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Rep. Tim Murphy (R-PA) on today's Solyndra hearings, and if the Department of Energy broke the law.
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That's my two cents.
Joining me now Republican congressman Tim Murphy of Pennsylvania.
A member of the house energy and commerce committee that held today's hearings congressman welcome to the show great to have you here.
He'll we were all on tender hooks waiting to see what the treasury officials would say if they would.
Hot condemned the administration for pushing this thing through and for changing.
Who we get paid first that the company went belly up.
But they really didn't criticize the administration did -- Well they criticize and directly Department of Energy basically department treasures was saying.
We know the law the deal we Department of Energy was supposed to consult with Department of Justice.
They knew that the -- said that the taxpayers couldn't take a second place and getting paid back.
And they said you got to consult with Department of Justice energy decided they weren't gonna do that and that was the time to.
Did a memo was also produced by Department of Energy saying that there justifying their reason for ignoring the law.
So it's pretty clear that -- what it came to us is that.
Somewhere along the line.
The things are supposed to be in place to protect the taxpayers were tossed aside and the effort became more -- how to protect the investors.
And that's you know with so problematic and troubling about this whole thing in fact -- became pretty heated.
Congressman mortgage Griffiths -- -- -- -- -- in talking about this very issue that we're discussing right now who gets paid first here's the congressman.
When I first read this memo several weeks ago I make comment on it then that look like a law school project I even -- my staff and asked them.
If they could find out when Susan Richardson was admitted to the -- as I believe it must have been only about three months before the memo was written it turns out she was admitted 1983 but that was a surprise me because the quality of work.
Actually it's gonna happen here I mean you know it's a -- like these.
Committee hearings are are good theater it's great for you guys in your political careers but nothing's happening to help the tax Payer what is the next hour and.
Well this was important because we had to get on the record.
This very very important step the department of treasury says there is the law here we saw there were problems with the law that you could put the taxpayer behind.
We also know have records -- told us.
That and step by steps what was revealed today in the Wall Street Journal that being the new cylinder wasn't gonna make people -- Department of Energy -- -- wasn't gonna make it.
People within a treasury -- and it wasn't gonna make it had quite frankly since -- Linda was burning fifteen million dollars a month the lender knew they -- gonna make it.
So watch what's happening in Department of Energy now.
This would have gone much smoother so Linda if Department of Energy -- give -- records right away it took months asking for them.
We have to subpoena them it's still -- -- a long time to get these things review it.
Which only adds to our concern is what is Department of Energy hiding who made these decisions to put the taxpayers off to the side.
Do you -- investors instead do you feel like you're any closer to the answer to that last question because that's what's meant mesmerizing me.
To decide to put the taxpayer at the back of -- line.
-- -- It it's it's it's going up the chain of command with the department of energy and that that dot serve our.
Beginning to form here there was someone higher -- and made some decisions.
What happened here is this was supposed to be program checks and balances -- department of Justice Department treasury and Department of Energy.
All by law were supposed to follow the rules.
And it broke away from that loan program and became more for an earmark program.
We're waiting to -- -- exactly who that is and that's -- report for these memos but someone I think you're clearly broke the law.
Well I've were actually gonna have to wait and see I guess that's why I'm so frustrated because I wanted to know the answer the questions and I wanna see justice done and taxpayers made whole.
The latter of those may never happen another issue with cylinder that we've been following is the very close ties between the Obama administration and the company itself.
We recently had an email from David -- He was that as a -- direct investor and Obama advisor here's what He had to say.
-- lender must still raise over 200 million in matching private equity according to the terms of the loan -- guarantee program.
In the current economic environment they -- use all the positive publicity they can get.
You know I feel like it's taxpayers were really being kind here.
-- if this isn't this was a program all about making friends of Obama happy.
Funding his private pet projects.
I don't see that arms linked kind of relationship that I'm used to seeing in business.
Sure well they about a ministries and also said they weren't gonna hire anybody who -- a lobbyist.
-- appear to have taken under the wing a lot of people who were investors are gonna make some money on these things and yes it is posted an -- Lincoln and even Larry Summers when He was contacted.
By one of these investors who said I don't think so -- should Begin to Sloane Larry Summers responded that the federal government is a crappy venture capitalists.
He knew this was not a good idea to everybody seemed to do it.
And that's why a congress has put a freeze and earmarks itself saying you cannot have a system where some could just give us out.
With even this tiniest bit of link with some other campaign -- money transferring back and forth and lots of things are indicating that this turned into an earmark program.
I think you you read it exactly right and it's not just cylinder a company called SunPower.
Got one point two billion dollars in loan guarantees just before they got those guarantees.
They announce they're gonna miss earning estimates they have a ton of -- on the books this is not.
Company in good shape and yet we're giving it.
Millions and millions and millions of dollars had to get a chance to look at some power.
It will SunPower also we understand is also gonna be manufacturing.
They're solar panels and Mexico.
You know we put clauses into the stimulus bill to make sure that things were done in the United States and I I person try to have some amendments and to protect taxpayers -- that.
Those who dismiss at that time by the house rules -- What I'm doing this program in the first place was -- to employ Americans not.
People in other countries and in the last I look Americans don't necessarily drive across the border for jobs.
Sure it was supposed to protect American taxpayers create jobs American instead.
Appears to be protected people who -- put money into this that's not what the government is supposed to be doing that is just wrong.
And I think by any standard even a person without any long back and be able to say that these laws were broken along the way.
Well congressmen -- they pay the price for this the thing.
Well -- certainly somewhere along the line and one of the questions that energy commerce going to be dealing with this if this contract was based upon breaking the law.
It's not a legal contract and if that's the case.
Then do we then S Department of Justice they review this -- determine if it's not a legal contract.
In the got somebody to go back to bankruptcy court and step in for the taxpayers and say that was you can't do that we want to have the taxpayer backing them and keep position.
But before we get to that point we've got to be asking Department of Energy about this and that's why we're SP -- should come before some a couple weeks and -- critical question relish.
Some fireworks there congressman Murphy thanks for your help tonight we really appreciate it.
Keep on fighting -- in atop this they have -- think to see I don't can't ignore it that's for sure.
And a programming note for you next Wednesday we're taking the -- report on the road again this time we had to the windy city Chicago.
For a look at what makes that Citi sick and how the rest of the country is impacted by what goes on there again Wednesday night featured doing.
