Burning Cash: Rep. Issa Attempts to Stop Future “Solyndras”

It’s a good thing for Americans that Rep. Darrel Issa is the Chairman of the House Oversight Committee, because for once it seems there is someone in Congress willing to stand up for what is right and not back down. Issa, a Republican representing California’s 49th Congressional district, has been an attack dog on such ethical issues as operation Fast and Furious, opening the investigation into the death of border patrol agent Brian Terry, who was shot with a gun that the ATF knowingly allowed to cross the Mexican border through a straw purchase, without tracking the weapons; supposedly the point of the whole operation. Without the tremendous effort of Rep. Issa this gross misconduct by ATF officials and possibly even Attorney General Eric Holder may never have come to light. We are still waiting to see how that situation pans out, as so far only 1 of the 5 officials apparently responsible has resigned.

Issa has also spearheaded the effort to investigate the suspected misconduct in approving Department of Energy loans intended to kick start the green energy industry. Solyndra is the most publicized of the failed loans, going bankrupt after receiving a $535 million taxpayer backed loan. The loan was restructured by the DOE in order to pay back investors in the case of bankruptcy, instead of first paying back the taxpayers. A major investor in Solyndra, billionaire George Kaiser, raised $500,000 for Obama’s 2008 election. I have written a blog entry in the past detailing the many DOE sponsored energy companies which failed, and the connection of the recipients of these loans to the Obama administration and campaign, as well as Senator Harry Reid. Read that article here.

Now the fact has come out that of the $60 Billion of taxpayer money that went to green technology, $11 Billion went to companies whose top officials donated to the Obama campaign, or like George Kaiser, bundled funds for the Obama campaign. (Bundling means he called his friends to donate as well). What makes this a clear conflict of interest is that normal procedure for approving government loans was not followed, and despite warning signs of imminent failure, companies like Solyndra were awarded huge loans which will now never be paid back. Only the opinions of White House appointed officials were taken into account when approving these loans.

The White House even had the nerve to criticize Issa’s investigation into the loan approval process as a waste of taxpayer money! As if the cost of the investigation–which falls under Issa’s responsibilities as the head of the Oversight Committee–did not pale in comparison to the money wasted through failed DOE loans. If the investigation stops just one more failure of a loan like Solyndra, than it will have saved the taxpayers multi-millions of dollars. (Original Article Here.)

Furthermore, there is evidence that the White House and other government officials conducted United States business–such as approval of loans to White House cronies–on private computers which do not automatically archive communications. This is a possible violation of federal law, but the White House claims any private communications were then forwarded to government e-mail accounts in order to archive the communications. I guess we should just believe them since it is the most transparent presidency in history. Commenting on this investigation into a possible breach of federal law by White House and other officials, the administration again claims this is a politically motivated attack by republicans who continue to waste taxpayer dollars–waste taxpayer dollars exposing corruption. Corruption which wasted far more tax dollars than a thousand ethics investigations could ever spend. (Original Article).

All the White House can do is divert attention. Pay no attention to that man behind the curtain, I am the great and powerful Oz. Either the Fast and Furious or Solyndra Scandal alone should have been enough to prove this President is incompetent at best. Why does the media ignore and marginalize these dramatic failures?

One thought on “Burning Cash: Rep. Issa Attempts to Stop Future “Solyndras”

  1. Pingback: Wait, High Tax Rates Make Businesses Flee? Duh. | Joe Jarvis

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