Solyndra takes the fifth.

Solyndra executives have invoked a clause in our Fifth Amendment to the U.S. constitution in their testimony to U.S. congress.  To wit…. “[No person]…. shall be compelled in any criminal case to be a witness against himself, ……”

Well, we wondered if any laws were broken, now we can be pretty sure there were.  Now we just need to find which ones.  One, that has obviously been broken is the stimulus law itself……. The economic stimulus law provides for taxpayers to be ahead of other creditors in the event of bankruptcy or default.  However, Solyndra’s loan was restructured in February to put the tax payers on the bottom of the list of repayment in the event of default.  6 months later Sloyndra shuts its doors and vaporizes 1100 jobs.  This is a clear violation of federal law.  Incredibly, the Dept. of Energy signed off on this restructuring, saying they we protecting the taxpayer by allowing private investors to be repaid first, thereby giving Solyndra a better chance of success.  rr….uhhmm  HOW???  Some one please explain the rationale that paying the U.S. back last helps any company succeed or fail!!!  The lying scumbags in the administration are being entirely disingenuous.  We need a special prosecutor and we need one now. 

Right now, the obvious questions would be, who benefits the most from the restructuring and why did the administration put their interests above the interests of the American people?

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10 Responses to Solyndra takes the fifth.

  1. Latitude says:

    I think it’s even funnier that Obama gave them our money….
    …so they could give it back to him as campaign contributions

    ..not really funny at all

    • suyts says:

      No, not really very funny. Indictments should already be handed out. Someone authorized the loan restructure. It is a clear violation of law. Whoever is responsible needs to go to prison, and we need to find out where the $500,000,000 went.

      • Latitude says:

        Obambi and Biden ok’ed it…..and rammed it through
        Even when they were advised not to

      • suyts says:

        For the original loan, that piece of idiocy is clear. But the restructuring that allowed private investors to be paid back first, seems to have been ok’ed by the Dept. of Energy….. Did Obama and Biden tell them to? Or was this the brainchild of Steven Chu? (He seems to have an affinity for the nice round number of $500,000,000) And who directly benefited from this restructuring of the loan? It seems to me the answers to these questions pretty much get to go directly to jail and would lead to deeper answers to obvious questions.

      • Latitude says:

        now wouldn’t that be a hoot……………..

        it was crooked from the get go…..all of their financing and investments add up to a little over 1 1/2 billion.
        How could they have that much in the bank, and go belly up only 9 months later.

      • suyts says:

        No doubt! How can you spend money that fast? We have parts that are a year out before delivery!

  2. Mike Davis says:

    Executive salaries and expert advisory fees. The front money was probably inflated street value of real assets rather than cash. Sort of like letters of credit but they were never borrowed against.
    I am certain people lost money but it was not the principles or those who greased the path for their government guaranteed loans!

    • suyts says:

      Yes, that $500,000,000 went somewhere.

    • Mike Davis says:

      It happens in regional governments also. A bond is issued to cover a project that is supposed to provide recreational facilities and marketing research is provided to show the money can be repaid through ticket sales or admission fees. A private group is established to oversee the project but may well have been the instigator. Money is paid and eventually the project runs over budget or fails to return anticipated funds. Many excuses are found for the default but the taxpayers are the losers along with some gullible investors that wanted to get rich quick!
      I lived in scam city or should I say state where this was common practice

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