Obama fundraiser linked to loan program that aided Solyndra
Los Angeles Times ^ | 9/16/11 | Matea Gold and Stuart Pfeifer, Los Angeles Times
Posted on September 17, 2011 1:15:49 AM EDT by NormsRevenge
The White House faced mounting political complications as a second top fundraiser for President Obama was linked to a federal loan guarantee program that backed a now-bankrupt Silicon Valley solar energy company, and as two California lawmakers called for investigations of a state tax break granted to the firm.
Steve Spinner, who helped monitor the Energy Department's issuance of $25 billion in government loan guarantees to renewable energy projects, was one of Obama's top fundraisers in 2008 and is raising money for the president's 2012 reelection campaign.
Spinner .. was recused from the decision to grant a $535-million loan guarantee to Solyndra Inc. because his wife's law firm represented the company, administration officials said Friday.
But Spinner's role as a top official in the Energy Department program, which had not been previously revealed, is likely to spur new inquiries into whether political influence played a role in the handling of the "green" energy fund. ..
"This will fuel more questions, and now you've got real people involved at the inspector-general level who will be turning over chairs and cabinets, asking questions," said Stanley Brand, a criminal defense and ethics lawyer in Washington ..
...
Some Republicans in Congress charge that the White House pushed to get the loan approved for political reasons, which the White House denies.
Before its collapse, Solyndra was a showcase of the White House initiative to develop clean-energy alternatives. Obama visited the factory in May and praised Solyndra as a green technology company that would create jobs and help lead the country's economic recovery.
The company filed for Chapter 11 bankruptcy protection Sept. 6. ..
(Excerpt) Read more at latimes.com ...
http://discussions.latimes.com/20/lanews/la-na-solyndra-donor-20110917/10?page=2
