Emails Show White House Warned About Solyndra

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Emails released by a Congressional panel show White House officials were concerned Solyndra Inc., a failed solar energy company, would hurt the president's chances for re-election in 2012.

"If Solydra defaults down the road, the optics will arguably be worse later than they would be today," an official from the Office of Management and Budget wrote in a Jan. 31 email to a senior OMB official. "

"At that point additional funds have been put at risk, recovery may be lower, and questions will be asked as to why the administration made a bad investment, not just once, but twice (which could easily be portrayed as bad judgment or worse)," the official wrote.

"In addition, the timing will likely coincide with the 2012 campaign season heating up…" the official said.

Dan Gainor, with the Media Research Center, spoke more about how problematic it has been for the government to push for green jobs. Click play to watch.

Solyndra received more than half a billion dollars in federal loans under the 2009 stimulus law. The company later defaulted on the debt and laid off 1,100 workers, leaving taxpayers to foot the bill.      

While the Obama administration assured the public Solyndra was in good shape, emails released Thursday by the House Energy and Commerce Committee show the White House was already worried about the Silicon Valley company failing.

The missives are being examined as part of a House probe into the Obama administration's involvement in the loan.

The investigation has revealed that over the past 24 months at least three reports by federal watchdogs cautioned the Energy Department it wall ill-prepared to manage the multibillion-dollar loan program.

Rep. Cliff Stearns, R-Fla., chair of the House subcommittee, is already calling for a top DOE official to be sacked. 

"The problem is with these scandals no one gets fired and they're all covered up," told the Fox Business Network. "I don't want to see that happen. I think the taxpayers losing half a billion dollars is significant."

*Originally aired on September 16, 2011.

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