A veteran Wall Street executive who performed a review that exonerated the Obama administration's program of loans to energy companies contributed $52,500 to re-elect President Obama in the months since completing his work, according to an Associated Press review of campaign records.
As much of the nation broils under the merciless July sun, the Obama administration can't resist the urge to burn cash on "green" energy projects. Each time one of these solar-energy firms flames out, American taxpayers get singed. Even a sundial would indicate it's quitting time.
Not yet two years after the Department of Energy awarded $43 million in loan guarantees for Beacon Power's energy storage plant, government attorneys are calling the bankrupt solar company and its affiliates little more than "empty shells" benefiting lawyers and other bankruptcy professionals.
The former Treasury Department official who oversaw a review of the Obama administration's energy loan program on Tuesday defended the decision not to review bankrupt Solyndra LLC as part of his audit.
Back when President Obama toured the company last year, California-based Solyndra LLC billed itself as an innovative solar-panel maker whose product would transform the energy market and create lots of jobs near its Fremont, Calif., headquarters.
Embattled Greek Prime Minister George Papandreou on Monday called for a confidence vote and a referendum on last week's EU debt deal, taking a political gamble to silence growing opposition.