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Sunday, September 18, 2011

Andy McCarthy: Obama Committed Fraud With Solyndra

In reviewing previous fraud cases such as Martha Stewart's statements several years ago, Andy McCarthy says that in the case of Solyndra, Obama's actions and statements were much, much worse. Not only did he create a rosy scenario for the company two months after its auditors gave it a "going concern" opinion, he did something much worse. When it was apparent that the company was headed for bankruptcy, he decided to restructure the loan so that taxpayers would no longer be first in line to collect money on the remaining assets. This, despite clear objections from his own agencies.

It's hard to argue against the fact that this was a fraud - which, if committed by a private company CEO, would probably find himself behind bars.