Since we first write about the collapse of Solyndra, the solar energy company favored by the White House with a $535 million taxpayer funded loan, the stench has only gotten worse.
Rather than restate the facts, here are links to our four previously published posts:
September 10, 2011 – September 13, 2011 – September 16, 2011 – Fox, September 19, 2011
For those of you following this evolving scandal, here are a few more important developments and relevant details:
At least five high level investigations have been initiated including the FBI, the Inspector General of the Department of Energy, the Inspector General of the U.S. Treasury, the House Energy & Commerce Committee, and the House Government Reform and Oversight Committee.
Lamar Smith, Chairman of the House Judiciary Committee, has called on the Justice Department to appoint an "Independent Investigator" to look into the growing scandal.
Attorneys for Solyndra CEO Brian Harrison and CFO W.G. Stover, originally scheduled to testify to Congress this Friday, notified the House that the executives will invoke the Fifth Amendment and not answer questions.
Rep. Fred Upton, Chairman of the House Energy & Commerce Committee, cited an "apparent violation of the law" during opening statements in a House hearing last week; a reference to the Energy Policy Act of 2005 that authorized the loan program to the benefit of Solyndra, but importantly contained a prohibition against subordination of the taxpayers secured position.
Former Assistant U.S. District Attorney, Andrew McCarthy ratcheted up the allegations further by alleging the actions of the Obama Administration are "criminal fraud." McCarthy says any competent prosecutor will pursue that line of investigation and points out that, "Fraud against the United States is one of the most serious felony offenses in the federal penal code."
Disregarding the exploding scandal, the DOE announced another half billion in loan guarantees to solar energy companies since the Solyndra collapse and reports suggest a dozen or more are being rushed through the pipeline prior to the programs expiration on September 30.
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