Friday, November 04, 2011

The Solyndra problem is more and more "problematic" for Pres BO!

Pres BO will be getting a "subpoena" in the mail regarding the Solyndra matter.  The House voted to issue the subpoenas after another late document "dump"!

I don't know if the Obama White House will comply.  They will probably say that they've done 'enough" or cite "executive privilege".

Again, time will tell.

Beyond all of the political back and forth, the Obama White House faces some real world embarrassing political problems.

First, Ed Morrissey of Hot Air posted today that the Solyndra executives were not impacted by our current recession or the company's problems:

"Senior executives at Solyndra collected hefty bonuses — ranging from $37,000 to $60,000 apiece — as the Fremont company bled cash and careened toward bankruptcy this summer...."

Isn't that lovely?

Second, we learned today that there was talk of a "bailout".

Isn't that lovely too?

Third, who approved the restructuring of the loan that put the shareholders above the taxpayers?

I think that the restructuring is the real problem here. 

Who signed off on that idea?

In so many ways, Solyndra is the consequence of the famous stimulus, the $877 billion monster that no one read or debated.   Unfortunately, there are other companies in the same situation and more 'taxpayer" money will go down the drain!

Click here for our Thursday commentary on Solyndra:


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