Vicious and Idiotic

The problem with Solyndra was the corrupt manner in which it received taxpayer financing.
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Obama Campaign Backers and Bundlers Rewarded With Green Grants and Loans.

… In the government-backed-loan program, for example, $16.4 billion of the $20.5 billion in loans granted as of Sept. 15 went to companies either run by or primarily owned by Obama financial backers—individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party….

One might think that the Department of Energy’s Loan Program Office, which has doled out billions in taxpayer-guaranteed loans, would be directed by a dedicated scientist or engineer. Or perhaps a civil servant with considerable financial knowledge. Instead, the department’s loan and grant programs are run by partisans who were responsible for raising money during the Obama campaign from the same people who later came to seek government loans and grants.

The Government Accountability Office has been highly critical of the way guaranteed loans and grants were doled out by the Department of Energy, complaining that the process appears “arbitrary” and lacks transparency. In March 2011, for example, the GAO examined the first 18 loans that were approved and found that none were properly documented. It also noted that officials “did not always record the results of analysis” of these applications. A loan program for electric cars, for example, “lacks performance measures.” No notes were kept during the review process, so it is difficult to determine how loan decisions were made. The GAO further declared that the Department of Energy “had treated applicants inconsistently in the application review process, favoring some applicants and disadvantaging others.

Full article at link below.

http://www.thedailybeast.com/newswe...ative-energy-programs-became-green-graft.html

 

Vicious and idiotic? Here is a glimpse of future progressives in this country, auctioning off their offspring for suicide missions:

<iframe width="420" height="315" src="http://www.youtube.com/embed/DuGhi-WlBEU" frameborder="0" allowfullscreen></iframe>

Free Thinker, what gives?

 

That would have been a great place for a drone strike!

 

This comparison is way off. Bain took PRIVATE investor money and bought into companies to turn a profit.. the Obama admin took OUR money (unwilling participants included) and blew it on a pipe dream. If Bain failed their investors alone would take the loss. When Solyndra failed we all lost. IMO the federal govt doesn't belong funding any private organizations at all.. not for bailouts, not for fair lending in the mortgage market, and not for whatever is deemed an "investment" by whatever admin, etc.

And what does obama know about investing anyway? If I was a billionaire, I wouldn't put a cent into a place like Solyndra cause I don't see the upside. 'Green energy' is not capable of providing for the country's electrical needs at present. On the other hand, nuclear power is more than capable, increasingly safe, and uranium is relatively abundant.

That money, if it was going to be spent anyway, would have been better put to use building a nuclear plant.

 

I was referring to the principle of the matter. Solyndra was a bad bet, but government also makes good bets.

 

We don't pay taxes for the govt to make 'bets'. With all of the financial reform bs, and the most current example of them railing on JPM for losing money.. you think its ok for them to blow opm on Solyndra.. please tell me you see the hypocrisy here?

the only thing they should be spending our money on is what the private sector cannot provide, or their Constitutional obligations, like defense.

 

Actually, we do and always have.

 

Please list your examples. Also you do see the hypocrisy of the govt ranting about risk etc and then speculating themselves.. don't you?

 

..and, um, delivering mail?

 

Solyndra was neither a good bet nor a bad bet -- it was a corrupt bet. I don't expect government to always be right, but I do expect them to be honest.

Solyndra was outright theft of taxpayer dollars not because it failed, but because Solyndra's financing was obtained as an election payoff to Obama's friends.

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Obama Campaign Backers and Bundlers Rewarded With Green Grants and Loans.


… In the government-backed-loan program, for example, $16.4 billion of the $20.5 billion in loans granted as of Sept. 15 went to companies either run by or primarily owned by Obama financial backers—individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party….

One might think that the Department of Energy’s Loan Program Office, which has doled out billions in taxpayer-guaranteed loans, would be directed by a dedicated scientist or engineer. Or perhaps a civil servant with considerable financial knowledge. Instead, the department’s loan and grant programs are run by partisans who were responsible for raising money during the Obama campaign from the same people who later came to seek government loans and grants.

The Government Accountability Office has been highly critical of the way guaranteed loans and grants were doled out by the Department of Energy, complaining that the process appears “arbitrary” and lacks transparency. In March 2011, for example, the GAO examined the first 18 loans that were approved and found that none were properly documented. It also noted that officials “did not always record the results of analysis” of these applications. A loan program for electric cars, for example, “lacks performance measures.” No notes were kept during the review process, so it is difficult to determine how loan decisions were made. The GAO further declared that the Department of Energy “had treated applicants inconsistently in the application review process, favoring some applicants and disadvantaging others.


Full article at link below.

http://www.thedailybeast.com/newswe...ative-energy-programs-became-green-graft.html