Rep. Stearns calls White House action in Solyndra scandal “illegal”

November 5, 2011 19:49

The committee investigating the cash for campaign funding scandal in which the Obama administration approved a half billion dollar loan to the now bankrupt solar company Solyndra has subpoenaed all White House documents relating to the loan.

The administration approved the loan which had been turned down by the Bush administration because the main investor in Solyndra is a big Obama campaign fund raiser. The administration then illegally restructured the loan in February to protect that fund raiser ahead of taxpayer funds. Taxpayers have lost all $535 million.

According to documents the White house also considered giving Solyndra another $100 million loan just before they filed for bankruptcy.

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