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WH Considered Bailout for Solyndra



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If the news that top Solyndra executives received large bonuses (on top of already lavish salaries) months before the taxpayer-backed company declared bankruptcy doesn’t do the trick, surely this revelation will have all of the Zuccotti Park protesters in an uproar:

WASHINGTON — Days before a solar panel maker collapsed, the Obama administration considered a bailout that would have provided an infusion of cash and a new board of directors, including two directors appointed by the Energy Department.

Officials rejected the plan, which was recommended in August by the investment banking firm Lazard Ltd. Lazard was paid $1 million for analyzing options related to the faltering company, Solyndra Inc.

More here.

It would certainly be interesting to know more about this, and other aspects of the Obama administration’s role with regard to the failed solar company and the $535 million taxpayer-guaranteed loan it received. To that end, the House Energy and Commerce Subcommittee on Oversight and Investigation will vote tomorrow to subpoena all internal White House communications relating to Solyndra, though administration officials have declined to say whether or not they plan to comply.



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