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Thursday, September 29, 2011

Solyndra Downfall Spurs New Information On Democratic Connections To Federal Loan Guarantees

By Susan Duclos

Quick recap from yesterday's post:

What you will see below, in short is that Solyndra defaulted on its $535 million loan and has shut down (Headline one), two other solar industry companies that received money from Obama's stimulus plan have filed for bankruptcy or bankruptcy protection (Headline two). The Deputy Secretary of Energy wrote that a combination of issues including the 42 percent plummet of the price of solar cells has "taken a serious toll on solar manufacturers everywhere," (Headline two) but the Energy Department has gone ahead and finalized more than $1 billion in loan guarantees for two separate solar energy projects (Headline three) and will announce on Thursday whether nine federal loan guarantees amounting to $6.5 billion for green energy projects will get final approval, to create jobs which will cost $23 million per job. (Headline four)

Click over to see the actual headlines and article quotes.

TODAY, we see even more concerning news about the Democratic connection on loan guarantees from the Obama administration to companies that employ executives or board members who have donated large sums of money to Democratic campaigns.

A Daily Caller investigation has found that in addition to the failed company Solyndra, at least four other solar panel manufacturing companies receiving in excess of $500 million in loan guarantees from the Obama administration employ executives or board members who have donated large sums of money to Democratic campaigns.

And as questions swirl around possible connections between political donations and these preferential financing arrangements, the Obama White House suddenly began deflecting The Daily Caller’s questions on Wednesday to the Democratic National Committee.

Asked Wednesday to comment on the connection between large Democratic donors and Obama administration loan guarantees to the companies they represent, the White House responded to TheDC with a single sentence: “We refer your question to the Democratic National Committee.”

That is a three-page article, well worth the time it takes to read.

For giggles, here is Jon Stewart again ripping into Obama over Solyndra.