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Rat as big as an Elephant!

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The bus stops at the bus station and the train stops at the train station and the transfer payment and loan guarantees from the blunders stop at the DNC.

Solyndra is one of many scandals consuming this administration, it is possible that the Lightsquared issue with Gen. William Shelton will blow up even bigger; as for now, I can only deal with one scandal at a time. Solyndra solicited the Bush administration for a loan guarantee for a solar panel production facility in Freemont CA, which after a thorough oversight was turned down. The presented business plan was poor; it was well known that the Chicoms were in the business and that a company operating out of Freemont CA would be unable to compete. On the day of Obama’s inauguration the Solyndra matter was a dead deal.

On December the 18th 2009 Solyndra filed more papers with the Department of Energy dated September 11, 2009 for a second loan guarantee loan of $ 469 million and seven months after their Obama approved loan for $ 535 million. This took place just two weeks after they broke ground on the new plant on September 4, 2009 and before one single thing had been manufactured in the plant.

Then on November 3, 2010 Solyndra laid off 40 workers in their only operating plant and made 150 part timers redundant, placed others on part time labor to avoid paying CA and Federal taxes and comply with EPA and other regulations.

Let’s not forget that all this is taking place in the congressional district of Forney (Pete) Stark (D, CA) good friend of Nancy Peloci (D, CA) Pete was last week awarded the GLOBE award by the Bay Area Gay and Lesbian Community. Pete has already taken lead on September 8th 2011 in the lay-offs of 1,100 workers at Solyndra by demanding that all workers get a 60-day severance bonus.

Seems that private investment in Solyndra was about $75 million with another $150 million from other sources. This indicates that Solyndra was granted by Mr. Chu of the Energy Department a loan of $335 million based on a private sector capitalization of $125 millions. When I was in business we tried to obtain a small business loan for $150,000. With a capitalization of one million dollars and my personal guarantee and were turned down. The Bush people were right, I would not loan anyone an amount exceeding 50% of their net worth.

This is where it gets interesting. George Kaiser is a DNC bundler who owned 35.7% of Solyndra. He seems to have bundled a large amount of donations for the Obama people, the amount has not yet been released but is assumed to exceed $ 100,000. It just so happens that good old Geroge is also part of the first $ 75 million invested in Solyndra and managed to convince the Department of Energy to re-negotiate the loan guarantee giving the original investors precedence over the government provided loans. So, the taxpayers are screwed by Obozo again!

The bus stops at the bus station and the train stops at the train station and the transfer payment and loan guarantees from the blunders stop at the DNC.

Solyndra is one of many scandals consuming this administration, it is possible that the Lightsquared issue with Gen. William Shelton will blow up even bigger; as for now, I can only deal with one scandal at a time. Solyndra solicited the Bush administration for a loan guarantee for a solar panel production facility in Freemont CA, which after a thorough oversight was turned down. The presented business plan was poor; it was well known that the Chicoms were in the business and that a company operating out of Freemont CA would be unable to compete. On the day of Obama’s inauguration the Solyndra matter was a dead deal.

On December the 18th 2009 Solyndra filed more papers with the Department of Energy dated September 11, 2009 for a second loan guarantee loan of $ 469 million and seven months after their Obama approved loan for $ 535 million. This took place just two weeks after they broke ground on the new plant on September 4, 2009 and before one single thing had been manufactured in the plant.

Then on November 3, 2010 Solyndra laid off 40 workers in their only operating plant and made 150 part timers redundant, placed others on part time labor to avoid paying CA and Federal taxes and comply with EPA and other regulations.

Let’s not forget that all this is taking place in the congressional district of Forney (Pete) Stark (D, CA) good friend of Nancy Peloci (D, CA) Pete was last week awarded the GLOBE award by the Bay Area Gay and Lesbian Community. Pete has already taken lead on September 8th 2011 in the lay-offs of 1,100 workers at Solyndra by demanding that all workers get a 60-day severance bonus.

Seems that private investment in Solyndra was about $75 million with another $150 million from other sources. This indicates that Solyndra was granted by Mr. Chu of the Energy Department a loan of $335 million based on a private sector capitalization of $125 millions. When I was in business we tried to obtain a small business loan for $150,000. With a capitalization of one million dollars and my personal guarantee and were turned down. The Bush people were right, I would not loan anyone an amount exceeding 50% of their net worth.

This is where it gets interesting. George Kaiser is a DNC bundler who owned 35.7% of Solyndra. He seems to have bundled a large amount of donations for the Obama people, the amount has not yet been released but is assumed to exceed $ 100,000. It just so happens that good old Geroge is also part of the first $ 75 million invested in Solyndra and managed to convince the Department of Energy to re-negotiate the loan guarantee giving the original investors precedence over the government provided loans. So, the taxpayers are screwed by Obozo again!

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