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Solyndra has emerged as a vulnerability for Obama because the company received $535 million in loan guarantees from Obama's Energy Department in 2009 only to go bankrupt two years later, sparking an ongoing investigation. The loan guarantee program, designed to spur alternative energy projects, was created during the Bush administration. Republicans have been assailing Obama on Solyndra for months, partly by pointing to the connection between Obama fundraisers and the company while arguing that the president used government policies to benefit campaign supporters. Steve Spinner, a former Energy Department official, raised at least $500,000 for Obama's campaign. Emails released earlier by congressional investigators show that Spinner was actively involved in the Solyndra loan despite pledging to step aside because his wife's law firm represented the company. One of Solyndra's investors was the foundation of George Kaiser, an Oklahoma billionaire who has supported Obama. Kaiser has said he was not active in helping Solyndra receive the loan. White House records show that Kaiser was a frequent visitor to the White House. He has said he did not discuss Solyndra on those visits, although the company's name did come up at least once during one of those visits. The administration says the loan was awarded on the merits and that extensive GOP efforts have failed to turn up a "smoking gun." The Energy Department's inspector general so far has only criticized the Energy Department for general problems with the loan program. It has not addressed charges of political cronyism. But Romney suggested a political payoff, saying: "Free enterprise to the president means taking money from the taxpayers and giving it freely to his friends." At the Obama campaign's Boston event, Romney backers heckled Axelrod by shouting, "Solyndra, Solyndra." "You can shout down speakers my friends, but it's hard to Etch A Sketch the truth away," Axelrod responded, referring to a comment by a top Romney aide, Eric Fehrnstrom, about Romney shifting gears for the general election campaign. Romney used his trip to Southern California to gain another type of political capital
-- the endorsement of former first lady Nancy Reagan. After hosting Romney and his wife, Ann, at her Los Angeles home on Thursday, the widow of President Ronald Reagan issued a statement saying that "Ronnie" would have joined her in liking Romney's "business background and his strong principles."
[Associated
Press;
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