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Koch-backed group launching Solyndra ad campaign

By Laurie Bennett

November 2, 2011 at 9:24am

Solyndra, the solar company that went belly up after receiving federal loan guarantees, is now starring in a TV ad campaign attacking President Obama for cronyism.

CNN reports that the conservative group Americans for Prosperity is spending $2.4 million to run 60-second TV ads in five states.

The spot accuses Obama of “risking billions of taxpayer dollars to help his political donors.”

The administration last week appointed Herbert Allison to conduct an investigation of Department of Energy loans, including to Solyndra.

The Solyndra deal has drawn scrutiny not only because of the company’s bankruptcy, but because of potential conflicts of interest. Obama bundler George Kaiser was an investor. Another bundler, Steven Spinner, was a consultant at Energy. His wife is a partner at a law firm that represented the company.

Americans for Prosperity, founded by David Koch, has funded other ads advocating Tea Party positions and criticizing Democratic policy. Last year it paid for a $4.1 million campaign against stimulus spending.

Because it is registered as a 501(c)(4) organization, it does not have to disclose its donors.

FactCheck.org published this backgrounder last month.

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