Solyndra Scandal May Reach the White House

3 Oct, 2011Featured, Interesting Information

A well known Silicon Valley investor and several senior administration officials warned President Obama and the White House to reconsider the president’s visit to the solar start-up company due to its deteriorating financial problems, predicting that he might be embarrassed by his association with Solyndra later. This turned out to be all too true, and now Obama is catching heat for accepting a large contribution from the failed company for his presidential campaign, and then returning the favor with over $500 million dollars in loans.

“A number of us are concerned that the president is visiting Solyndra,” California investor and Obama fundraiser Steve Westly wrote to Valerie Jarrett, Obama’s adviser, in May 2010. “Many of us believe the company’s cost structure will make it difficult for them to survive long term. . . . I just want to help protect the president from anything that could result in negative or unfair press.”

Now, the scandal may prove to be far more than merely “embarassing” to the Obama administration and could lead to legal action against the president. Watch the latest video news coverage: