Solyndra scandal unraveling Obama’s credibility

Published September 14, 2011 4:00am ET



If you guys think this is a bad idea, I need to unwind the W[est] W[ing] QUICKLY,” so said Vice President Biden’s then-Chief of Staff Ron Klain in an email about President Obama’s impending $535 million loan guarantee to California solar panel manufacturer Solyndra, on March 7, 2009. In fact, some officials in the Obama administration thought the Solyndra loan was a lousy idea. “This deal is NOT ready for prime time,” a White House budget analyst emailed three days later. Documents made public Wednesday by the House Energy and Commerce Committee show why: An Energy Department analysis of Solyndra’s business model performed two years ago predicted that the firm would run out of money in September 2011. But that fact was ignored by the president and his political advisers who wanted a “green jobs” photo op, no matter the cost. The result was, as an Energy Department analyst said in another email, “given the time pressure we are under to sign-off on Solyndra, we don’t have time to change the model.”

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