You're watching...
Former Crazy Eddie’s CFO Sam Antar sounds off on the growing scandal surrounding the solar-panel company.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Now by now.
We all know the story the Obama administration approved a half billion dollar loan to -- it's a solar company that's now broke.
The company is under investigation by the FBI convict at white collar felon.
-- here Sam I need to the street everyone this smells bad to you how -- -- -- It smells bad but every every crime or every scheming when you have a executive -- in the pipe dream.
You have to have a -- was half that people that you take advantage of the good natured -- that's somebody that you sell the story to and the government fell into the trap.
Here's a thing now here's an there that really what to meet -- smells bad that the government was it innocently duped or was this payback for political favor and if so is that illegal.
Of course it's illegal but we don't know and now we do know that the -- have BI raided their offices than that reading their offices on the women we call on the red -- -- it's -- looking for a part -- -- convicted felon you know about cooking books top that cylinder give people can't get our 500 million dollars of our money.
How could they seduce the government into doing that that they you could they have possibly.
-- -- false book to make false promises that's that's possible also but we do besides that you have to look at to the psychological element everybody wants clean energy.
So if you can get a politician that's attached to the issue which we try to -- -- you try to sell among the idea and you take advantage of them in this case the Obama administration.
And at the same token the federal government this.
Throwing billions trillions of dollars extra into the economy is no way to monitor the funds effectively and -- money.
Crime always follows.
Yet but again it's -- the idea -- though that the -- you're describing it feels like the White House is is being innocently duped.
Now let's and there's a whole lot enough -- I didn't instantly do it doesn't matter the point is is that people get taken advantage of what it did duped or not.
Right but the point as though we're talking about criminal stuff here prop possibly felonies possibly.
Who what did why the White House know whether they know and I mean obviously these guys are sitting in -- boardroom meetings.
This was initially talked about -- wow.
We don't think this is gonna happen it was sort of a mistake you know that happened to comes with the territory.
But there is deeper than that they've set it on board meeting someone -- -- look at the books and now that this is a faulty investment from the beginning.
This is saying among criminals keep -- friends close yet enemies closer.
Just because somebody's in on the board meeting they could also be taken advantage of my my point is is that we really don't know the bottom administration.
Is permanently culpable and not.
But at the very least we know that people look deceived the people with taken advantage.
At the end of the day is the taxpayer that's being taken advantage that's for me it's not some of the investment by the government in this company its the fact that they had a hand in the decisions on the board of this company.
That for me is what gets into a very sticky situation for the taxpayer.
Agreed but -- at the also at the end of the day you have the Republicans.
Taking advantage of this issue.
And using it by saying.
Hold them and I'm all eyes hot ticket Democrats and administration -- just -- lawyers and the White House there be subpoena pipeline.
Early on what are part of the same hypocrisy here that hasn't had to -- -- impala.
The game is played by both parties on each other and -- the reason why is because they're spending somebody else's money.
There's so there agenda is so driven on Green energy and if I've said it many times -- -- I want to get between the government's checkbook and Green energy because -- handed -- all kinds of money.
So for all competing for the government money.
Then I'm gonna give some political money to get and then in front of the line from the rest to be so I can get the contract from the government but the people given the contractor spending.
Not their money that's why Dick Hoffmann -- -- billion dollars of their own money into the scheme malls.
It could have been a pipe that -- been a pipe bomb -- driven by -- it could have been a pipe dream.
And He took advantage of the government could have been a piping the need for the government to get the money we don't know that.
-- brought a -- because the government has gotten giant that's the only thing this country that's growing as the government now we're talking.
Half a trillion dollars more money what kind of crime what is that gonna to see you know -- we know it's going to be for a while for all kinds of crime right.
Whenever you throw money at a problem.
Crime is going to follow OK let's put it this way if you through a half a trillion about the -- hit the -- -- my way I figure out a way this can you tell.
-- hit hit.
You wanna ask you then as being who you are you see this another round another round of stimulus being thrown -- their money being thrown at projects around this country.
What is Euribor and I wouldn't public.
-- -- -- it in 2009.
The head of the FBI He warned that we withdrawal all this money around is going to be more fraught.
Generally speaking for every hundred dolls they spend is -- -- be five dollars and fourth but at the same token.
How can now we'll go if the Republicans at the same token the Republicans have -- -- cut money.
Colombo -- the new book we're broke off track him by the we're running out of time before we let you go everyone check you got to watch.
That's not get accomplished okay -- and Antar thank you thank you very much.
