White House was warned about Obama's Solyndra visit

Mon, 10/03/2011 - 22:52
White House was warned about Obama's Solyndra visit
Robert Weinstein

http://www.bbc.co.uk/news/world-us-canada-15160361

US President Barack Obama was advised his visit to an energy firm that later went bankrupt could come back to haunt him, newly released emails show.

A Democratic fundraiser warned that investors did not rate the chances of survival for the firm, Solyndra.

A White House official, meanwhile, said the May 2010 visit to its California offices could later prove embarrassing.

The solar panel firm received a $528m (£340m) federal loan in March 2009, but filed for bankruptcy this August.

The emails were revealed in an internal memo summarising more than 700 documents, released by Democrats on the House Energy and Commerce Committee, which is investigating the loan.

Venture capitalist Steve Westly - a prominent member of the Obama campaign team in California in 2008 - warned the White House about risks associated with the solar-panel maker.

In a 24 May 2010 email to White House senior adviser Valerie Jarrett, Mr Westly said: "Many of us believe the company's cost structure will make it difficult for them to survive long term. Read the rest at BBC [url]http://www.bbc.co.uk/news/world-us-canada-15160361[/url]

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