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Barack Obama Solyndra Scandal: 10 Key Quotes From the Green Energy Company Controversy

By    |   Thursday, 29 Jan 2015 09:00 PM

The Solyndra controversy is just one of many scandals credited to President Barack Obama and his administration. The motives behind his administration's fast tracking of Solyndra's funding are suspect, especially as it appears a large donor to the Obama campaign benefited from the loan.

Solyndra, a solar panel manufacturing company, received a Department of Energy guaranteed loan of $535 million from green infrastructure funds in Obama's $787 billion stimulus bill. The company went bankrupt soon after, leaving taxpayers on the hook for the funds. After the Office of Management and Budget revealed they had been pressured to approve the loan, despite questions about of the green company's financial health, the controversy escalated to scandal status.

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Here are 10 key quotes about the Barack Obama Solyndra scandal:

1. "I'm really happy, along with the secretary, to announce today that we’ve closed a $535 million loan guarantee for Solyndra, more than a half billion dollars. ... And once your facility opens, there will be about 1,000 permanent new jobs here at Solyndra and in the surrounding business community, and hundreds more to install your growing output of solar panels throughout the country." – Vice President Joe Biden

2. "And we can see the positive impacts right here at Solyndra. Less than a year ago, we were standing on what was an empty lot. But through the Recovery Act, this company received a loan to expand its operations. This new factory is the result of those loans." – President Barack Obama

3. "[The] Treasury’s consultative role was not sufficiently defined, the consultation that did occur was rushed, and no documentation was retained as to how Treasury’s serious concerns with the loan were addressed." – Office of the Inspector General audit on the issue of whether the Treasury met the intent of law and regulation on the Solyndra loan

4. "The evidence demonstrates administration officials knew Solyndra was a bad bet from the beginning, but the White House was determined to make Solyndra a stimulus success story at any cost. Despite repeated warnings that Solyndra was doomed to fail, the Obama administration went ahead in backing the solar company, cutting corners in the process, and rushed the loan guarantee out the door." – House Energy and Commerce Committee

5. "Over the course of Solyndra's loan guarantee, I did not make any decision based on political considerations. My decision to guarantee a loan to Solyndra was based on the analysis of experienced professionals and on the strength of the information they had available to them at the time." – Energy Secretary Steven Chu

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6. "If White House officials handled taxpayer dollars irresponsibly for the sake of promoting Obama's signature piece of legislation at the time, it would constitute a potential ethical lapse that resonates with criticisms against the stimulus and ballooning deficits." – Chris Good, The Atlantic

7. "Solyndra will be remembered in the history books as a sad hallmark of a newly installed administration that felt it was above the rules, lusting for positive headlines rather than focused on delivering results." – Fred Upton, House Energy Committee Chairman

8. "Obama and Vice President Joe Biden got a nice photo op. They got to make speeches about being 'green.' But then Solyndra went bankrupt. Americans lost jobs. Taxpayers got stuck with the bill. And members of Congress are now in high dudgeon and making speeches." – John Kass, Chicago Tribune

9. "It turns out that the veteran Wall Street executive (Herbert Allison) handpicked by the administration to investigate its disastrous green energy loan losses contributed $52,000 to re-elect Obama in the months after he completed the in-depth probe." – Judicial Watch

10. "We smelled a rat from the onset." – Republican House Energy and Commerce Committee members Rep. Cliff Stearns and Rep. Fred Upton.

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The Solyndra controversy is just one of many scandals credited to President Barack Obama and his administration. The motives behind his administration's fast tracking of Solyndra's funding are suspect, especially as it appears a large donor to the Obama campaign benefited from the loan.
Barack Obama, Solyndra, Scandal, Green Energy
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2015-00-29
Thursday, 29 Jan 2015 09:00 PM
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