Sunday, September 04, 2011

Solyndra Smell, Part 44


Seems that there was an interesting gyration in the Solyndra deal.

...Sources tell me the Obama administration restructured the loan this winter, so taxpayers probably won’t even be the first creditors to get paid after Solyndra files for bankruptcy next week. The first $75 million will go to two Solyndra investors who poured in extra cash when the company nearly went bust in January. And one of them is a venture associated with the billionaire George Kaiser, an Obama campaign bundler...Verum quoting Grunwald/Time Magazine

Uglier and smellier every day or so.


Billiam said...

Why not? He screwed over the Chrysler bondholders.

neomom said...

And Delphi salaried employees...

Obama's Contract Law is exactly who he wants to benefit from it.

Where the hell is SCOTUS on this?

Billiam said...

Hell, the Law doesn't matter to politicians. If I'm not mistaken, the way the auto bailout was handled violated a number of Bankruptcy laws. Who cares anymore? No one in DC.

neomom said...

Did you see that a judge threw out half the Delphi suit?