In January 2011, White House officials supported the restructuring of Solyndra, the scandal-plagued solar company of the president’s clean energy initiative, despite warnings from multiple analysts in the White House’s Office of Management and Budget (OMB) that saving the company would be more costly than letting it die.
The Energy Department attempted to help an Obama money-man recoup his losses from the bankrupt, federally backed solar panel company Solyndra ahead of taxpayers.
After squabbling behind closed doors, House Republicans have united behind the No More Solyndras Act, a bill to finish the energy loan guarantee program.
President Obama attended a San Francisco fundraiser with at least two key figures of the Solyndra scandal.
Obama campaign spokeswoman Lis Smith attempted to push back against charges that President Obama has engaged in crony capitalism, the practice of rewarding prominent donors with taxpayer dollars.
President Obama’s record of rewarding political donors with taxpayer dollars and plum administration posts is facing a new round of scrutiny thanks to GOP challenger Mitt Romney’s effort to make it a central issue of the campaign.
The Senate Appropriations Committee has created a $20 million fund for Health and Human Services Secretary Kathleen Sebelius to invest in biotech startups, shifting money to a program that some say resembles the Department of Energy’s controversial loan guarantees.
Newly unearthed documents reveal that the failed solar firm Solyndra fired nearly 800 more employees than it previously reported when it filed for bankruptcy last summer.