RUSH: The Solyndra guys, folks -- the Solyndra CEO and CFO -- are to testify before Congress Friday (actually they were to testify before Congress last week), but the Republicans, in an effort to show that they are nice people -- the Republicans in the House, in an effort to show that they are not extremist, racist, sexist, bigot, and homophobes -- gave the Solyndra guys an extra week to prepare their testimony. The Solyndra guys announced yesterday that they will be claiming their Fifth Amendment privilege. They will answer no questions. It has taken them a week to come up with this strategery after the Republicans bent over backwards and forwards to show that they're not a bunch of meanies, gave them extra time.
We also learned today that the law firm representing the Solyndra guys has a bunch of partners who were official bundlers for Obama, meaning they raised a lot of money. They find a bunch of donors and pooled their donations into the bundle and bundlers are held in very high self-esteem in any campaign. They bring in a lot of money and a lot of donors. So the lawyers for the Solyndra guys... These are the guys, folks, they were given, for all intents and purposes, $523 million, half a billion dollars -- and it's gone, and number knows where. I keep saying, $523 million? Somebody wants to give me that, how in the world could my business lose money? How could my business go bankrupt? Remember, this is a startup. How could my business go bankrupt if somebody gives me 523 billion?
Here's what I want to know: So we have the Solyndra guys and a fraud. There's no business there. There's no solar panel business. There's no profitable business there, okay? Fine, dandy. So these guys are all donors, supporters of Obama -- and I tell, these scandals are starting to mount, and the Heritage Foundation has put together a very good list of all these investigations and potential scandals. It's a long list and would make Nixon jealous. So you got the Solyndra guys taking the Fifth. Their laws are bundlers for Obama, Obama's Department of Energy arranges for these guys to get $523 million; it's gone, the company's bankrupt. How much of that $523 million there are ended up back in Obama's campaign war chest? That's what I'd like to know.
"Solyndra LLC's chief executive and chief financial officer will invoke their Fifth Amendment rights and decline to answer any questions put to them at a Congressional hearing on Friday, according to letters from their attorneys obtained by Reuters." So this is the thanks the House Republicans get for giving these execs extra time to get their stories straight. They were originally scheduled to appear before the House committee on Monday. Now, as a thought experiment try to imagine if Solyndra were a Republican contributing firm that had squandered a half billion dollars in tax dollars, we would hear a steady drumbeat from the news media and the rest of the Democrat Party about the public's right to know.
In fact, I think I'm right about this. I think when Enron execs took the fifth, the media were livid. They started polling it, public opinion polls on the Enron people pleading the Fifth Amendment. We'd be hearing, "The public's right to know, how dare these people get away with taking the Fifth Amendment," if it were a group of people that had donated to Republicans. "In the letters sent to the House Energy and Commerce Committee's Subcommittee on Oversight and Investigations, attorneys for Solyndra CEO Brian Harrison and CFO W. G. Stover said they advised their clients not to provide testimony during the hearings. ... Harrison is represented by Orrick, Herrington & Sutcliffe and Stover is represented by Keker & Van Nest. Solyndra's offices were raided by the FBI two days after the company filed for bankruptcy, although the FBI did not say what prompted the raid."
Now, The Daily Caller has a little update to this. "The law firms representing two prominent Solyndra executives are major Democratic Party donors. The law firms representing the executives are Orrick, Harrington and Sutcliffe, and Keker and Van Nest. Both are major contributors to Democrats and both have handsomely helped President Barack Obama’s political efforts, according to information retrieved from Center for Responsive Politics databanks. Employees at Orrick, Harrington and Sutcliffe, which is representing Harrison, have donated more than $1.3 million to federal campaigns, political parties and Political Action Committees since 1990. More than 95 percent of those donations went to Democrats, including $184,000 to Obama."
Now, put this in perspective. One-point-three million has been given to Democrats since 1990. So 21 years. A hundred and eighty four thousand of it went to Obama. "Steven Newmark, a litigation managing associate for the firm, has bundled between $50,000 and $100,000 for Obama’s ongoing bid for re-election. Keker and Van Nest employees, on the other hand, have donated $527,301 in national-level political donations since 1990, 99 percent of which have gone to Democrats. Keker and Van Nest is representing Stover." Astonishing, is it not? Astonishing, my friends.
RUSH: "Bill Clinton scorches the Republican presidential field on climate change, says that the Republican presidential field is making our country look like a worldwide joke."
Story #3: Algore Leaks New Apple iPhone Release Date
RUSH: Former vice president Algore is a board member at Apple, Incorporated -- and maybe not for long. He was at a conference, The Discovery Invest Leadership Summit. I don't know where it is, but somebody, the editor of Stuff magazine in South Africa was attending the conference. The way this is written it's like it was in South Africa. Doesn't matter. Algore was quoted as saying at the leadership summit, "Not to mention a new iPhone's coming out next month. Yes, that was a plug." Now, Apple hasn't said a word about new iPhones. There's a tech blogger at the Wall Street Journal who today said that Apple's gonna have an event on October 4th announcing the new iPhones and whatever else is in the pipeline, but Apple has yet to say a word. As far as we know, there isn't anything new coming. It's all just rumors, except now it's not. Now an Apple board member has gone out and blown the whistle on the whole thing. This is not gonna sit well. This a very, very secretive bunch of people.
Story #4: Bernanke Gooses Stock Market for Obama Reelect
RUSH: I'm gonna have to explain this in detail tomorrow. The Federal Reserve has done it. It's essentially QE3. They're not printing money, but they are going to increase their share of longer-term Treasuries by $400 billion by June of next year. The objective here is to make credit cheaper. They're trying to lower interest rates even more, including on mortgages. This is not gonna work. This is another attempt at stimulus, folks, and it's related to Obama's reelection, there's no question that that's what this is all about. They're basically gonna buy securities again. They're gonna jack up and goose the stock market, but they are going to do so with longer term Treasuries, in some cases with payouts over 50 years instead of six and ten. Anyway, I'll give you the details in much great detail tomorrow when I've got more time to do it.
We will, in the meantime, be revved up and ready to go tomorrow, we get back with a full in-depth explanation of what the Fed is doing with... I'm gonna call it QE3. I don't know if anybody else will go that far yet but we'll find out soon enough but it's a boost of the stock market, a boost of Wall Street, campaign donations to Obama no doubt, and an attempt to lower credit even further because this bunch believes if they could just get people to start borrowing money, the economy will revive. They totally miss that that's not the point right now.
The Republicans begged Bernanke not to do this at the Federal Reserve. They're gonna do it. They're not printing new money to put into the market. They are shifting money into riskier investments, basically, and trying to bring down interest rates even further. More on it tomorrow.