Newspaper: Solyndra Was On Track For 2nd Major Federal Loan


Wednesday, October 5th 2011, 3:12 pm
By: News On 6


Russell Hulstine, NewsOn6.com

WASHINGTON -- The Washington Post is reporting the U.S. Department of Energy was ready to give Solyndra a second taxpayer loan of $469 million as late as the summer of 2010.

In 2009, the Energy Department had already provided Solyndra with a taxpayer-backed loan of $535 million.

The California company shut its doors on August 31, 2011.

Tulsa's Argonaut Ventures was the largest shareholder of Solyndra according to bankruptcy court documents.

The Argonaut Private Equity firm is headed by Tulsa billionaire George Kaiser. Kaiser is also chairman of the board for BOK Financial Corporation.

The Washington Post story says U.S. House Republicans have alleged the Obama administration was showing favoritism to a firm backed primarily by investment funds tied to Kaiser, a major Obama campaign fundraising bundler.

Read Washington Post story.

Solyndra has sought bankruptcy protection and has left taxpayers on the hook for the $535 million loan.

9/13/2011 Related Story: Lawmaker Concerned Oklahoma Tax Credits Supported Bankrupt California Firm