Mary Altaffer, File, Associated Press
WASHINGTON — Republican presidential contender Mitt Romney has revived charges about the failed solar company Solyndra as he assails President Barack Obama' green energy policy. But he didn't get the story completely straight when he accused the administration of favoring "cronies."
Solyndra, the first renewable energy company to receive a federal loan under the 2009 stimulus law, went bankrupt last year and laid off its 1,100 workers, leaving taxpayers on the hook for more than $500 million.
The company's implosion and revelations that Obama administration officials rushed to complete the loan in time for a September 2009 groundbreaking have become an embarrassment for Obama and a rallying cry for GOP critics of his green energy program.
On Thursday, Romney stood outside the company's former headquarters in California to decry Solyndra as Exhibit A of presidential missteps on the economy.
A look at some of Romney's assertions and how they compare with the facts:
ROMNEY: "An independent inspector general looked at this investment (Solyndra) and concluded that the administration had steered money to friends and family — to campaign contributors."
THE FACTS: There is no proof — and it appears unlikely — that Energy Department Inspector General Gregory Friedman was talking about Solyndra when he testified in March 2011 about stimulus contracts. Friedman said his office was investigating whether such contracts were steered to friends and family, presumably of government officials in charge of spending stimulus money. Romney cited a Newsweek article that referred to Friedman's testimony.
But Friedman did not say that such claims had been proved, and there is no evidence he was including Solyndra in his comments. The testimony came nearly six months before the company declared bankruptcy. And there is no evidence that family members of top federal officials received any favors. Friedman's office is among several federal agencies that are investigating Solyndra.
ROMNEY: "President Obama was here to tout this building and this business (Solyndra) as a symbol of the success of his stimulus. It's a symbol not of success but of failure. It's also a symbol of a serious conflict of interest (and) how the president thinks about free enterprise. Free enterprise to the president means taking money from the taxpayers and giving it freely to his friends."
THE FACTS: So far, there is no indication of White House interference with the energy loan process. There is no question, though, that campaign contributors have ties to Solyndra and other energy companies that have received federal money. Romney appeared to be referring to possible political influence wielded by two major Obama campaign donors with ties to Solyndra.
The Energy Department hired Steve Spinner, a former sports fitness executive, to help monitor the loan guarantee program that benefited Solyndra. Emails released to Congress show Spinner was actively involved in the Solyndra loan, despite pledging to step aside because his wife's law firm represented the company. Spinner, who left the Energy Department in 2010, was a major contributor to Obama's 2008 campaign and is again raising money for the president's re-election.
George Kaiser, an Oklahoma billionaire, invested $400 million in Solyndra through an investment vehicle connected to his family foundation. Kaiser was a "bundler" for Obama's 2008 campaign, raising between $50,000 and $100,000 for the president, records show. He also was a frequent White House visitor in 2009 and 2010.
Kaiser has said he played no part in helping Solyndra win the 2009 loan, but emails to Congress show he discussed Solyndra with the White House on at least one occasion. Kaiser also directed business associates on how to approach the White House and Energy Department to help Solyndra deal with its financial problems.
- Job insecurity is the new normal. Here's how...
- 19 little-known facts about the Mission:...
- 31 things you might not know about the Harry...
- Cake: The new favorite mode for American...
- The one thing you may be giving your children...
- What went right: How one Orem family turned...
- Obama rule for power plants to compel steeper...
- 'Mission: Impossible' climbs to No. 1,...
- Abortion supporters get help from... 24
- Job insecurity is the new normal.... 23
- Cake: The new favorite mode for... 22
- Trump's call for mass deportations runs... 21
- Obama rule for power plants to compel... 21
- The lie behind the idea that ‘sex... 15
- Some Americans refuse to give up on... 13
- Obama to extend college Pell grants to... 12