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WELCOME BACK, EVERYONE.
UNPRECEDENTED SUBPOENAS FOR THE
WHITE HOUSE.
THE HOUSE COMMITTEE
INVESTIGATING SOLYNDRA,
APPROVING AN UNPRECEDENTED MOVE
SAYING THAT THEY'VE BEEN UNABLE
TO GET TO THE BOTTOM OF HOW THE
FAILING SOLAR PANEL MAKER GOT
HALF A BILLION DOLLAR IN LOANS
FROM TAXPAYERS.
THE COMPANY'S GONE BELLY UP.
HOUSE ENERGY AND COMMERCE
COMMITTEE, HE IS CHAIRMAN OF THE
COMMITTEE INVESTIGATING
SOLYNDRA, CLIFF STERNS.
WELCOME TO "AMERICA'S NEWSROOM".
>> THANK YOU, BILL.
BILL: YOU ARE CLEARLY NOT
SATISFIED.
WHAT DO YOU WANT TO KNOW?
>> WELL, THE SUBPOENAS WERE
ISSUED YESTERDAY.
THEY WERE SERVED YESTERDAY BOTH
TO THE VICE PRESIDENT'S OFFICE
AS WELL AS THE PRESIDENT'S
OFFICE.
AND THERE'S FOUR THINGS THAT
WE'RE LOOKING AT.
INCIDENTALLY, THESE SUBPOENAS
HAVE TO BE COMPLIED WITH BY
NOVEMBER 10TH.
FIRST OF ALL, WE'D LIKE ALL
COMMUNICATIONS BETWEEN THE
INVESTORS IN SOLYNDRA AND THE
WHITE HOUSE.
SECONDLY, WE'D LIKE TO KNOW THE
FINANCIAL CONDITIONS,
COMMUNICATIONS WHEN THEY'RE
TALKING ABOUT THE FINANCIAL
CONDITION OF SOLYNDRA AND THEN,
THIRDLY, WE'D LIKE TO KNOW ABOUT
THE SUBORDINATION, ANY
COMMUNICATION DEALING WITH THE
RESTRUCTURING OF THIS LOAN.
AND FOURTH, WE'D LIKE TO HAVE
ANYTHING THAT'S INVOLVED WITH
SOLYNDRA IN TERMS OF LATER,
SHALL WE SAY, AS THEY NEARED
BANKRUPTCY WHAT WAS THE CONCERN
OF THE ADMINISTRATION, WHAT WAS
THE COMMUNICATION.
SO THOSE ARE THE FOUR BASIC
THINGS WE'RE HOPING.
BILL: OKAY.
LET ME TAKE NUMBER THREE THAT
YOU JUST MENTIONED THERE.
THIS IS FROM THE HILL.COM.
THE OBAMA ADMINISTRATION HAD
ALREADY RESTRUCTURED THE
SOLYNDRA LOAN GUARANTEE IN
FEBRUARY AS THE COMPANY FACED
FINANCIAL TROUBLES.
UNDER THAT AGREEMENT PRIVATE
INVESTORS WHO AGREED TO PUT $75
MILLION IN THE COMPANY WOULD BE
REPAID BEFORE THE TAXPAYER IF
THE COMPANY COLLAPSED.
NOW, IS THAT ILLEGAL?
>> BILL, IN MY HUMBLE OPINION,
IT IS BECAUSE THE ENERGY POLICY
ACT IS ONE STATEMENT THAT
CLEARLY SAYS THAT YOU CANNOT DO
THAT.
AND, IN FACT, MY ARGUMENT THAT
IT'S ILLEGAL HAS BEEN BUTTRESSED
BY MR. BURNER WHO WAS A CHIEF
FINANCIAL OFFICER FOR THE
TREASURY UNDER TESTIMONY, UNDER
OATH INDICATED IN HIS 28 YEARS'
EXPERIENCE WORKING AT THE
TREASURY HE HAS NEVER, EVER SEEN
A SUBORDINATION OF TAXPAYERS'
LOANS TO OUTSIDE COMMERCIAL
LOANS LIKE, LIKE DIDN'T OF
ENERGY DID WITH -- DEPARTMENT
OF ENERGY DID WITH --
BILL: SOME WERE REMINDING US
DURING THE AUTO BAILOUTS SOME
PEOPLE GOT PAID BEFORE OTHERS --
>> WELL, THIS IS THE --
BILL: IS THAT A DIFFERENT
CATEGORY?
>> THAT'S THE REVERSE, BILL.
IN THIS CASE WHAT HAPPENED IS
THEY TOOK THE TAXPAYERS' MONEY
AND PREEMPTED PEOPLE, THE
BONDHOLDERS THAT WERE INVOLVED
WITH GENERAL MOTORS AND
CHRYSLER, THEY PUSHED THEM OUT,
AND THEY LOST THEIR MONEY, AND
THEY USED THE TAXPAYER, IN THIS
CASE THE STIMULUS MONEY, FOR
THESE AUTO COMPANIES TO TRUMP
THE PRIVATE SECTOR.
SO IT WAS REVERSE.
SO IT'S SORT OF IRONIC THAT THE
PRESIDENT WOULD GO BACK AND TAKE
PRIVATE OUTSIDE AND TRUMP
TAXPAYERS WHEN TAXPAYERS WERE
TRUMPING THE PRIVATE SECTOR IN
THE AUTOMOTIVE --
BILL: LET ME TAKE YOU BACK TO
SOLYNDRA NOW.
THE WHITE HOUSE SAYS 85,000
PAGES OF DOCUMENTS HAVE ALREADY
BEEN GIVEN TO YOUR COMMITTEE.
AND AFTER THE SUBPOENA WENT OUT
YESTERDAY AFTERNOON, THEY GAVE
20,000 MORE ON THURSDAY
AFTERNOON.
>> WELL, THEY GAVE --
BILL: THE QUESTION IS, IS IT THE
PRESIDENT'S BLACKBERRY THAT
YOU'RE AFTER?
IS THAT WHERE YOU BELIEVE YOU'LL
FIND YOUR ANSWERS?
>> BILL, TO ANSWER YOUR FIRST
QUESTION, THE 20,000 PAGES CAME
LAST FRIDAY BEFORE THE SUBPOENA,
AND THE DOCUMENTS YOU TALK ABOUT
ARE ALL TECHNICAL.
THEY'RE REALLY NOT APPLICABLE TO
SOLYNDRA, SO IT'S REALLY SLOW
WALKING ON THE ADMINISTRATION TO
SAY THEY ARE PERTINENT BECAUSE
THERE'S NOTHING ABOUT SOLYNDRA
EXCEPT FOR MAYBE A VERY FEW
PAGES.
TO ANSWER YOUR QUESTION, AT THIS
POINT THE ADMINISTRATION HAS TO
DECIDE WHETHER THEY'RE GOING TO
USE EXECUTIVE PRIVILEGE OR
COMPLY.
NOW, OF COURSE, THE BLACKBERRY,
ANYTHING INVOLVED WITH HIS
PERSONAL INFORMATION, WITH HIS
FAMILY, ANYTHING THAT WOULD DEAL
WITH NATIONAL SECURITY WE'RE NOT
INTERESTED IN.
BUT COMMUNICATION THAT'S DEALING
WITH THE SUBORDINATION OF
TAXPAYERS' MONEY, DEALING WITH
THE INVESTORS INVOLVED, ANY OF
THAT WE WOULD LIKE TO SEE, AND I