Jonathan Alter says Obama is “honest”, scandal-less, and “puts a premium on personal integrity”. He insists Obama set a record in October for the most days without a scandal of any president since 1977! (another Democrat just by coincidence).
Although it’s possible that the Solyndra LLC story will become a classic feeding frenzy, don’t bet on it. Providing $535 million in loan guarantees to a solar-panel maker that goes bankrupt was dumb, but so far not criminal or even unethical on the part of the administration. These kinds of stories are unlikely to derail Obama in 2012.
Well, really? Even if, out of a crass political calculation, they pushed Solyndra to keep quiet about their lay-offs until after the election? Even if the Obama’s Energy Dept agreed to continue giving Solyndra installments of its federal loan despite the company’s failure to meet key terms of the loan? Even if, while knowing the company was in deep financial doodoo, it restructured its loan in February to give investors a chance to recover $75 million in new money they put into the company, essentially throwing taxpayers under the bus?
Yep, I love the sense of honesty and integrity this random act of journalism by The Washington Post gives me:
Solyndra, the now-shuttered California company, had been a poster child of President Obama’s initiative to invest in clean energies and received the administration’s first energy loan of $535 million. But a year ago, in October 2010, the solar panel manufacturer was quickly running out of money and had warned the Energy Department it would need emergency cash to avoid having to shut down.
The new e-mails about the layoff announcement were released Tuesday morning as part of a House Energy and Commerce committee memo, provided in advance of Energy Secretary Steven Chu’s scheduled testimony before the investigative committee Thursday.
Solyndra’s chief executive warned the Energy Department on Oct. 25, 2010, that he intended to announce worker layoffs Oct. 28. He said he was spurred by numerous calls from reporters and potential investors about rumors the firm was in financial trouble and was planning to lay off workers and close one of its two plants.
But in an Oct. 30, 2010, e-mail, advisers to Solyndra’s primary investor, Argonaut Equity, explain that the Energy Department had strongly urged the company to put off the layoff announcement until Nov. 3. The midterm elections were held Nov. 2, and led to Republicans taking control of the U.S. House of Representatives.
“DOE continues to be cooperative and have indicated that they will fund the November draw on our loan (app. $40 million) but have not committed to December yet,” a Solyndra investor adviser wrote Oct. 30. “They did push very hard for us to hold our announcement of the consolidation to employees and vendors to Nov. 3rd – oddly they didn’t give a reason for that date.”
Just a reminder of how the most “honest” and “scandal-free” administration since 1977, demonstrates its integrity:
Dealergate, DOJ Black Panther whitewash, the Obamafication of NEA art, the Sestak affair, the politically expedient IG Gerald Walpin firing, misspent Porkulous funds, the DOJ’s secret astroturf propaganda unit, the Shorebank scandal, oilgate, Blagojevich Rezko Obama corruption, Pigford, his unaccountable Communist czars, Fast and Furious, The Gibson Guitar Raid, and now Solyndra and LightSquared.
Ace: Rahm Emanuel: No, The Fact That You Now Have Emails Showing I Was Instrumental In Solyndra Does Not Jog My Memory Whatsoever About My Involvement In That
Hat tip: Ace of Spades HQ – who reminded me about Alter.