed solar companies like Solyndra and troubled businesses like SunPower Corp. received $4.75 billion in federal loan guarantees from the Obama administration …

The investments in these so-called “green” companies are victimizing already beleaguered American taxpayers – and there are virtually no answers to what may be just the tip of “green iceberg” unfolding scandal.

Right now two Republican lawmakers on two different House subcommittees are demanding answers and accountability into what many are calling “crony capitalism.”

According to news sources, The Energy Department (DOE) says on its website that the “$1.2 billion loan to help build the California Valley Solar Ranch … will help create 15 permanent jobs … the equivalent of $80 million in taxpayer money for each job.”

Reuters reports that “an Obama administration appointee at the U.S. Energy Department pressed White House analysts to sign off on the $535 million loan to Solyndra even though his wife worked for the failed solar panel maker’s law firm, according to internal emails made public on Friday. The revelation adds new drama to a political battle over the administration’s backing for Solyndra, which has filed for bankruptcy and has been raided by the FBI. The newly disclosed emails reveal ‘a disturbingly close relationship’ between the White House, campaign donors and wealthy investors relating to Solyndra, a senior congressional Republican said.”

Even worse, is the fact that the DOE gave “priority status to private investors regarding the first $75 million recovered in the event of Solyndra’s liquidation.”

In other words, the American taxpayer was cheated twice, while private firms with deep financial ties to Obama and the Democrat party recouped their investments!

As taxpayers who have just been bilked out of $4.5 billion, we deserve honesty, transparency and accountability. We cannot allow this assault on the American taxpayer by the President of the United States and the Department of Energy to simply go away!

Read more about your tax money being wasted.

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