"Green" Crony Capitalism

#1
volinbham

volinbham

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#1
Interesting read from ABC on how Solyndra got the sweetheart deal that no other green energy companies got. One the big investors in the company was an Obama campaign bundler and under the terms of the bankruptcy will get his investment back; likely at the expense of the U.S. taxpayer.

Hooray for green jobs!

Solyndra Got Lowest Interest Rate - ABC News

A politically connected solar company that pocketed a half billion dollar government loan, only to shut its doors, fire workers and file for bankruptcy, benefited from a series of breaks in securing the federal funds -- including an interest rate lower than other green energy projects, iWatch News and ABC News found.
The $535 million loan to Solyndra Inc., issued by the U.S. Department of Treasury's Federal Financing Bank, included a quarterly interest rate of 1.025 percent, the government bank reported in July. Of 18 Energy Department loans cited in the bank's report, Solyndra's rate was lowest. Eight other Energy Department projects, each also backed by the Federal Financing Bank, came with rates three or four times higher, the report shows.
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But records show the advantageous terms came in spite of red flags about the risks of investing in Solyndra. In 2008, as the loan agreement was moving forward, an outside rating agency gave the deal with a B+ grade, a less than optimum score, according to records obtained by iWatch and ABC under the Freedom of Information Act. That same year, the records show, Dun & Bradstreet assigned the company's credit appraisal as "fair."
Analysts say there were warning signs about the deal from the start, when Obama's Department of Energy pitched its first energy loan guarantee as a symbol of the expanding green tech movement. Yet the administration repeatedly took steps that would seem to benefit Solyndra: the Department of Energy announced its loan commitment before all due diligence was completed -- later raising concerns from auditors; the president made a personal visit to tout the company's prospects; and the department agreed to grant Solyndra fast-track approval.
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#3
#3
Gibson guitars, Boeing, Solyndra, etc.

And people wonder why companies are hoarding cash in this atmosphere
 
#5
#5
Can't wait for the commercials against Obama on this. Going to be classic
 
#6
#6
The "Green Industry" is BHO's "Big Oil", too bad the media will not jump all over him about it as they did you know who.
 
#7
#7
Solyndra | White House Visits | Bankruptcy | The Daily Caller

company representatives also made numerous visits to the White House to meet with administration officials, The Daily Caller has learned.

According to White House visitor logs, between March 12, 2009, and April 14, 2011, Solyndra officials and investors made no fewer than 20 trips to the West Wing. In the week before the administration awarded Solyndra with the first-ever alternative energy loan guarantee on March 20, four separate visits were logged.

George Kaiser, who has in the past been labeled a major Solyndra investor as well as a Obama donor, made three visits to the White House on March 12, 2009, and one on March 13. Kaiser has denied any direct involvement in the Solyndra deal and through a statement from his foundation said he “did not participate in any discussions with the U.S. government regarding the loan.”

But the countless meetings at the White House seem hardly coincidental. Kaiser, in fact, is responsible for 16 of the 20 meetings that showed up on the White House logs.

In the meetings on March 12, Kaiser met with former Chairman of the Council of Economic Advisors Austan Goolsbee at 11 a.m., Senior Advisor Pete Rouse at 3 p.m., and Deputy Director of the Domestic Policy Council Heather Higginbottom at 6:30 p.m. On the 13th, Kaiser met with Deputy Director of the National Economic Council Jason Furman at 9 a.m.

Other Solyndra officials that made the trek over to the White House include Chairman and Founder Christian Gronet on September 22, 2009, at 9:30 a.m.; and Board Members Thomas Baruch and David Prend.
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Not good for the POTUS
 
#8
#8
T-TownVol said:
The "Green Industry" is BHO's "Big Oil", too bad the media will not jump all over him about it as they did you know who.
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Its easier to glamorize the big oil "cronyism" when they have multi-billion dollar profit quarters and the average consumer is spending $3.50 at the pump.

...It doesn't make it right, but it is what it is.
 
#9
#9
rjd970 said:
Its easier to glamorize the big oil "cronyism" when they have multi-billion dollar profit quarters and the average consumer is spending $3.50 at the pump.

...It doesn't make it right, but it is what it is.
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Yeah, private companys and individual discretionary funds are MUCH more important than tax dollars.
 
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#12
#12
The real travesty is that we needed to 'go green' in the first place, all based on an Orwelian style propaganda
drive.

Admitedly we would do well to become more energy
efficient and produce less polution but to do so in such
a radical manner defies the imagination unless one is
completely brainwashed, which can be understandable
given the level of propaganda one encounters.

When Gorbechev spoke at the communist party meeting
back when the USSR broke up (not so much a blow to
communism as one might think since the breakup gave
them many more votes in the UN, itself a socialist org
from the beginning, it's charter was written by
communists,) he said not to fear that socialism was
dead, they would defeat capitalism through the device
of ecology.

Most people think in terms of capitalism vs socialism
but in reality socialism is nothing more than crony
capitalism, if not then why do those with practically
unlimited resourses support socialism??

This administration is easily the most corrupt in
America history, they make the Tammany Hall bunch
look like kindergarteners.

binocularscopy.jpg







vols4sure said:
Gibson guitars, Boeing, Solyndra, etc.

And people wonder why companies are hoarding cash in this atmosphere
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obama-gibson.jpg
 
#13
#13
What's so radical about sudden awareness and a desire to adapt to change?

Take one green company that does this and run, while big oil has been doing it since the start.
Posted via VolNation Mobile
 
#14
#14
VOLatile said:
What's so radical about sudden awareness and a desire to adapt to change?

Take one green company that does this and run, while big oil has been doing it since the start.
Posted via VolNation Mobile
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was this intended to make sense?
 
#17
#17
VOLatile said:
Exactly. I'm on all sorts of cold medicine today. Sorry. Makes sense to me, that's all that matters.
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Ditto here. This "end of the summer" cold going around is brutal. I have been suffering for over a week now. I may actually break down and go to the doctor for the first time in almost two year. I've had enough of this already.
 
#18
#18
Vitamin C guys. Felt a cold coming on yesterday and I've been overdosing all day. Seems to be helping.
 
#25
#25
BigPapaVol

was this intended to make sense?
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Made sense in Germany in the 1930s.

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hitler-1.jpg


obama-angry.jpg
orange-Hitler11cx.jpg


Gemeinnutzgeht vor Eigennutz. (The common good
supersedes the private good.) ~ Nazi slogan Prologue
Fanatical environmentalism, vegetarianism, animal
rights and public health are four progressive
policy initiatives that most people would not readily
associate with Hitler and the Nazis. "Unlike Marxism,
which declared much of culture and humanity irrelevant
to the revolution, National Socialism was holistic," wrote
Jonah Goldberg. Indeed, "organic" and "holistic" were the
Nazi terms of art for totalitarianism.

Heard any Chavez speeches on environmentalism lately?






VOLatile

What's so radical about sudden awareness and a desire
to adapt to change?

Take one green company that does this and run, while
big oil has been doing it since the start.
Click to expand...

Theres such a huge nonsequitur in your thinking that
I believe you you may have an unbridgeable chasm
between your left brain, right brain nervous system.

sherffius21.jpg





VOLatile

Exactly. I'm on all sorts of cold medicine today.
Sorry. Makes sense to me, that's all that matters.
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Isn't that the prime ingredient in meth??

That's probably exactly what Obama thinks.

payne.jpg


You didn't stipulate whether your sudafed had been
reprocessed or not, it appears it has at first glance.




T-TownVol

The "Green Industry" is BHO's "Big Oil", too bad the
media will not jump all over him about it as they did
you know who.
Click to expand...

wnvto.jpg


Scene II, Act I:

Just down the road they are about to repeat this
fiasco but instead of $500m, $850m of our tax dollars,
(oh wait, our grandchildren's dollars)(if we still even
have dolars instead of a world currency administered
by BIS) into the project, knowing full well that solar
power costs 80% more to produce than coal fired
energy.

But hey, stuff like that will keep California voting
Dhimmirat for a few more election cycles.




utvolpj

why am I not surprised anymore?

kiss of death
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kissodeath.jpg
 
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