Documents: White House was all-hands-on-deck as Solyndra collapse neared
The Hill ^ | 3/23/12 | Ben Geman and Andrew Restuccia
Posted on March 23, 2012 8:29:01 PM EDT by Nachum
Several key White House offices were involved with the Obama administration’s messaging plans and other preparations as the collapse of the taxpayer-backed solar company Solyndra was imminent, newly released documents show.
The latest White House documents delivered to House Republicans on Friday again highlight the extent to which senior administration officials braced for the fallout as Solyndra – a company President Obama had personally visited – was about to go under.
A White House memo that noted the danger of “imminent bankruptcy” at the end of August 2011 says, “OMB, DPC and NEC have been working with press and OLA to be prepared for this news to break.”
Acronym translation: OMB is the Office of Management and Budget, DPC is the Domestic Policy Council, NEC is the National Economic Council and OLA is the Office of Legal Affairs.
The document, an update on Solyndra’s $535 million Energy Department (DOE) loan guarantee, notes that $527 million had been disbursed and that DOE believed no more funds should be alloted.
The White House document notes that the Treasury Department, OMB and other White House offices agreed that no more money should be provided because there was a “near-zero chance" that the company could survive.
The company collapsed at the end of August 2011 and filed for bankruptcy in early September. The Hill has reported previously on the administration decision not to attempt a last-ditch financial rescue.
White House internal communications during the company's final days include an email about a planned meeting to discuss Solyndra on August 29, 2011. Heather Zichal, a senior energy policy aide, and Deputy OMB Director Jeffrey Zients were slated to brief other officials.
(Excerpt) Read more at thehill.com ...
