As one of a series of ten stories on the use and abuse of executive power by the Obama Administration, the Washington Examiner this week revisited the illegal subordination of federally guaranteed loans made to Solyndra, a modification to the loan agreement that benefited Argonaut Private Equity, owned by Obama...
Posted by Michael Bates on September 21, 2013 7:32 PM
Interesting story from Reuters earlier this week: The IRS has filed an objection to the bankruptcy plan of Solyndra, the failed solar panel manufacturer that had been backed by Federal loan guarantees and the investment arm of the George Kaiser Family Foundation: Solyndra's bankruptcy plan could prove a further embarrassment...
Posted by Michael Bates on October 13, 2012 9:58 PM
Last week the Sunlight Foundation Reporting Group published a detailed history of George Kaiser's fortune, a fortune built with care to avoid paying taxes, according to the story's author, Bill Allison. Allison co-authored The Cheating of America, a 2001 book on "wealthy individuals and powerful corporations avoid taxes." The article...
Posted by Michael Bates on October 17, 2011 12:03 AM
In today's Wall Street Journal's William McGurn explores Tulsa billionaire George Kaiser's motivations in his involvement in Solyndra. Some excerpts: The George Kaiser Family Foundation in Tulsa, Okla., was the company's largest shareholder. The family foundation has attracted attention because it is set up as a "supporting organization" for the...
Posted by Michael Bates on October 4, 2011 12:38 PM
This is long, but worth reading, particularly if you're knowledgeable about the financial aspects of bankruptcy. There are some interesting twists and turns that seem to suggest that GKFF's investments have been protected to the detriment of federal taxpayers. If that's so, I'm torn: It's better for Tulsa if GKFF...
Posted by Michael Bates on September 16, 2011 12:15 AM
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