Solyndra - Putting the Puzzle together

I am still trying to put together the pieces of this puzzle together but here is what people want me to believe:

The President - in an attempt to reward one of his campaign donors, forces the DOE to loan 500 million taxpayer dollars to a company that they know will go bankrupt, thus costing the government (taxpayers) and the investors (campaign donor) millions of dollars of losses.  This will discredit the Solar Energy Industry, and at the same time end up giving tax credits to the (campaign donor) who's fortune derives from the oil industry.

How Machiavellian!  And you claim that the President is a Socialist Liberal, when this proves in fact that he is a capitalistic stooge!  Wow!

Here are some things to watch for:

"Under terms of the February loan restructuring, two private investors - Madrone Partners LP and Kaiser's Argonaut Ventures I LLC - stand to be repaid before the U.S. government if the solar company is liquidated.

The two firms gave Solyndra a total of $69 million in emergency loans. The loans are the only portion of their investments that have repayment priority above the U.S. government.

Argonaut is an investment vehicle of the Tulsa-based George Kaiser Family Foundation. Through Argonaut, the foundation holds a 39 percent stake in Solyndra.

George Kaiser, chairman of BOK Financial Corp., raised between $50,000 and $100,000 for Obama's 2008 campaign, federal election records show. Kaiser has made at least 16 visits to the president's aides since 2009, according to White House visitor logs.

Madrone Partners is affiliated with the Walton family, descendants of Wal-Mart founder Sam Walton. Rob Walton, the eldest son of Sam Walton, contributed $2,500 last year to the National Republican Congressional Committee."


http://www.tulsaworld.com/business/article.aspx?subjectid=592&articleid=20110917_49_E1_WASHIN711341


So $69 million is ahead of the $535 million of taxpayers money.  Should no be a problem with a company that might be worth a at least $500 million - right?  Not if the first companies buy the full assets under a fire sale which might happen.  This needs to be followed - not to find any scandal, but rather to see how money makes money and tries to make a silk purse out of a sows ear....

There will be incompetence and criminality if you look for it.  It will not rise to the level of an Enron or TRW (if it does it shows that businessmen are the most ego oriented people [It can't happen to me!]  and that we need more regulation not less.)

So keep watching and take it all in but don't expect it to prove anything - on either side.

ChrisZ