Excerpts from Townhall
By: Reince Priebus
Thursday, September 22, 2011
“The more we learn about the failure of the stimulus-backed company Solyndra, the more questions we have. It is time the White House give us honest answers …
“On Tuesday, Solyndra executives announced they would plead the fifth before a Congressional hearing on Friday. Their silence effectively blocks Americans from getting to the bottom of the situation. They will leave us still wondering how Solyndra and the Obama Administration could so grossly mismanage taxpayer dollars …
Not only did the administration rush approval for Solyndra’s $535 million loan in 2009, but later in 2011, it restructured it so that private investors would be paid back before the government. In other words, the Obama administration chose to give preferential treatment to investors – including a political contributor – over their fiduciary responsibility to protect the American taxpayer …
“If there is nothing to hide, why not be forthright with the American people? Why not put the issue to rest? When it spends over half a billion dollars in a bad investment, the White House should be able to explain what went wrong. If they continue to refuse, they will only confirm Americans’ suspicions that the Solyndra loan was not an investment to win the future, but rather an investment to win re-election.”
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