Obama Warned Not To Visit Solndra

"A number of us are concerned that the president is visiting Solyndra, Many of us believe the company’s cost structure will make it difficult for them to survive long term. … I just want to help protect the president from anything that could result in negative or unfair press.” ... Steve Westly and an Obama fund raiser. This was before Obama ignored the advice and visited Solyndra. The Washington Post has obtained some emails released by
Democrats on the House Energy and Commerce Committee and they clearly show that the White House and Obama personally knew that Solyndra was a shaky investment. Another email suggests that the Dept of Energy's people were too inept to properly evaluate any of the $38 billion loan program.

"D.O.E.’s ‘system’ for monitoring loans is quite problematic (barely any review of materials submitted, no synthesis for program management, inherent conflicts in origination team members monitoring the deals they structured, etc) and does not seem to be a program priority,” and this in an exchange between Brad Jones of Redpoint Ventures, and National Economic Council director Larry Summers in December 2009.

Jones:“(W)hile that is good for us, I can’t imagine it’s a good way for the government to use taxpayer money,”

Summers: “I relate well to your view that gov is a crappy vc [venture capitalist] and if u were closer to it you’d feel more strongly.”

Wow! I wonder if this is why a poll found that just 15 percent of Americans trust the government to do what is right just about always or most of the time, down from 25 percent a year ago.