Politico reports on the connection between Solyndra and recent Obama fundraising:
Two Obama fundraisers involved in the controversy surrounding embattled energy company Solyndra ramped up their efforts on behalf of the president’s campaign in late summer, according to the campaign’s voluntary disclosure of its bundler list, released late Friday…
Steve Spinner, a longtime Obama fundraiser of Menlo Park, Calif., raised $500,000 or more during the third quarter, up from $200,000 to $500,000 during the second quarter.
Spinner got a spot in the administration to help monitor the clean energy program that eventually gave $535 million in loan guarantees to faltering Solyndra, which was once touted as a model for business-government partnerships by the Obama White House.
Spinner repeatedly pushed the Energy Department and the White House to commit to a loan before Vice President Joe Biden’s trip to the company’s headquarters in September 2009, according to emails released by the administration last week.
And for those who argue that the Solyndra debacle was just another case of the government making a poor investment…
Two senior Treasury officials said Friday that they had never seen a loan restructuring similar to an Energy Department loan to a failed solar panel maker.
The half-billion dollar loan to Solyndra Inc. was restructured earlier this year so that private investors moved ahead of taxpayers for repayment on part of the loan in case of a default.
Treasury officials Gary Grippo and Gary Burner told a House committee they had never seen that occur in a federal loan. Grippo is a deputy assistant treasury secretary and Burner is chief financial officer at the Federal Financing Bank, which made a $528 million loan to Solyndra in 2009.
The two Treasury officials stopped short of declaring the loan restructuring illegal, as some Republicans allege.