BREAKING: New Revelations About White House Involvement in Solyndra Loan
WATCH the Today Show Highlight "Green Embarrassment"
WATCH ABC News Investigate "Whether Taxpayers Were Left Holding the Bag When the Warning Signs Were Clear"
READ The Washington Post: White House pressed on $500 million loan to solar company now under investigation
By Joe Stephens and Carol D. Leonnig, Published: September 13
The Obama White House tried to rush federal reviewers for a decision on a nearly half-billion-dollar loan to the solar-panel manufacturer Solyndra so Vice President Biden could announce the approval at a September 2009 groundbreaking for the company's factory, newly obtained e-mails show.
Solyndra collapsed two weeks ago, leaving taxpayers liable for the $535 million loan.
READ USA Today Editorial: Uncle Sam play venture capitalist? See Solyndra
In March 2010, the accounting firm PricewaterhouseCoopers issued a standard but stern warning about Solyndra, a California solar panel manufacturer: The company wasn't making money and never had, which raised "substantial doubt about its ability to continue as a going concern." Yet when President Obama visited Solyndra's plant in Fremont two months later, he gave a rousing pep talk and declared that "the future is here."
Alas, it wasn't.