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Volume 3 www.obamabidenwatch.org Issue 9 September 2011 www.citizensunited.org The “Kaiser” Soze of Obamaland When President Obama was elected he promised to was flawed. This was clear to Wall Street, this was usher in a new way of doing business in Washington. clear to senior government officials, but this was not Well past the half way point of his administration, it clear to the White House. is clear that much like his promises of “Hope” and “Change,” a new Washington was little more than Solyndra sought funding to build a plant to produce empty rhetoric. its unique brand of solar panels. It went to Wall Street, but was largely rebuffed. The most optimistic Obama pledged to ban lobbyists from serving in his response Solyndra received was from Dun & Brad- administration, but granted waivers to the lobbyists street which rated the company as “fair.” The ratings he wanted on his team. He pledged to make the agency Fitch, rated Solyndra a B+, one of its most White House more transparent by placing its visitor speculative ratings. One distinct problem for Solyn- logs on the internet, but his clever staff hosted meet- dra was the excessive cost of its unique solar panels. ings with lobbyists at local coffee shops, free from the burdens of disclosure. His reform rhetoric has Absent broad Wall Street support, Solyndra looked to masked the fact that his administration is actively dol- the government for assistance. During the Bush Ad- ing out favors to entrenched special interests and his ministration Solyndra was denied loans by the Energy political supporters. Department. The Office of Management and Budget recognized that Solyndra was too high a risk to move The most glaring example of President Obama’s forward. “reformed” Washington, is how his political staff over stepped its boundaries to secure government Once the Obama Administration ushered in its new support for a green energy startup funded by one of way of doing business in Washington, things started Obama’s biggest financial backers. The startup was to look brighter for Solyndra. Despite Wall Street’s named Solyndra. Financed by Obama funder George negative views of the company and its costly solar Kaiser, Solyndra produced solar panels for mounting panels, Solyndra found support within Obama’s on rooftops. They sold a dream – that you could White House for its expansion plans. transform the large empty rooftop square footage into a lean, mean, energy-producing machine. This The Department of Energy and the Office of Manage- dream, much like Obama’s promises of hope and ment and Budget took a new look at the Solyndra change, was never realized. loan. This time they reached a different conclusion: they would support the proposal. This decision was While the dream of Solyndra warms the hearts of the not fully vetted because Al Gores of the world, the reality is that the business senior political officials Continued on the next page...