Failed Solar Company Loan Pushed By White House

[AZGrizFan]

And the hits just keep on coming for the Obama White House.

I had to dig and search the CNN site for the story, but it WAS there...

http://politicalticker.blogs.cnn.com/20 ... =allsearch" onclick="window.open(this.href);return false;

One e-mail from an OMB official referred to “the time pressure we are under to sign-off on Solyndra.” Another complained, “There isn’t time to negotiate.”

“We have ended up with a situation of having to do rushed approvals on a couple of occasions (and we are worried about Solyndra at the end of the week),” one official wrote. That Aug. 31, 2009, message, written by a senior OMB staffer and sent to Terrell P. McSweeny, Biden’s domestic policy adviser, concluded, “We would prefer to have sufficient time to do our due diligence reviews.”

Of course, the White House is in full damage control mode (and full denial mode):

White House officials said Tuesday that no one in the administration tried to influence the OMB decision on the loan. They stressed that the e-mails show only that the administration had a “quite active interest” in the timing of OMB’s decision.“There was interest in when a decision would be made because of its impact on whether an event involving the vice president could be scheduled for a particular date or not, but the loan guarantee decision was merit-based and made by career staffers at DOE,” White House spokesman Eric Schultz said.

Of course the denials ring hollow, given the background of the principals involved in the deal:

Solyndra’s biggest investors were funds operated on behalf of the family foundation of Tulsa billionaire and Obama fundraiser George Kaiser. Although he has been a frequent White House visitor, Kaiser has said he did not use political influence to win approval of the loan.

The White House has previously said that it had no involvement in the Solyndra loan application and that all decisions were made by career officials based on the merits of the company.

Apparently not, and it appears the White House has discovered that banking isn't all that easy when the government gets involved.



Another half a billion dollars, pissed away on a political agenda....and we're on the hook for it.

When are you donks and Obama cocksuckers going to wake up and smell the coffee?

[Cap'n Cat]

More Conk hate missing the mark.

[AZGrizFan]

More Conk hate missing the mark.

More donk blindness ignoring the reality.

[Bronco]

-
Crony capitalism.


Gore-Backed “Green” Car Company Gets $529 Million Taxpayer Loan From Obama Administration…

WASHINGTON — A tiny car company backed by former Vice President Al Gore has just gotten a $529 million U.S. government loan to help build a hybrid sports car in Finland that will sell for about $89,000.
The award this week to California startup Fisker Automotive Inc. follows a $465 million government loan to Tesla Motors Inc., purveyors of a $109,000 British-built electric Roadster. Tesla is a California startup focusing on all-electric vehicles, with a number of celebrity endorsements that is backed by investors that have contributed to Democratic campaigns.
The awards to Fisker and Tesla have prompted concern from companies that have had their bids for loans rejected, and criticism from groups that question why vehicles aimed at the wealthiest customers are getting loans subsidized by taxpayers.

“This is not for average Americans,” said Leslie Paige, a spokeswoman for Citizens Against Government Waste, an anti-tax group in Washington. “This is for people to put something in their driveway that is a conversation piece. It’s status symbol thing.”

DOE officials spent months working with Fisker on its application, touring its Irvine, Calif., and Pontiac, Mich., facilities and test-driving prototypes.
Matt Rogers, who oversees the department’s loan programs as a senior adviser to Energy Secretary Steven Chu, said Fisker was awarded the loan after a “detailed technical review” that concluded the company could eventually deliver a highly fuel-efficient hybrid car to a mass audience. Fisker said most of its DOE loan will be used to finance U.S. production of a $40,000 family sedan that has yet to be designed.

[Cap'n Cat]

More Conk hate for a successful black man.

[LeadBolt]

More Conk hate for a successful black man.

What successful black man is hate directed toward here?

[LeadBolt]

More Conk hate for a successful black man.

What successful black man is hate directed toward here? George Kaiser? Al Gore? Matt Rogers? Steven Chu?

[89Hen]

So two phoney posts by the Cat and that's all the Dems have to say on the subject.

[Bronco]

Obama admin tries to blame Bush for Solyndra
Washington Examiner ^ | 9/14/11 | Philip Klein

As the Congressional hearing on the failed solar energy manufacturer Solyndra gets under way, it's already clear that the Obama administration is prepared to fall back on a tried and tested strategy: blaming Bush. In prepared testimony released ahead of the hearing before the House Energy and Commerce committee, the director of the Department of Energy's loans office, Jonathan Silver, emphasizes that the program that eventually granted a $535 million loan guarantee to the troubled firm was created during the Bush administration.

(Excerpt) Read more at campaign2012.washingtonexaminer.com ...

The Bush admin denied the loan in January of 2009. Four months later Obama approved it.

"In reality, on January 9, 2009 -- at the end of the Bush administration -- the DOE Credit Committee voted against offering a conditional commitment to Solyndra, saying that the deal was premature and questioning its underlying financial support," Stearns said in his opening statement. "Only after Obama took control, and the stimulus passed, was the Solyndra deal pushed through."

Emails link Solyndra to Biden office (by Bob Beauprez)

[Ivytalk]

The press will soon be all over this. ABC's best investigative reporter, Brian Ross, was on O'Reilly tonight to discuss it.

[CID1990]

The reason this has legs is because there's no way to spin it or stonewall. The email chain is there, the loan is there, the indicators that the company was about to be insolvent was there. There is next to nothing to deny here, and it is a simple, plain case that the layman can understand.

Unfortunately for Obama, his folks are still stuck in "Blame Bush" mode and are already pointing out that the loan offer was generated under Bush (but what they don't say is that it was tabled under Bush as well, for the same reasons it should have been tabled under Obama).

If Obama is smart he will admit to the error, downplay it, and move on. If he or his people try to spin it they are going to insult the intelligence of a lot of people they don't want to be insulting right now.

At the end of the day, the focus in the White House and the VP's office was they wanted to trot this loan out in a speech at a certain time, and they hurried the process to that end. The priority was on politics over substance, and they did it with tax dollars.

[D1B]

And the hits just keep on coming for the Obama White House.

I had to dig and search the CNN site for the story, but it WAS there...

Really, Z? You had to dig deep? It's in today's editorial section of USA Today you lying sack of shit. You picked up a copy on your way to Pollo Hermanos, you fat fuck!



From USA Today:

At the same time, context is important. The Obama administration inherited the Solyndra application from the Bush Energy Department, and Solyndra is one of 42 projects in the Energy Department's $30 billion portfolio of clean energy loan guarantees. The department says none of those other projects is in trouble;

You're also a dumbfuck conk who only thinks short term.

Opposing view....

The International Energy Agency projects that solar power will grow steadily, producing nearly a quarter of the world's electricity within four decades. Conservatively, that means more than $3 trillion worth of solar panels will need to be manufactured — a vast economic and employment opportunity to be seized by companies that succeed in this sector.

Our competitors know this, and are playing to win. Winning will require substantial investments. Last year, for example, the China Development Bank offered more than $30 billion in financing to Chinese solar manufacturers, about 20 times more than U.S.-backed loans to solar manufacturers.

Unfortunately, expanding production has coincided with short-term softening demand, a product of the banking crisis in Europe and its wider economic effects. The combination has had a dramatic effect on the price of solar cells, which has plummeted 42% in the past nine months. This has taken a serious toll on solar manufacturers everywhere, including the U.S.

This month, Solyndra , a California-based company, filed for bankruptcy. Solyndra had been named one of the world's 50 most innovative companies and reported sales growth of 40% to $140 million last year. In 2006, the company applied for a federal loan guarantee. It underwent years of rigorous internal and external review before being approved — before the perfect storm of deteriorating market conditions.

Government support has an important role to play in developing new industries and emerging technologies, where private financing is not sufficiently available to support investment at commercial scale.

When it comes to clean energy, we have a choice to make. We can compete in the global marketplace — creating American jobs and selling American products — or we can buy the technologies of tomorrow from abroad.

Historically, our government has supported emerging industries, from transcontinental railroads to aviation to the microchip. These investments strengthened our nation and leveraged the private investments that drove our prosperity. In that spirit, our loan programs are today supporting a diverse portfolio of more than 40 companies that plan to employ 60,000 Americans and give us a chance to compete and succeed in the global clean energy race.


Now is not the time to stop investing in our nation's future.

Daniel Poneman is the deputy secretary of Energy.

Full article: http://www.usatoday.com/news/opinion/ed ... 50393704/1" onclick="window.open(this.href);return false;

You're quite the sleuth, Z!

[AZGrizFan]

Super.

I was going to post the foxnews.com link, because it was on their front page, but knew myopic motherfuckers like you would then question the "source" because you couldn't refute the facts. The CNN story was buried (at the time, now they probably can't avoid it) 3 clicks in...

And the "facts" that they inherited the application from the Bush Administration means exactly SQUAT. The Bush Adminstration had the sense to turn the applciation down. But Obama fell all over himself to reward a big fat campaign donor with a $500+ million GIFT when everybody in the chain of command KNEW the company was on shaky ground. I wonder what changed between October 2008 and February 2009?

Face it D, this was done for political reasons to reward a supporter, not for some some altruistic "drive green energy for the good of the country" BS. You know it. I know it. That tree stump of a brother of yours knows it. And the evidence is there, plain as the nose on your face. You think maybe there's a reason TTBF isn't here defending his guy? Because he's smart enough to hope this shit just goes away without drawing attention to it.

Watching you brainless donks try to spin this is fucking hilarious.

[D1B]

Super.

I was going to post the foxnews.com link, because it was on their front page, but knew myopic motherfuckers like you would then question the "source" because you couldn't refute the facts. The CNN story was buried (at the time, now they probably can't avoid it) 3 clicks in...

And the "facts" that they inherited the application from the Bush Administration means exactly SQUAT. The Bush Adminstration had the sense to turn the applciation down. But Obama fell all over himself to reward a big fat campaign donor with a $500+ million GIFT when everybody in the chain of command KNEW the company was on shaky ground. I wonder what changed between October 2008 and February 2009?

Face it D, this was done for political reasons to reward a supporter, not for some some altruistic "drive green energy for the good of the country" BS. You know it. I know it. That tree stump of a brother of yours knows it. And the evidence is there, plain as the nose on your face. You think maybe there's a reason TTBF isn't here defending his guy? Because he's smart enough to hope this shit just goes away without drawing attention to it.

Watching you brainless donks try to spin this is fucking hilarious.

No scandal fuckhead. Wanna bet you obstructionist prick?

[AZGrizFan]

Super.

I was going to post the foxnews.com link, because it was on their front page, but knew myopic motherfuckers like you would then question the "source" because you couldn't refute the facts. The CNN story was buried (at the time, now they probably can't avoid it) 3 clicks in...

And the "facts" that they inherited the application from the Bush Administration means exactly SQUAT. The Bush Adminstration had the sense to turn the applciation down. But Obama fell all over himself to reward a big fat campaign donor with a $500+ million GIFT when everybody in the chain of command KNEW the company was on shaky ground. I wonder what changed between October 2008 and February 2009?

Face it D, this was done for political reasons to reward a supporter, not for some some altruistic "drive green energy for the good of the country" BS. You know it. I know it. That tree stump of a brother of yours knows it. And the evidence is there, plain as the nose on your face. You think maybe there's a reason TTBF isn't here defending his guy? Because he's smart enough to hope this shit just goes away without drawing attention to it.

Watching you brainless donks try to spin this is fucking hilarious.

No scandal fuckhead. Wanna bet you obstructionist prick?

OK, D. Keep your head firmly planted here:



It's done you a world of good so far in life...

[D1B]

No scandal fuckhead. Wanna bet you obstructionist prick?

OK, D. Keep your head firmly planted here:



It's done you a world of good so far in life...

Listen, Dickhead. No one gives a company a half a billion dollars for a $5,000 campaign conktribution.

We'll agree to disagree on government funding for alternative energy or whether this was a wise move, but you're seriously fucked if you think if it was a QPQ.

Again, coward, wanna bet this ain't a scandal?

[AZGrizFan]

OK, D. Keep your head firmly planted here:



It's done you a world of good so far in life...

Listen, Dickhead. No one gives a company a half a billion dollars for a $5,000 campaign conktribution.

We'll agree to disagree on government funding for alternative energy or whether this was a wise move, but you're seriously fucked if you think if it was a QPQ.

Again, coward, wanna bet this ain't a scandal?

D.

D.

Come on.

You're a pretty smart guy. You know how corporate campaign financing works.

Do you REALLY think all that guy gave was $5,000?

[D1B]

So two phoney posts by the Cat and that's all the Dems have to say on the subject.

Unlike Z, you and the rest of Team Jesus, we're happy, peaceful, optimistic and have stimulating social lives.

No one gives a fuck about another manufactured conkadoodledo. There will be several a day until BO is reelected.

Yawn.....

[D1B]

Listen, Dickhead. No one gives a company a half a billion dollars for a $5,000 campaign conktribution.

We'll agree to disagree on government funding for alternative energy or whether this was a wise move, but you're seriously fucked if you think if it was a QPQ.

Again, coward, wanna bet this ain't a scandal?

D.

D.

Come on.

You're a pretty smart guy. You know how corporate campaign financing works.

Do you REALLY think all that guy gave was $5,000?

How much did he give Z?

[AZGrizFan]

So two phoney posts by the Cat and that's all the Dems have to say on the subject.

Unlike Z, you and the rest of Team Jesus, we're happy, peaceful, optimistic and have stimulating social lives.

No one gives a fuck about another manufactured conkadoodledo. There will be several a day until BO is reelected.

Yawn.....

[D1B]

Unlike Z, you and the rest of Team Jesus, we're happy, peaceful, optimistic and have stimulating social lives.

No one gives a fuck about another manufactured conkadoodledo. There will be several a day until BO is reelected.

Yawn.....

How much was given Z?

[AZGrizFan]

http://www.freerepublic.com/focus/f-news/2775936/posts" onclick="window.open(this.href);return false;

He was/is a FUNDRAISER, D.

You're a big boy...you do the math.

[D1B]

http://www.freerepublic.com/focus/f-news/2775936/posts

He was/is a FUNDRAISER, D.

You're a big boy...you do the math.

Well, I found this:

billionaire George Kaiser, a key Obama backer who raised between $50,000 and $100,000 for the president’s election campaign, is one of Solyndra’s primary investors. Kaiser himself donated $53,500 to Obama’s 2008 election campaign, split between the DSCC and Obama For America. Kaiser also made several visits to the White House and appeared at some White House events next to Obama officials.

So Z, a hundred grand gets you half a billion, right?

I'll take your ignoring my wager as proof that even you don't buy the scandal part of this.

[AZGrizFan]

http://www.freerepublic.com/focus/f-news/2775936/posts

He was/is a FUNDRAISER, D.

You're a big boy...you do the math.

Well, I found this:

billionaire George Kaiser, a key Obama backer who raised between $50,000 and $100,000 for the president’s election campaign, is one of Solyndra’s primary investors. Kaiser himself donated $53,500 to Obama’s 2008 election campaign, split between the DSCC and Obama For America. Kaiser also made several visits to the White House and appeared at some White House events next to Obama officials.

So Z, a hundred grand gets you half a billion, right?

I'll take your ignoring my wager as proof that even you don't buy the scandal part of this.

If they admit to $100,000 the number is more likely 10 times that amount.

If by "scandal" you mean the way dems commonly employ their political agendas, then no there probably wasn't a scandal. If by "scandal" you mean something illegal done through a back door deal to reward a long-time friend and large campaign donor and fundraiser then yes, there was/is definitely a scandal.

[D1B]

Well, I found this:

billionaire George Kaiser, a key Obama backer who raised between $50,000 and $100,000 for the president’s election campaign, is one of Solyndra’s primary investors. Kaiser himself donated $53,500 to Obama’s 2008 election campaign, split between the DSCC and Obama For America. Kaiser also made several visits to the White House and appeared at some White House events next to Obama officials.

So Z, a hundred grand gets you half a billion, right?

I'll take your ignoring my wager as proof that even you don't buy the scandal part of this.

If they admit to $100,000 the number is more likely 10 times that amount.

If by "scandal" you mean the way dems commonly employ their political agendas, then no there probably wasn't a scandal. If by "scandal" you mean something illegal done through a back door deal to reward a long-time friend and large campaign donor and fundraiser then yes, there was/is definitely a scandal.

Again, no acceptance of my wager.

Next conkadoodledo:

Obama administration investigated for illegal gift of a giant bucket of fried KFC chicken to Oprah following the presidential election. Oprah, a long time friend and campaign.......