RECENTLY PROVIDED DOCUMENTS REVEAL PRESIDENT’S INNER CIRCLE VOICED CONCERN WITH SOLYNDRA, WEALTHY CAMPAIGN DONORS HAD DIRECT LINE TO WEST WING

WASHINGTON, OCT. 5, 2011 – Oversight and Investigations Subcommittee Chairman Cliff Stearns (R-FL) is seeking all communications between White House staff and officials regarding now-bankrupt Solyndra’s $535 million loan guarantee.  The Committee leaders have requested all documents dating back to President Obama’s inauguration on January 20, 2009. Recently produced documents reveal the President’s closest confidantes closely monitored the Solyndra loan and wealthy donors also weighed in on Solyndra to those officials closest to the Oval Office.

Stated Stearns, “Nearly eight months into our investigation, documents provided to the Committee last Friday confirm those closest to the President - top advisors like Valerie Jarrett, Larry Summers, and Ron Klain - had direct involvement in the Solyndra mess.  In addition to the cast of West Wing characters with access to the Oval Office, documents reveal a startlingly close relationship between wealthy donors and the President’s confidantes, especially in matters related to Solyndra.  While the President claims ‘hindsight is always 20/20’ and the loan went ‘through the regular review process,’ the facts tell a much different story with some of the loudest alarm bells on Solyndra’s viability coming from within his very own administration.”

The letter points out, “At certain critical points in the history of Solyndra’s loan guarantee, the two agencies charged with oversight of the DOE Loan Guarantee Program disagreed about Solyndra’s financial condition.  Yet, decisions were made to stand behind the guarantee, resulting in the President’s visit to the company in May 2010 and the decision to restructure the deal and subordinate the taxpayer funds in early 2011.” 

Click below for copy of letter