Emails Catch White House Lie on Green-Energy Loans

Marita Noon

Marita Noon - When he is confronted about the failed green-energy loan program, President Obama deflects blame—pointing to “career bureaucrats” in the Department of Energy (DOE) who supposedly approved the loans that have become an embarrassment to the White House. 

For months, along with researcher Christine Lakotos, I’ve been reporting on, first, the junk-bond rated projects (such as Solyndra) that received fast-tracked approval from the DOE and, then, the failed and troubled stimulus funded companies. Solyndra was just the tip of the iceberg. Embarrassment after embarrassment has come to light as the projects touted as the hope for America’s future have filed for bankruptcy, sent money and jobs overseas, and faced technical difficulties.

The 1705 loan guarantee program had 460 applicants, but only 7% were approved—26 projects were funded. Of those 26 projects 22 were junk-bond rated—meaning private investors wouldn’t fund them. So why did we, the taxpayers?

Our research showed that at least 90% of the projects had close ties to the White House and other high ranking Democrats. Despite the obvious connection, President Obama has repeatedly denied any involvement—preferring to blame “career bureaucrats” who could take the fall with no political consequence. Read More News New Mexico

Emails Catch White House Lie on Green-Energy Loans