On March 20, 2009, the Obama connected and now infamous Solyndra, Inc. announced that it was the first company to receive an offer for a U.S. Department of Energy loan guarantee under Title XVII of the Energy Policy Act of 2005.
Solyndra said in the announcement that it would use the proceeds of a $535 million loan from the U.S. Treasury’s Federal Financing Bank to expand its solar panel manufacturing capacity in California.
The press release closes this way:
Goldman, Sachs & Co. acted as exclusive financial advisor to Solyndra in connection with this loan guarantee application.At the time, Goldman was in the good graces of the White House, though perhaps not so at present. Replacing Goldman as investment banking friends of the White House are JPMorgan headed by Jamie "Obama's favorite banker" Dimon and UBS man, Bob Wolf. It should be noted the next "public-private" scam to be hoisted on American taxpayers (which will in part replace the solar scam) is the infrastructure scam, which is being pushed hard by Wolf.