Solyndragate heats up as execs break promise to testify

Controversy is heating up over the Solyndra case as company executives inform  a key congressional committee that they plan to plead the fifth at a hearing on Friday.

WASHINGTON, D.C. (Catholic Online) - Claiming they are merely acting on the advice of their legal counsel, Solyndra executives have told members of the House Energy and Commerce Committee that they will not be able to provide, "substantive answers" to questions in light of the Justice Department probe into their company's practices. 

The company said in a statement, "Present circumstances require both gentlemen to exercise their Fifth Amendment rights in the face of questioning that might occur."

Committee leaders aren't buying that and are criticizing company executives for breaking an earlier promise they would, in fact testify. A committee aide reportedly told the media on September 10, that Solyndra executives had promised to testify. 

Republican leaders are concerned that Solyndra is trying to cover up something substantial. That something may be closely related to the White House.

Solyndra came under intense scrutiny after declaring bankruptcy because the company received $530 million in taxpayer-backed loans. Those loans were reportedly rushed because the project was a favorite of the White House. If true, the it would serve as evidence of corruption.

Still the company insists that they are, "not aware of any wrongdoing by Solyndra officers, directors or employees in conjunction with the DOE (Department of Energy) loan guarantee or otherwise."

Legal counsel for Solyndra is saying that "Nothing of substance should be read into Mr. Stover's decision to heed his counsel's advice." Stover is the Chief Financial Officer of Solyndra.

The committee leadership said they were, "disappointed." They said, "It's disappointing that the officials who canvassed the halls of Congress in mid-July and misled our members about the financial state of their company are now unwilling to answer direct questions, but any effort to cover up the truth will ultimately not succeed."

Pressure to find answers is growing. Representative Darrell Issa, (R-CA) chairman of the House Oversight and Government Reform Committee said that the panel will start reviewing government loan programs that benefit private companies, as a result of this scandal. Others, like Representative Lamar Smith, (R-TX) who is chairman of the House Judiciary Committee, are calling for a special prosecutor to review the case and investigate. 

Solyndra doesn't just have Congress to worry about. Earlier this month, the FBI raided their corporate headquarters along with representatives from the Treasury and Energy Departments. 

The White House is also facing scrutiny. In 2009, representatives of the Obama administrations sent a series of emails to the Office of Management and Budget asking if the OBM had made a decision on the $530 million loan to the company. Emails shared with the media show OBM officials complaining that they were feeling pressured by the White House to come up with a decision and that they weren't being given enough time to properly  assess the risk of loaning the money to Solyndra . 

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The White House contends they merely wanted a decision as early as possible so they could schedule an appearance for Vice President Joe Biden at the company's groundbreaking ceremony. Biden eventually did appear by satellite feed, where he announced the loan as part of a broader stimulus package. 

For now, Congress is demanding answers, but it does not appear they will have them this week.

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