Solyndra is just the tip.

#2
#2
How right you are fallguy!

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#3
#3
How are these morons in any way qualified to stroke loans for high risk tech companies?
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#4
#4
The worst part of it, both parties are responsible for this crap.

Psst. The GOP was involved in Solyndra, too | The Des Moines Register | DesMoinesRegister.com

excerpts:
"What McConnell neglected to mention is that Solyndra was cleared to participate in this loan-guarantee plan by President George W. Bush’s administration. He also did not mention that legislation creating the loan-guarantee program, passed by the Republican-controlled Congress in 2005, received “yes” votes from Hatch, DeMint and McConnell."

"“Loan guarantees aim to stimulate investment and commercialization of clean energy technologies to reduce our nation’s reliance on foreign sources of energy,” Bush’s energy secretary, Sam Bodman, said in 2007. He added that the Energy Department had narrowed the finalists to 16 — including Solyndra.

The loan-guarantee program for these alternative energy companies, in turn, was created as part of the Energy Policy Act of 2005 — sponsored by Rep. Joe Barton, R-Texas, who has been a leader in the congressional probe of Solyndra’s ties to the Obama administration."

"Complaints were much the same in the Senate, where DeMint said the Solyndra case exposed the “unintended results when our government tries to pick winners and losers.” That’s a valid criticism, but it would be more valid if DeMint hadn’t been a supporter of the loan-guarantee legislation in 2005."


The state we are in is because of major incompetence and cronyism by both parties. I don't see why we think that the people who caused our mess will clean it up.
 
#5
#5
Agree RT - the only (and it's a small) saving grace for the R side is they saw that Solyndra was a dog and moved to block loans to it specifically.

Overall, I'm not a fan of these industry targeted programs. Stick with funding basic research and for God's sake make it easier for industry to access and use the resulting discoveries.
 
#7
#7
BigPapaVol said:
How are these morons in any way qualified to stroke loans for high risk tech companies?
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Click to expand...

This is why gov't should not be involved in the private sector. Politicians picking winners and losers. Who do you think is going to win, well the one's that are buddies with you of course. This goes for both sides. We need to go back to free markets.
 
#8
#8
Crony Capitalism: $737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law | The Weekly Standard

SolarReserve LLC, a closely held renewable energy developer, received a $737 million U.S. Energy Department loan guarantee to build a solar-thermal project in Nevada.

On SolarReserve's website is a list of "investment partners," including the "PCG Clean Energy & Technology Fund (East) LLC." As blogger American Glob quickly discovered, PCG's number two is none other than "Ronald Pelosi, a San Francisco political insider and financial industry polymath who happens to be the brother-in-law of Nancy Pelosi, the Minority Leader of the United States House of Representatives."
Click to expand...
 
#9
#9
Thanks fall guy.

We might as well be living in Nazi Germany or
Stalinist Russia for all the power we have to end
this corruption.

The beat goes on and just gets bigger:

Crony Capitalism: $737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law | The Weekly Standard

Despite the growing Solyndra scandal, yesterday the
Department of Energy approved $1 billion in new loans
to green energy companies -- including a $737 million
loan guarantee to a company known as SolarReserve:
-------------------------

On SolarReserve's website is a list of "investment
partners," including the "PCG Clean Energy & Technology
Fund (East) LLC." As blogger American Glob quickly
discovered, PCG's number two is none other than
"Ronald Pelosi, a San Francisco political insider and
financial industry polymath who happens to be the brother-in-law of Nancy Pelosi, the Minority Leader
of the United States House of Representatives."

But wait... there's more! One of SolarReserve's other
investment partners is Argonaut Private Equity:

Steve Mitchell and Argonaut Private Equity might have
a chance to recoup some of their losses in the Solyndra
debacle now that the Department of Energy has given a
$737 million dollar loan guarantee to a company backed
by Argonaut that also lists Mitchell among its board of
directors.

Mitchell served on the Solyndra LLC Board of Directors.
He also serves as Managing Director for Argonaut Private
Equity, a company that invested in Solyndra through the
LLCs parent company. After Solyndra declared
bankruptcy, two Democratic members of the U.S. House
asked that Mitchell testify about Solyndra. Though he
has not appeared before Congress, he has "been asked
to provide documents to Congress" pertaining to
Solyndra.

And for good measure, it's also noteworthy that Obama
is about to hold a big money fundraiser at the home of
Tom Carnahan in St. Louis:

Carnahan, a member of the prominent Missouri
Democratic family, has been tapped by the Obama
campaign as its chief Missouri fundraiser. He is chairman
of the board of Wind Capital Group, a wind energy
company that makes it corporate headquarters in St.
Louis. He formerly was president and CEO of the
company.

Last year, Wind Capital's Lost Creek Farm facility in
northwest Missouri received a $107 million tax credit
from the Treasury Department, among many such wind
operations receiving support from from stimulus funds.

Tom Carnahan is the son of former Missouri governor
Mel Carnahan and former U.S. senator Jean Carnahan.
He's also the brother of current Missouri secretary of
state, Robin Carnahan.

It's increasingly hard to tell the government's
green jobs subsidies apart from the Democrats'
friends and family rewards program.
Click to expand...

Nepotism, corruption and outright thievery all based
on a pack of lies put out by the corrupter than hell
UN IPCC!

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#11
#11
volinbham said:
Agree RT - the only (and it's a small) saving grace for the R side is they saw that Solyndra was a dog and moved to block loans to it specifically.
Click to expand...


Because they thought they could make political hay of it for linkage to Obama?
 
#12
#12
lawgator1 said:
Because they thought they could make political hay of it for linkage to Obama?
Click to expand...

No, because making the loan after just a modicum of due diligence was absolutely stupid, especially after a market implosion due heavily to poor due diligence.
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#13
#13
BigPapaVol said:
No, because making the loan after just a modicum of due diligence was absolutely stupid, especially after a market implosion due heavily to poor due diligence.
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Click to expand...

The latter being lack of due diligence by ?
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#15
#15
BigPapaVol said:
The freaking people providing the third party stroke to get the deal done.
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Click to expand...


My point, consistent with your other posts, was that in all likelihood whatever third party looked at it and recommended it certainly has links to both Democrats and Republicans.
 
#16
#16
If anything goes wrong, we can count on LG to blame the right. If for some reason he can not escape blaming the left... then the right must also be to blame so its just a "political" thing and not ideological corruption.

This is Obama's baby. Pure and simple. He's the horsepower behind it. Without him, it never exists.


FWIW, I have more confidence that the remaining birthers will prove Obama is not a citizen and get a fair hearing than I do that Obama will EVER be held accountable for the real wrongs he's done.

FTR, it is because I don't trust the GOP either that I want power taken away from Washington.
 
#17
#17
lawgator1 said:
My point, consistent with your other posts, was that in all likelihood whatever third party looked at it and recommended it certainly has links to both Democrats and Republicans.
Click to expand...

There is almost no prayer of this being true in this admin's DOE. OBTW, the red flags were raised and summarily ignored. The folks quelling the pushback were damn sure not conservatives and certainly weren't playing quid pro quo.
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#18
#18
sjt18 said:
If anything goes wrong, we can count on LG to blame the right. If for some reason he can not escape blaming the left... then the right must also be to blame so its just a "political" thing and not ideological corruption.

This is Obama's baby. Pure and simple. He's the horsepower behind it. Without him, it never exists.


FWIW, I have more confidence that the remaining birthers will prove Obama is not a citizen and get a fair hearing than I do that Obama will EVER be held accountable for the real wrongs he's done.

FTR, it is because I don't trust the GOP either that I want power taken away from Washington.
Click to expand...


Have you not read the above posts from folks of your same political bent?

You just hate Obama so much the facts drive you crazy. You are like a three year old with your insane tantrums.
 
#19
#19
One, I don't hate Obama. Two, I don't trust the GOP. Three, it is a FACT that Solyndra never exists unless Barak Obama is President.
 
#20
#20
sjt18 said:
One, I don't hate Obama. Two, I don't trust the GOP. Three, it is a FACT that Solyndra never exists unless Barak Obama is President.
Click to expand...

Three is absolutely true if you're talking about the note origination.
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#24
#24
I have mixed emotions with loan guarantees. I agree that government shouldn't be in the business of picking winners. But then there are projects like nuclear, where it is financially very difficult to pool several billion dollars of investments, particularly where foreign investment is difficult with nuclear technology. And then there's cases such as uranium enrichment, where an American company is having troubles securing a loan (USEC), but a French gov't backed company (AREVA) gets theirs. As I understand it, it's a question of USEC's technology that is holding them back in comparison to Areva. The irony is that USEC's centrifuges are a derivative of a DOE design. But I get that the loan has to be logically placed, but to give a foreign backed company an advantage over an American company, seems un-American.
 
#25
#25
lawgator1 said:
Because they thought they could make political hay of it for linkage to Obama?
Click to expand...

The Bush administration, who oversaw these guarantees at the time, didn't have faith in Solyndra. If they were doing it to pin something on Obama, then they are psychic.
 
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