Documents Reveal: Solyndra Worries Were Mounting At White House Last Year

Emails exchanged between President Obama and top White House officials last year expressed concern over now bankrupt solar equipment manufacturer Solyndra.

One official for the Office of Management and Budget wrote:

“I am increasingly worried that this visit could prove embarrassing to the administration in the not too distant future.”

Other emails go on to state the same type of skepticism over the plan with Democrats warning that the visit could backfire in Obama’s face after his May 2010 visit.

In one document Brad Jones, an executive at Redpoint Ventures wrote:

“One of our solar companies with revenues of less than $100 million (and not yet profitable) received a government loan of $580 million … While that is good for us, I can’t imagine it’s a good way for the government to use taxpayer money.”

Jones went on to write:

“The allocation of spending to clean energy is haphazard; the government is just not well equipped to decide which companies should get the money and how much.

In other documents prepared for the House Energy and Commerce Committee it was revealed that Democrats considered scaling back or terminating their loan guarantee program because of mismanaged systems that offered no feasible business profit structure.

In one email a concerned official wrote about Solyndra:

“What’s terrifying is that after looking at some of the ones that came next, this one started to look better,” while adding, “Bad days are coming.”

While some GOP members have attacked the Democratic party for their issuance of green energy funds members of the party say the e-mails and other documents show a “vigorous internal debate” which is required to get things done in Washington.

Do you think the Government began dolling out green energy loans without proper oversight considering the complete collapse of Solyndra?


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