News Alert: Advisers warned White House not to let Obama visit failing solar company

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October 3, 2011 1:40:10 PM
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Newly released documents show that a Silicon Valley investor and senior administration officials warned the White House against having President Obama visit the solar company Solyndra in May 2010 because of its mounting financial problems, saying he might be embarrassed later.

Obama’s Energy Department had provided Solyndra with a $535 million government-backed loan and wanted to highlight the investment to show taxpayers how their stimulus dollars had been put to work. Top administration officials concluded that while a visit posed political risk, it was appropriate. Obama ultimately appeared at the factory and praised the company, which collapsed in late August and is now under federal investigation.

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