Just another Obama administration proven mistake!

Another day and yet, another taxpayer funded bailout to a politically connected energy company up to its eyeballs in debt. No, no make no mistake about it we are not addressing Solyndra here. We are addressing a California company that makes Solyndra look like small potatoes. We are writing about a company, SunPower, and a loan provided for it using taxpayer dollars that are tainted by corruption and terrible judgment. Before the dust has even settled in the Solyndra matter, the Obama administration intends to lend $1.2 billion government loan guarantee to SunPower who has already reported $820 million in debt.

On February 1 Judicial Watch, Inc filed a Freedom of Information Act (FOIA) lawsuit against the U.S. Department of the Interior and the U.S. Department of the Treasury for records regarding the controversial $1.2 billion government loan guarantee from the Obama Department of Energy to SunPower, a California solar company reportedly $820 million in debt. (A similar lawsuit was filed on the same date by Judicial Watch against the U.S. Department of Navy for related documents.)

Judicial Watch has also asked for records regarding a visit to SunPower’s Richmond, California, production facility on October 14, 2010, by Interior Secretary Kenneth L. Salazar, U.S. Congressman George Miller III (D-CA), and others. (Miller’s involvement in SunPower has been the subject of several investigative pieces in Human Events.) The FOIA request submitted to the Department of the Navy sought access as well to “any and all records regarding, concerning or related to the $100,268,000 firm-fixed-price task order awarded to SunPower, Inc. on September 30, 2011.” 

In light of the lawless Obama administration loan to the now bankrupt energy company Solyndra, the SunPower loan has come under intense scrutiny. Remember, this loan is double the size of Solyndra! And SunPower is not only drowning in $820 million of debt and besieged by shareholder lawsuits, but the company also plans to manufacture its solar panels at a new facility of some 320,000 square feet located in Mexicali, Mexico. (Nothing like using more than $1 billion in American tax dollars to subsidize jobs in Mexico, right?) Sounds like the Coco Cola company to me.

There’s a congressional corruption angle, too.

As reported by Human Events, Congressman Miller has been a champion for SunPower, which has operated a solar panel manufacturing facility in his district, and pushed for the loan guarantees: “In support of the loan request, Rep. George Miller III, the co-chairman of the policy and steering committee for House Democrats, wrote a letter to the Department of Energy and led Secretary of the Interior Kenneth L. Salazar on an Oct. 14, 2010, tour of the company’s facility in Richmond, Calif.” 

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  1. […] Just another Obama administration proven mistake! (americanage.wordpress.com) Share this: Pin ItShare on TumblrDiggPrintEmail barack obama, government, obama, political, politics, soetoro, subversion, treason, yes we can BarackObama, Freedom of Information Act, George Kaiser, JudicialWatch, obama, Office of Management and Budget, politics, Solyndra, United States Department of the Treasury Obama ~ Compendium Of A Liar! Judicial Watch Launches Nation Wide ~ “The 2012 Election Integrity Project” […]

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