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Fed Audit Confirms Govt. Corruption In Solyndra Deal

April 6, 2012
Judicial Watch
4/5/2012

The “serious concerns” of U.S. Treasury officials involving a risky $535 million infusion for a fly by night solar panel firm were ignored as the deal was fast-tracked by the Obama Administration, according to a federal audit released this week.

Bankrolled by Obama fundraiser George Kaiser, the now-defunct northern California company (Solyndra) got more than half a billion dollars from the U.S. government to promote green energy. Instead, it abruptly folded last fall, stiffing American taxpayers and laying off more than 1,000 workers. From the start, it was a controversial deal that was suspiciously rushed through for a politically-connected entrepreneur that had raised large sums for Obama.

This week a Treasury Inspector General report sheds light on the scandalous process that, not only ignored warning signs about the startup company’s viability, but also blew off the concerns of officials at the agency responsible for doling out the cash. The “loan,” which will never be repaid, was rushed through by Obama appointees at the Department of Energy (DOE) without Treasury input.

And now… the rest of the story. …..

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