Solyndra Executives Postpone Testimony, As Emails Reveal Deeper Obama Administration Ties To Bad Loan

September 14, 2011 07:50

Internal emails obtained by The Washington Post show that White House officials tried to rush the review of the loan – BI

By Zeke Miller at Business Insider


One official from the Office of Management and Budget charged with providing final review of the loan wrote of “the time pressure we are under to sign-off on Solyndra.” A second raised a red flag, saying “There isn’t time to negotiate.”

“This deal is NOT ready for prime time,” one OMB staffer wrote in a March 10, 2009 email obtained by ABC News, nine days before the administration formally announced the loan.

Another official said “We have ended up with a situation of having to do rushed approvals on a couple of occasions (and we are worried about Solyndra at the end of the week).” Sent on August 31, 2009, the message sent to Biden’s domestic policy adviser Terrell P. McSweeny, closed with, “We would prefer to have sufficient time to do our due diligence reviews.”

Bloomberg reported last week that just two months before the loan was awarded, auditors raised found significant financial troubles — enough to “raise substantial doubt about its ability to continue as a going concern.”

The White House has denied for weeks that it displayed anything more than interest in the timing of the loan — and maintains it did not pressure OMB or the Department of Energy to make the loan.


Help Make A Difference By Sharing These Articles On Facebook, Twitter And Elsewhere: