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A group -- GOP congressmen want the Justice Department to take start taking on so lender taxpayers eventually lost half a billion dollars when private investors were put ahead of the line of the solar companies creditors.
And stays Phillies up.
Says that's illegal he joins us now congressman good to see -- so.
You know this is something that is so simple it's almost stupidly simple that.
If you break the law you're doing something illegal I think that is at absolutely is common sense as anything ever -- but you have to spell it out.
What does the government say because the laws clear somebody broke the law yet they're saying it's not illegal.
-- you know David we've got people in the White House that still don't want.
To put the transparency out there let the public know exactly what happened with the Solyndra scandal so we're gonna keep pressing.
In our committee we subpoenaed the White House for documents we've gotten a very small amount.
Of the information we've asked for but at the same time one thing we do know is that when the administration decided to subordinate the taxpayer.
But they broke the law and in fact there were some people over the Treasury Department and that's all the Energy Department they thought they were breaking the law so what we're saying is -- Attorney general holder you're the only one.
Who on behalf of this administration who can actually -- and enforce the law in in your your own administration broke the law but frankly if you don't stop this from happening.
That's 75 million dollars of taxpayer money will be completely lost because that's how much.
Was put in the back of the line when the government said that the taxpayers don't come first that's what we're really the most upset with right now on this on this -- right.
Let me just read the law this is from the energy policy act of 2005.
It says and I'm quoting here.
The obligation meaning the debt is not subordinate to other financings Perry.
At it made that very clear -- I can't imagine anything that clear.
And Gary Berger who is the the chief financial officer of the federal financing -- said.
That he is never seen a loan restructuring which subordinated the taxpayer to private investors.
So it's never happened before it's a clear violation of law and somebody said it had to be got who was that person who said it had to be done.
Well David ultimately though the buck stops at the White House and President Obama is responsible for this but his energy secretary secretary choose the one noticeable -- sign that subordination.
We had him -- committee and I pressed him on this issue in onset who told you could subordinate because a loss clear that you can't.
And so what they did was they went and got some of legal counsel opinions that that ultimately said that they can do it anyway.
You know and they literally got back to the definition of the word is if you can believe that -- -- -- to try to justify why they can put the tax for at the back of the line.
The bottom line is.
They should have been finding out present Obama should be trying to figure out how to put the tax -- in the front of the line instead he put the taxpayer in back of the line.
And that costs 75 million of this whole 535.
Million dollars that they blew.
Let let us strive for the moment -- -- -- last -- but to connect some dots here we know that George Kaiser and other contributors to Obama met with Obama.
At least a dozen times probably more at the White House probably said something about Solyndra I mean is my guess that he would have sits on vessel -- since he contributed so much.
Is it possible that George Kaiser speaking to the present the president been speaking to secretary.
That this secretary.
Eventually got the mess it's true that the private investors would get paid off before taxpayers.
We you know David that's one of the questions we've been trying to find out it begs the question what is the White House have the hide why are they not complying.
With the subpoena and they won't give us those emails we're gonna keep fighting to get them but in the meantime.
The taxpayers out they're demanding answers -- the deserve the truth because 75 million dollars was jeopardized just by the subordination alone.
And at the end of the day 535.
Million dollars -- taxpayer money was blown.
But this deal of -- this is crony capitalism at its worst where the president.
Was trying to help -- political friends when everybody even around the Department of Energy was in this is a bad bad for the taxpayer that's what it appears to be congressman Steve Scully stood to -- congressman thank.
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