Friday, November 11, 2011

D of Energy: Securities Fraud?

Nothing is surprising when looking at Solyndra.  The Green Goddess must be paid, right?

At a number of points in its troubled history, the solar company Solyndra faced dire financial problems that threatened its survival. Yet at each crisis, Energy Secretary Steven Chu and officials at his agency failed to take steps that critics say could have limited taxpayer losses when the company collapsed last summer.
Instead, Energy Department officials monitoring the solar panel manufacturer and its $535 million federal loan stepped in with financial assistance, or worked to dispel concerns raised by industry analysts and other Obama administration staffers, according to previously confidential documents analyzed by The Washington Post.
 --Hot Air quoting WaPo

It's one thing to piss away taxpayer money.  It's another thing entirely to cover up/distort/lie about serious financial problems.

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