RNC sees gold in Solyndra

posted at 2:05 pm on September 13, 2011 by Ed Morrissey

The RNC thinks the Solyndra scandal can do what three years of failed economic policies have not — erode Barack Obama’s personal favorability ratings with voters.  As I write in my column for The Week, those ratings have remained high for good reason even as his job approval ratings plummet.  We have had no personal scandals coming from the Oval Office, and people appreciate the dedication Obama has for his family — which will always buy good will with voters — and neither have his close aides.  We have had many controversies in the Obama administration, but nothing that threatened to directly impugn Obama’s integrity … until now:

The Obama administration chose Solyndra as its poster child for this effort. The White House fast-tracked approval for taxpayer-backed loan guarantees. The company received $535 million from the Treasury’s Federal Financing Bank in order to build a new manufacturing facility. Obama himself appearanced at Solyndra touting his green-jobs initiative, while Solyndra insisted as late as this summer that their financial status was strong.

Suddenly, though, Solyndra collapsed, seemingly without warning. Its employees — more than a thousand of them — showed up to work on the last day of August to discover that the company had shut its doors. And just as suddenly, we began to find out that the collapse was not unforeseen after all. Despite the assurances of Solyndra executives to members of Congress, the company’s stock price had fallen drastically over the past two years as questions arose about Solyndra’s competitiveness and financial strength. And its taxpayer-backed expansion didn’t create many new jobs, as Congress noticed in February.

It takes more than a bad bet to make a scandal — but Solyndra has connections all the way to Obama himself. When Solyndra initially applied for taxpayer subsidies, auditors at the Department of Energy questioned Solyndra’s stability. So why did the Obama administration fast-track Solyndra’s application? One reason might be that one of the chief investors in Solyndra is George Kaiser — who also was one of Obama’s campaign bundlers in 2008, raising more than $50,000. Solyndra executives made more than 20 visits to the White House between March 2009 and April 2011. Was it a coincidence that Solyndra ended up with an interest rate from the feds at one-fourth the going rate for green-jobs projects? …

The RNC sees electoral gold in Solyndra. On Monday, the RNC launched an effort to shine a bright light on the president’s connections to Solyndra, which isn’t difficult to do, especially after ABC reported that DoE officials sat in on Solyndra’s board meetings for months before the collapse. Despite having this unprecedented access, the Obama administration did nothing to alert Congress that Solyndra would fail, and in fact, failed to respond when Solyndra executives misrepresented the status of the company to members of Congress.

More has come to light this week in the Solyndra scandal, and more of the media has taken notice of it than just ABC, which has led the news outlets in covering the story.  The New York Times’ ClimateWire provides more detail on how Solyndra managed to get its application for government assistance past skeptical auditors:

Solyndra got its first approval from DOE in August 2007, when it scored 88 out of 100 in a technical review. It submitted a full application in August 2008, the memo says.

After President Obama’s election, the Solyndra application made it to an approval committee. But the committee found too many holes, such as the absence of an independent market analysis, to approve it.

DOE hired a consultant to write that analysis, which it received on March 6, 2009. The application proceeded. Eleven days later, it arrived at a more senior approval board that included Energy Secretary Steven Chu. …

The last hurdle was Solyndra’s “credit subsidy cost”: essentially, a measure of how risky the loan was. DOE had given the Office of Management and Budget a figure, according to the Republican memo, but OMB felt DOE had underestimated the riskiness of the loan.

OMB recommended adjustments, which DOE accepted, and the loan guarantee was finalized on Sep. 2, 2009.

This morning, though, Bloomberg says that the DoE was warned in March 2010 by Pricewaterhouse Cooper that Solyndra would collapse — a warning which the Obama administration ignored:

Solyndra LLC’s workers making solar-power panels in a California factory subsidized by U.S. taxpayers showed “the promise of clean energy isn’t just an article of faith,” President Barack Obama said on a visit to the company in May 2010.

Two months before Obama’s visit, accounting firm PricewaterhouseCoopers LLP warned that Solyndra, the recipient of $535 million in federal loan guarantees, had financial troubles deep enough to “raise substantial doubt about its ability to continue as a going concern.”

The Obama administration stood by Solyndra through the auditor’s warning, the abandonment of a planned initial public offering and a last-ditch refinancing where taxpayers took a back seat to new investors. That unwavering commitment has come under increasing scrutiny since the company’s travails culminated in its filing for bankruptcy protection on Sept. 6 and a raid on its headquarters by the Federal Bureau of Investigation two days later.

“People including our government put blinders on and did not want to believe in the obvious,” Jonathan Dorsheimer, an analyst in Boston for Canaccord Genuity Inc. of Vancouver, said in an interview with Bloomberg Government. “The fact that the government chose Solyndra as their white horse is mind- boggling.”

And that wasn’t the only warning, says the Center for Public Integrity:

First signs came in 2008, as Solyndra, then just three years old, pushed ahead with its application for government backing to build a new plant to produce its unique solar panels. An outside rating agency, Fitch, gave Solyndra a B+ credit rating that August. Two months earlier, in June 2008, Dun & Bradstreet issued a credit appraisal of the company. Its assessment: “Fair.”

Those are not top of the line scores. Fitch Ratings spokeswoman Cindy Stoller said she could not discuss the Solyndra review specifically, but said of a B+ rating: “It’s a non-investment grade rating.” She provided a company ratings definition, showing that B+ falls between a “highly speculative” B and “speculative” BB. …

In June 2010, a month after Obama’s visit, Solyndra canceled its IPO [17]. To outsiders, that was clear evidence the company continued to stand on shaky ground.

Soon, its top investors – and the Department of Energy – would rescue it once more.

In February 2011, Kaiser and other investors raised $75 million to push the company forward. At the same time, the DOE refinanced its loan to push back the payoff date. Already, that loan carried a rock bottom interest rate of 1 to 2 percent [8]. Now, the government was giving Solyndra room to breathe.

When Congress came knocking, Solyndra insisted that it was stable, a perception that the Obama administration apparently did nothing to correct despite the DoE’s attendance of Solyndra board meetings:

“Less than two months ago, Mr. Harrison met with us and other Committee members to assure us that Solyndra was in a strong financial position and in no danger of failing,” DeGette and Henry Waxman (D-Calif.) wrote to Republicans [19] leading the investigation.

“At that time, he said the company was projected to double its revenues in 2011, there was ‘strong demand in the United States’ for its shipments, and the company was expected to double the megawatts of panel production shipped this year. These assurances appear to contrast starkly with his company’s decision to file for bankruptcy last week.”

They closed: “Any thorough examination of the Solyndra loan guarantee should include the opportunity to ask Mr. Harrison about his representations. He did not convey to us the perilous condition of the company and the Committee should know why.”

Well, an even better question would be why the DoE and Secretary Stephen Chu didn’t inform Congress of Solyndra’s financial straits.  Harrison has to answer for his own alleged misrepresentations, but the DoE is explicitly accountable to Congress.  This looks like an attempt to hide Solyndra’s teetering position at just the time Congress was beginning to question how the firm ended up with more than a half-billion dollars in taxpayer backing.

Small wonder, then, that the RNC sees an opportunity to tie Obama directly to corruption in the Solyndra collapse.  However, Reason’s Ronald Bailey offers a little physician-heal-thyself wisdom to the GOP:

In a turn-about-is-fair-play mode, Team Blue flunkies are now crowing that the Bush administration also favored the Solyndra subsidies and that a private investment firm, Madrone Capital Partners, associated with the Walton (Walmart) family also lost money on the deal. The Waltons apparently contribute to Team Red candidates.

Puhleeze! Bluesters and Redsters, y’all are missing the obvious and crucial main point: The federal government had no business subsidizing Solyndra (or any other firm) in the first place. Until you both understand that point, please be quiet.

Did the Bush administration favor Solyndra subsidies?  The initial application was approved in August 2008, but no guarantees were issued until the Obama administration took office.  Think Progress argues that the Bush DoE promoted the Solyndra application the day before Bush left office “[i]n an effort to show it has done something to support renewable energy” without explaining why that would matter in the least.  Bush had nothing to gain, and neither did Republicans, after the shellacking of 2008.  Even in their timeline, no money at all changed hands until September 2009 — after auditors had warned the Obama administration about the risk of failure at Solyndra.

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Green is the new stupid.

hillbillyjim on September 13, 2011 at 2:08 PM

The fact that all the information has to be gotten via subpoenas is extremely telling.

Solyndra is not cooperating either, delaying their appearance to the congress by a week, likely to coordiante with the WH.

Schadenfreude on September 13, 2011 at 2:08 PM

It is going to hard for BHO to say he did not know anything about this company this time…

d1carter on September 13, 2011 at 2:09 PM

The hedge fund taking priority over the taxpayers might be illegal, per the current gov’t agencies.

Schadenfreude on September 13, 2011 at 2:09 PM

I have no idea, but I do know that you guys come up with really cool names for your fake scandals.

crr6 on July 10, 2011 at 1:24 PM

lorien1973 on September 13, 2011 at 2:10 PM

Sorry, s/b hedge funds, in the plural.

Add that 1100 lost their jobs, all of which will go abroad now.

Taxpayers should ask for an investigation all the way.

Schadenfreude on September 13, 2011 at 2:10 PM

Welcome to the Chicago Way, America.

Drained Brain on September 13, 2011 at 2:10 PM

How about Project Gun Runner/Fast and Furious, Ed?

dthorny on September 13, 2011 at 2:11 PM

Green is the new stupid.

hillbillyjim on September 13, 2011 at 2:08 PM

It sure is.

Rebar on September 13, 2011 at 2:12 PM

Schadenfreude on September 13, 2011 at 2:08 PM

If there is a criminal investigation Congress should not be subpoenaing these guys anyways. Too often testimony given in public hearings results in cases being tossed because a judge says a fair trial is not possible. Also, any testimony given is inadmissible in a court of law and potentially taints all other evidence.

NotCoach on September 13, 2011 at 2:12 PM

Considering the heavy hitters who were the initial funders for this company you have to wonder why nobody wanted to shake up management and such as it went down the tubes.

CommentGuy on September 13, 2011 at 2:13 PM

How about Project Gun Runner/Fast and Furious, Ed?

dthorny on September 13, 2011 at 2:11 PM

Good question, there has been big developments with that story, that should be covered.

Rebar on September 13, 2011 at 2:13 PM

Isnt just the GOP> however the democrats are trying to portrait this as Solyndra lying to them rather than Obama lying to get them a benefit.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/09/13/BUGI1L3J4S.DTL

The committee has asked Harrison and Solyndra’s chief financial officer, W.G. Stover, to attend Wednesday’s hearing. Committee members say they want Harrison to explain his earlier, upbeat comments about the company’s fiscal health.

“These assurances appear to contrast starkly with his company’s decision to file for bankruptcy last week,” wrote Reps. Henry Waxman of Los Angeles and Diana DeGette of Colorado, the committee’s ranking Democrats, in a letter to one of their Republican colleagues. “He did not convey to us the perilous condition of the company and the Committee should know why.”

William Amos on September 13, 2011 at 2:13 PM

One reason might be that one of the chief investors in Solyndra is George Kaiser — who also was one of Obama’s campaign bundlers in 2008, raising more than $50,000.

Obama: I raised over a billion dollars. If you think I can be bought for $50000, frankly, Im offended.

It would take at least $150,000…

JohnGalt23 on September 13, 2011 at 2:14 PM

So what happened to the half $Bil???

Youngs98 on September 13, 2011 at 2:14 PM

How about Project Gun Runner/Fast and Furious, Ed?

dthorny on September 13, 2011 at 2:11 PM

No obvious connection to the Oval Office.

Not yet, at least…

JohnGalt23 on September 13, 2011 at 2:15 PM

Scandal?? Obama?? You’re joking right?? Black Panthers,Fast and Furious,Rev Wright… Any one of these would have killed a GOP administration, but with the Dems and especially Obama, there is nothing that could dent the media fortress surrounding this administration.

xkaydet65 on September 13, 2011 at 2:15 PM

So what happened to the half $Bil???

Youngs98 on September 13, 2011 at 2:14 PM

It went up to money heaven…

JohnGalt23 on September 13, 2011 at 2:15 PM

NotCoach on September 13, 2011 at 2:12 PM

True, but you know that Holder doesn’t uphold, but covers the law.

Schadenfreude on September 13, 2011 at 2:17 PM

Meanwhile more money is going out

http://news.yahoo.com/doe-invests-145-million-solar-energy-technologies-200600967.html

This Thursday, United States Department of Energy Secretary Steven Chu announced that the DOE will be investing over $145 million into solar energy technologies projects, specifically 69 projects in 24 different states.

William Amos on September 13, 2011 at 2:18 PM

I find the obummercare waivers to be scandalous too. And Gibson guitars not to mention the GM and CHrysler dealers kicked to the curb and new dem leaning dealers opening shop.

But the biggest scandal of all is still the media’s love affair that allows nothing to be exposed. But them so many in the media are former dem operatives, married to dem operatives or children of dem operatives.

clnurnberg on September 13, 2011 at 2:19 PM

“the promise of clean energy isn’t just an article of faith,” President Barack Obama said on a visit to the company in May 2010.

It’s an article of fraud.

forest on September 13, 2011 at 2:23 PM

RNC sees gold in Solyndra

That’s exactly what the DemoRats thought!

honsy on September 13, 2011 at 2:23 PM

Not to be picky but it’s PricewaterhouseCoopers, or PwC for short.

txag92 on September 13, 2011 at 2:25 PM

Hey, I have a solution! The government shouldn’t invest in private businesses!

MTF on September 13, 2011 at 2:26 PM

Green is the new stupid.

hillbillyjim on September 13, 2011 at 2:08 PM

Yep, been stupid all along. The very concept of “Renewable” energy defies logic and would violate a basic law of physics.

Oldnuke on September 13, 2011 at 2:30 PM

— erode Barack Obama’s personal favorability ratings with voters. As I write in my column for The Week, those ratings have remained high for good reason

Yes, they remain high for a good reason. The press will not report any thing in a manner that can make BHO look even a little bit personally culpable for his actions.

The waivers, the guitar mess, the actions by appointees that he has a personal history with, and the tens of millions spent by and on his family vacationing: had any of these been covered objectively they would have taken BHO’s personal approval numbers into the cellar.

Nathan_OH on September 13, 2011 at 2:31 PM

I can guarantee that the “independent market analysis” either had Obama dictating green usage or using the “GM model”, whereas they continue to spend more than they make and have the government continue to subsidize their losses.

As Kermit the Frog would say, “It’s not easy being green”. Cue the music.

djaymick on September 13, 2011 at 2:31 PM

Of course, even to mention “Tony” Rezko is so 2006. Besides, Obama admitted then that he’d been “boneheaded,” and that should be good enough coming from the Smartest Man in The World.

All of that next-door-neighbor-who-sells-you-a-cheap-lot-seven-months-after-closing-the-original-deal-on-the-same-day stuff is nothing more than coincidence and best forgotten, right?

I know that friendly neighbors have give me deals like that two or three times at least, and I’m sure it’s happened to others as well.

Drained Brain on September 13, 2011 at 2:32 PM

Saving the earth is hard.

artist on September 13, 2011 at 2:32 PM

Ha!

The Lame Stream Media is all but ignoring Barack Hussein Obama’s and his administration’s involvement with Solyndra. It barely rates a ripple amongst the vast majority of voters as a result.

It’ll end up being a Nothing Burger.

FlatFoot on September 13, 2011 at 2:33 PM

So why did the Obama administration fast-track Solyndra’s application? One reason might be that one of the chief investors in Solyndra is George Kaiser — who also was one of Obama’s campaign bundlers in 2008, raising more than $50,000.

To paraphrase Brian Williams, how in the he11 do these people sleep at night?

I hope they all end up in prison for a long, long time.

UltimateBob on September 13, 2011 at 2:34 PM

In a turn-about-is-fair-play mode, Team Blue flunkies are now crowing that the Bush administration also favored the Solyndra subsidies and that a private investment firm, Madrone Capital Partners, associated with the Walton (Walmart) family also lost money on the deal. The Waltons apparently contribute to Team Red candidates.

This, of course, completely absolves the Obama Administration from any and all blame. Even if they reviewed and then approved the loan. Bush gets all the blame because he supported the initiative.

BobMbx on September 13, 2011 at 2:34 PM

I’m telling you…

… the day will come when we all think we have voted Obowma out of office, and the locked doors of the White House will suddenly swing open and Obowma and all his Czars will jump out and yell:

“SURPRISE!!!”

Seven Percent Solution on September 13, 2011 at 2:36 PM

The RNC thinks the Solyndra scandal can do what three years of failed economic policies have not — erode Barack Obama’s personal favorability ratings with voters.

 
What’s so hard? Just air commercials during American Idol showing a loop of her smirking at the 9/11 ceremony and whispering, “All that for that flag?” to Barry before shaking her head in disgust.
 
Put the words under it so that people can follow along. Done.

rogerb on September 13, 2011 at 2:37 PM

Hey, I have a solution! The government shouldn’t invest in private businesses!

MTF on September 13, 2011 at 2:26 PM

I disagree. Lockheed Martin, Northrup Grumman and Boeing are all private businesses. Everything from the F-15 to the B-52 are built by them.

Washington Nearsider on September 13, 2011 at 2:37 PM

I am going to go out on a limb and predict that obama is not in WH for 2 terms. as these scandals begin to pile up, they will bring him down and one of 2 things will happen.

1. he will lose the election.
2. if he wins the election, God Forbid, he will be impeached

This stuff that he is doing is worse than what Nixon and Clinton did combined.

ConservativePartyNow on September 13, 2011 at 2:38 PM

No obvious connection to the Oval Office. Not yet, at least… JohnGalt23 on September 13, 2011 at 2:15 PM

RE: Fast & Furious, I think that since there were six or eight govt depts from IRS to DOJ to ATF, DEA and more, there’s no doubt that there had to be coordination at the chief executive level.

Nobody has died in connection with Solyndra. Yet. Dozens have been killed with F&F guns, including Americans.

Akzed on September 13, 2011 at 2:38 PM

The scandal concerning the dismissal of whistleblower Gerald Walprin is getting to be ancient history, but it too is unresolved and ready to add as campaign ammunition against this shamelessly corrupt administration.

Sowell Disciple on September 13, 2011 at 2:38 PM

These type of scandal, so common under Obama, are the things the candidates should be harping about instead of the “Ponzi scheme” type rants.

whatcat on September 13, 2011 at 2:39 PM

Who cares? Did you know Perry got $5000 from Merck and later mandated Gardasil, manufactured by Merck? Smoking gun, baby!

John Deaux on September 13, 2011 at 2:41 PM

These type of scandal, so common under Obama, are the things the candidates should be harping about instead of the “Ponzi scheme” type rants.

whatcat on September 13, 2011 at 2:39 PM

totally agree. our goal should be defeating obama, not each other

ConservativePartyNow on September 13, 2011 at 2:43 PM

I disagree. Lockheed Martin, Northrup Grumman and Boeing are all private businesses. Everything from the F-15 to the B-52 are built by them.

Washington Nearsider on September 13, 2011 at 2:37 PM

They don’t owe the DoD.

BobMbx on September 13, 2011 at 2:43 PM

The “S” in SCOAMF now stands for “scamming.”

Red Cloud on September 13, 2011 at 2:44 PM

“Solargate”? Hmmmm…

Ward Cleaver on September 13, 2011 at 2:46 PM

The logic of the Husein Obama supporters always seems to be that if Bush did it, it was wrong therefore if Obama does it, it’s good. Pretzels on parade.

Dhuka on September 13, 2011 at 2:48 PM

These type of scandal, so common under Obama, are the things the candidates should be harping about instead of the “Ponzi scheme” type rants.

whatcat on September 13, 2011 at 2:39 PM

totally agree. our goal should be defeating obama, not each other
ConservativePartyNow on September 13, 2011 at 2:43 PM

It’s not so much that angle, defeating Obama (though it is indirectly), more like it wasn’t the brightest line of attack to be offered in the first place and it just turns the general electorate off. Unfortunately conservative media (e.g. Hannity, Rush) keep bringing it up for double-down purposes. Huge waste of time.

whatcat on September 13, 2011 at 2:51 PM

“Solar Energy jobs wasn’t as bright as I thought” – Obama
(Laughter)

Electrongod on September 13, 2011 at 2:53 PM

We give them 500 million
They spebt 480,000 of it lobbying Congress for more. Did we give them money to wine and dine and hustle congress?
How can you spend 480,000 on lobbying?

seven on September 13, 2011 at 2:53 PM

Obama: I raised over a billion dollars. If you think I can be bought for $50000, frankly, Im offended.

It would take at least $150,000…

JohnGalt23 on September 13, 2011 at 2:14 PM

That was gold…

haner on September 13, 2011 at 2:54 PM

Solyndra Green is feeble!!!

for you 70′s scfi movie fans…

MechEng5by5 on September 13, 2011 at 2:55 PM

So Obama whored himself out for a lousy 50 grand? Stupid.

Ward Cleaver on September 13, 2011 at 2:56 PM

Hahahahahahahaha.

You actually believe the MSM (aka Obama 2012 campaign) will cover this?

Hahahahahahahahahahahahaha.

Ahhhhhh….(wipes tear of laughter from eye)..hee…that was a pretty good one.
Solyndra –hee.

Dr. Carlo Lombardi on September 13, 2011 at 3:00 PM

How about Fast and Furious?
How about Obamacare?
How about Libya?
How about (on and on)…….personal favorability>?

I like my dog, but I don’t want it to be the POTUS.
If Obama hasn’t brought himself down by now…..we have an idiotic electorate that truly deserves this man, or we have a media that will continue to fight from letting anything stick to him.

This is all so depressing.

bridgetown on September 13, 2011 at 3:02 PM

How about Fast and Furious?
How about Obamacare?
How about Libya?
How about (on and on)…….personal favorability>?

I like my dog, but I don’t want it to be the POTUS.
If Obama hasn’t brought himself down by now…..we have an idiotic electorate that truly deserves this man, or we have a media that will continue to fight from letting anything stick to him.

This is all so depressing.

bridgetown on September 13, 2011 at 3:02 PM

Thanks to his serial-lying sycophants in the media, The Chicago Jesus is making The Teflon Don look like a piker.

hillbillyjim on September 13, 2011 at 3:09 PM

Green is the new stupid.

hillbillyjim on September 13, 2011 at 2:08 PM

Saving the earth is hard.

artist on September 13, 2011 at 2:32 PM

Solyndra Green is feeble!!!

MechEng5by5 on September 13, 2011 at 2:55 PM

I’m thinking of starting a t-shirt company but first, I’ll need $535 million in federal loan guarantees and a few of you to sign off on your creative property rights.

Fallon on September 13, 2011 at 3:10 PM

Van Jones!!!!

Greeeeeeeeeeeeeeeeeeeeeeeeen!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Stinking goddamn communist filth.

hillbillyjim on September 13, 2011 at 3:11 PM

Green jobs ARE tax loopholes!

malkinmania on September 13, 2011 at 3:12 PM

I’m thinking of starting a t-shirt company but first, I’ll need $535 million in federal loan guarantees and a few of you to sign off on your creative property rights.

Fallon on September 13, 2011 at 3:10 PM

With this bunch in office, make those tees green and you’re golden.

hillbillyjim on September 13, 2011 at 3:14 PM

but nothing that threatened to directly impugn Obama’s integrity

Since when do we expect a Chicago community agitator to have integrity?

Green is the new stupid.

hillbillyjim on September 13, 2011 at 2:08 PM

Yes, green is the new stupid. Green is also the new corporate welfare. And green is the new leading tax loophole.

petefrt on September 13, 2011 at 3:15 PM

Even better, Fallon, sell ‘em with a beanie, propeller and all, and call it a wind farm. What the heck?

Gajillions guaranteed. And jobs; lots and lots of jobs.

hillbillyjim on September 13, 2011 at 3:16 PM

So Obama whored himself out for a lousy 50 grand? Stupid.

Ward Cleaver on September 13, 2011 at 2:56 PM

I charged him a lot less! I feel so stupid now.

Sincerely yours,

Larry Sinclair

honsy on September 13, 2011 at 3:19 PM

Even better, Fallon, sell ‘em with a beanie, propeller and all, and call it a wind farm. What the heck?

Gajillions guaranteed. And jobs; lots and lots of jobs.

hillbillyjim on September 13, 2011 at 3:16 PM

So… You wanna partner up on this? 70/30 split okay?

Fallon on September 13, 2011 at 3:19 PM

So… You wanna partner up on this? 70/30 split okay?

Fallon on September 13, 2011 at 3:19 PM

57/57.

hillbillyjim on September 13, 2011 at 3:21 PM

hillbillyjim on September 13, 2011 at 3:16 PM

We’re gonna need

malkinmania on September 13, 2011 at 3:12 PM

to sign off as well…

Green jobs ARE tax loopholes!

Fallon on September 13, 2011 at 3:21 PM

57/57.

hillbillyjim on September 13, 2011 at 3:21 PM

On a hand shake? Sure…

Fallon on September 13, 2011 at 3:22 PM

Solyndra sounds like a beautiful Egyptian queen but in reality is a toothless hag from DC.

MaiDee on September 13, 2011 at 3:22 PM

I’m all in.

hillbillyjim on September 13, 2011 at 3:23 PM

Stephen Chu – IDIOT!

GarandFan on September 13, 2011 at 3:24 PM

Solyndra sounds like a beautiful Egyptian queen but in reality is a toothless hag from DC.

MaiDee on September 13, 2011 at 3:22 PM

T-shirt!

That would be lovely in a nice hunter green, don’t you think?

hillbillyjim on September 13, 2011 at 3:24 PM

toothless worthless is more appropriate under the circumstances…

Still, I love it.

hillbillyjim on September 13, 2011 at 3:26 PM

said of a B+ rating: “It’s a non-investment grade rating.”

We should have known that already, from our B+ president.

He’s not investment grade either. Like Solyndra, he’s junk.

AZCoyote on September 13, 2011 at 3:38 PM

But wait a minute!

This is the smartest, most brilliant and pragmatic president and administration EVAH!

Opposite Day on September 13, 2011 at 3:40 PM

Think Progress argues that the Bush DoE promoted the Solyndra application the day before Bush left office “[i]n an effort to show it has done something to support renewable energy” without explaining why that would matter in the least.

IOW, “It’s Bush’s fault!”

(Isn’t everything?)

AZCoyote on September 13, 2011 at 3:40 PM

Even better, Fallon, sell ‘em with a beanie, propeller and all, and call it a wind farm. What the heck?

Gajillions guaranteed. And jobs; lots and lots of jobs.

hillbillyjim on September 13, 2011 at 3:16 PM

Hey I’d like to get in on some of this. In addition to the wind farm beanie, I think we could get in on the green household appliance market. I have some prototypes for solar-powered clothes dryers if anyone is interested.

Lily on September 13, 2011 at 3:43 PM

Bush DoE promoted the Solyndra application the day before Bush left office

Time to clean house. Even Republican administrations have been infiltrated by these loons!

honsy on September 13, 2011 at 3:43 PM

I’ve said from the beginning that it won’t pay to attack Obama directly. You’ve got to show his cabinet is full of crooks and crackpots, that he’s surrounded himself with a bunch of academic incompetents.

Stephen Chu fits that to a T.

JEM on September 13, 2011 at 3:50 PM

the government should not be picking winners and losers that is for the free market to decide. Also read that the owners of this company will be made whole because the federal guarantee includes their investment.

Ricki on September 13, 2011 at 3:54 PM

Keep it simple. Whenever Obama talks about investments in America, or investment in the future, or investment of tax dollars, Solyndra should be trotted out a proof that Obama knows absolutely nothing about investment.

stefano1 on September 13, 2011 at 3:55 PM

I’m thinking a green-beanie (pun intended, sadly) with O’Stash Cash embroidered in SEIU Purple ought to do the trick.

hillbillyjim on September 13, 2011 at 3:58 PM

Major Kudos to San Francisco Radio station KSFO-560AM for breaking the Solyndra story on Brian Sussman’s Wistleblower Wednesday Morning Show!

Solyndra employees called into Brian’s radio show immediately after being laid off and others called in during the rest of the week with evolving details.

Gotta keep an eye on the Conservatives in San Francisco! They are doing important investigative work from deep blue liberal turf!

wren on September 13, 2011 at 4:38 PM

Think Progress argues that the Bush DoE promoted the Solyndra application the day before Bush left office “[i]n an effort to show it has done something to support renewable energy” without explaining why that would matter in the least. Bush had nothing to gain, and neither did Republicans, after the shellacking of 2008.

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Why would it be a stretch to surmise that the new administration, possibly through its unprecedented Office of the President-Elect (Vero Possumus), requested The Bush administration to advance Solyndra’s application to the DoE credit review committee just to get a feel for the strength or weakness of the application? I, for one, can see Ø asking for the most outrageous things once he had gotten an OP-E(VP) installed. I can also see him being a secretive sneak about it now, conniver that he is, not owning up to having the Bush administration carry his water in an innocent and co-operative fashion so he, Teh Once, could pay off a political debt.
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This is just the kind of morally defunct, slimy people we are dealing with, in my opinion.

ExpressoBold on September 13, 2011 at 5:47 PM

blink – #1 is SOP in Hail Mary supplementary funding rounds. You’re going out for more money because you’re desperate, if you haven’t gotten to an IPO or an acquisition by that point you’re probably going to fold anyway. The folks who kicked in for the earlier rounds (like us taxpayers, in this case) have two choices: either you take your sloppy seconds and hope the thing flies after all, or you say ‘no’ and the thing folds. The latter case only makes sense if there’s some unique asset you want to get out of the collapse.

#2 is the big issue.

#3 would not be an issue in a healthy economy; I won’t object to small chunks of seed funding or funding things that are DoD needs (that’s how we got ARPAnet/MILnet/internet, after all), because if we had a healthy industrial/manufacturing base some private-sector entity would then take the ball and run with it. As things stand now, though, you’ve got to wonder whether we’d be funding technologies that’d end up being bought out by some Chinese outfit.

JEM on September 13, 2011 at 5:48 PM

“We have had many controversies in the Obama administration, but nothing that threatened to directly impugn Obama’s integrity … until now:”

WTF?????

If Ed really believes “… but nothing that threatened to directly impugn Obama’s integrity…”, I submit that this most transparent of transparent administration has shared with Ed the DC wacky weed.

Danny on September 14, 2011 at 12:00 AM