Forum Post: The solyndra bailout was started by the Bush administration
Posted 12 years ago on March 18, 2012, 1:36 a.m. EST by BLOWCHUNKS
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Why are you defending a corporate welfare program started by Bush?
It sounds like you are essentially saying that if I give a thousand dollars to a homeless person because he promised to pay me back, the homeless person is the problem for not doing what he said?
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Alright, then I don't understand you. It sounds like you are defending a corporate welfare program started by Bush, and saying that human nature is at fault for taking something free. I agree that it is despicable, but how can you blame a rich greedy person for being greedy? It's what they do.
It was denied by the Bush administration.
Yawn. I see inflammatory posts in the forum are the fad now.
In October 2007, the Department of Energy had completed vetting of the applications and had narrowed the number it was still considering to 16, one of which was the application from Solyndra. The remaining 16 were invited to submit full applications for the program, and Solyndra did so in May 2008.
On January 9, 2009, the Department of Energy's credit committee decided unanimously that although the project "appears to have merit, there are several areas where the information presented did not thoroughly support a finding that the project is ready to be approved at this time." The committee "without prejudice" remanded the project "for further development of information.
After President Obama took office, analysts in the Energy Department and in the Office of Management and Budget questioned the loan, as one Energy official wrote in an e-mail of "a major outstanding issue": cash flow predictions showed that the Fab 2 subsidiary (the entity receiving the loan guarantee) would be low on cash in September 2011, possibly needing help from the parent company until the cash flow recovered in subsequent months.
On August 31, 2011 Solyndra announced it was filing for Chapter 11 bankruptcy protection, laying off 1100 employees, and shutting down all operations and manufacturing
sand is silicon So is granite
January 9, 2009, Under the Bush administration and the Energy Department's credit committee had voted against offering a loan commitment to Solyndra.
There was also concern about the high-risk nature of the project. Internally, the Bush White House Office of Management and Budget wrote that "the risk rating for the project sponsor Solyndra seems high."
seems likely
Yeah-only a crazed moron like Bush would give such a dumb loan to an obviously failing company.
The Bush team tried to conditionally approve the Solyndra loan just before President Obama took office.
The company’s backers included private investors who had diverse political interests.
The loan comprises just 1.3% of DOE’s overall loan portfolio. To date, Solyndra is the only loan that’s known to be troubled.
Because one of the Solyndra investors, Argonaut Venture Capital, is funded by George Kaiser — a man who donated money to the Obama campaign — the loan guarantee has been attacked as being political in nature.
What critics don’t mention is that one of the earliest and largest investors, Madrone Capital Partners, is funded by the family that started Wal-Mart, the Waltons. The Waltons have donated millions of dollars to Republican candidates over the years.
But that truth does not help us blame the Muslim.
I know, right? Those darn Waltons investing our tax money in failing companies!
And the mother of Obamas babies continues to spread his legs. The duke of distracting arguements is here to shield his master.
What's the point in this? Are you like the last phyco still saying Democrat is good and Republican is bad? Both parties have screwed up this country and they both need to go.
Your screen name proves everything, don't hide behind that curtain of objectivity and your "both need to go" claptrap. You just want the GOP back in.
You actually believe a leftwing propaganda site? LOL, No one else does. :)
Yes, I believe the TRUTH. I believe in FACTS. Why? would you rather have BILL OREILLY coo in your ear the things you want to hear? That reinforce your predetermined conclusions about life?
Blowchunks, this fact has been known since the day the Solyndra scandal broke. What you are saying with your post is you agree that Obama's greed and corruption runs deeper than even GW Bush's, that while the Bush administration began the corrupt Solyndra loan, Obama finished it.
So whats your point? What are you trying to convince us of?
Bush was able to give one last favor to his energy company friends right before leaving office.
You're right. Bush's administration passed along the solyndra corruption to Obama's administration. Both sides are equally corrupt, they dance in front of the news cameras as though they are enemies, yet they are on the same team, both getting rich over our current situation. If you think we actually have a 2 party system, you're out of your mind.
Obama was a fine person-until he got in office. Your little GOP friends got in his ear and got him confused and told him lies until he believed you. YOU PEOPLE made him sign the NDAA. YOU PEOPLE made him expand the wiretapping program. YOU turned him into one of YOU. Where's the Barack I voted for? Tell me what YOU did to him.
Whoa Chunks, slow down bud. Step away from the ledge, we...we are still friends. Try to remain calm. I didn't do anything to Obama. He's done this to himself. You said it yourself in past posts, that the GOP never worked with Obama, blocking him at every turn, keeping him from being successful. And now you are saying that he's taking his marching orders from the GOP. It's okay bud, we all have our days where we crack.
Or lifetimes of crack, with GOP loving morons like you.
Thrasy?
No. You are the one who joined today.
But the real money was advanced by Obama, when they've known enough to say "no".