Chu: I give myself an A-minus on managing taxpayer investments

posted at 1:55 pm on March 1, 2012 by Ed Morrissey

Consider this your spit-take moment of the day.  After overruling Department of Energy auditors and losing $535 million on Solyndra, as well as a number of other green-tech flops, Energy Secretary Stephen Chu gives himself a pretty good grade as a steward of public funds.  In fact, after Rep. Paul Broun (R-GA) asks him to assign himself a grade, Chu goes one better than Barack Obama’s one-year self-assessment of a “good, solid B-plus”:

Rep. Paul Broun (R-GA): “Thank you Mr. Chairman. Mr. Secretary I believe that the federal government should not be picking winners and losers in the market place. Seems to me the DOE has repeatedly proven that this Administration is clueless when it comes to making good business investments and that it also tends to side with political crony companies. Unfortunately the Department’s political favors come with more than a billion dollar price tag that will have to be paid for by American taxpayers. Time and time again we’ve seen companies like Abound, Solar, Beacon Power, A123 batteries and, of course, Solyndra, receive millions and billions of dollars just to drop jobs. In addition to those 465,000 or 465 million that went to Tesla Motors to make a luxury electric car with a sticker price of $100,000. Worst kind of corporate welfare. In the President’s energy budget, the few people who would be able to afford those cars would receive a $10,000 tax subsidy. How can President Obama justify asking for more than a half a billion dollars in additional funding for his preferred green programs? Secretary Chu you tell me why you think your department deserves more taxpayer money to blow through given your abysmal track record. What grade would you say you deserve for your management of the DOE resources over the last three years?”

Department Of Energy Secretary Steven Chu: “Well I would give myself a pretty good grade because if you look at what we’ve done, and what we’ve supported, and the breakthroughs that have occurred during this tenure, I think it speaks very well. As I said before, that battery research has been going extremely well, way ahead of what we thought was the schedule. We’re very focused on a lot of the good technologies on solar technologies, and as another example, the bioenergy, the bioenergy centers that which were started under the previous administration have done extremely well and we’re continuing funding those. A lot of the inventions and technologies are now being licensed by companies and they’re entering into pilot production. So there are many successes in the technologies that the Department of Energy has supported and the private sector, American industry, are picking up these technologies.”

Broun: “So what grade would you give yourself?”

Chu: “Oh -”

Broun: “A to F, what grade would you give yourself?”

Chu: “There’s always room for improvement, maybe an A-.”

Well, thank goodness that “there’s always room for improvement.”  Here are a few of Chu’s greatest hits, er, areas of potential improvement:

In fact, CBS reported that twelve firms have gotten approvals from Chu for an aggregate of $6.5 billion and are on the ropes now:

CBS News counted 12 clean energy companies that are having trouble after collectively being approved for more than $6.5 billion in federal assistance. Five have filed for bankruptcy: The junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES’ subsidiary Eastern Energy and Solyndra.

There is a lot of room for improvement, unless the goal is to destroy capital by seizing it from taxpayers and sinking it into one bad investment after another.  If that was the goal, then Chu deserves an A-plus.


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“Room for improvement” obviously means “I should have increased my cut.”

Archivarix on March 1, 2012 at 1:57 PM

Awesome. Based on that I give myself a 5.0 GPA and a 99% raise!

What?!?!?!?!

landowner on March 1, 2012 at 1:58 PM

If my private broker invested my money this way I wouldn’t give him an A-, I’d give him a lawsuit.

Meric1837 on March 1, 2012 at 1:59 PM

What world do these people live in?

Fuquay Steve on March 1, 2012 at 1:59 PM

And thus the overwhelming reason why students are not and should not be allowed to self-grade.

stukinIL4now on March 1, 2012 at 1:59 PM

Welcome to Fantasy Island. Is this guy for real? Get a grip, please.

Smooth Rooster on March 1, 2012 at 1:59 PM

If I was doing the grading, I would give him an A hole.

Flange on March 1, 2012 at 1:59 PM

It just blows my mind how bizarre this administration is. Orwellian doesn’t even begin to describe it.

frode on March 1, 2012 at 2:00 PM

Communists always have high opinions of themselves.

darwin on March 1, 2012 at 2:00 PM

Well gosh chu, I would give you and your boss a F+! How’s that chu?
L

letget on March 1, 2012 at 2:00 PM

F in business, but A- in taking taxpayer money from political foes and lavishing it on allies. Can’t deny they’ve been successful there.

JeremiahJohnson on March 1, 2012 at 2:00 PM

Geez. Wish I had him for a professor. I could turn in papers from high school on completely different subjects and still maintain a 4.0

thirtyandseven on March 1, 2012 at 2:01 PM

I wish the entire Obama Administration had to retire on the returns from their government “investments”.

cartooner on March 1, 2012 at 2:01 PM

It just blows my mind how bizarre this administration is. Orwellian doesn’t even begin to describe it.

frode on March 1, 2012 at 2:00 PM

I knew Obama was going to be bad … but he and his administration have exceeded anything I thought he was going to do.

darwin on March 1, 2012 at 2:01 PM

Dunce

cmsinaz on March 1, 2012 at 2:01 PM

This is among many of the last straws. Everyday multiple last straws are added to the previous days. I am so tired of these people. Is it November yet? Has early voting started started yet?

Fuquay Steve on March 1, 2012 at 2:01 PM

Well, the minus part is right. He’s just 4 levels too high.

Steve Eggleston on March 1, 2012 at 2:02 PM

But he’s ok with higher gas prices so its ok

cmsinaz on March 1, 2012 at 2:02 PM

I’d give him an “F” in self awareness. What a tool.

natasha333 on March 1, 2012 at 2:03 PM

Grade inflation has reached outlandish territory. I’d give him a z minus, only because there’s nothing lower.

rbj on March 1, 2012 at 2:04 PM

A-? That’s some grading curve.

Desert Gardens on March 1, 2012 at 2:04 PM

We should ease up a bit. These command and control economies are hard to get right.

gwelf on March 1, 2012 at 2:04 PM

Grading yourself is exactly how our feeling-good-about-yourself-is-better-than-learning-the-basics educational system produced this Socialist tool.

Welcome to the spawn of the Socialist educational system.

OhEssYouCowboys on March 1, 2012 at 2:05 PM

Oh, and my previous post applies to Chu, too.

;O)

OhEssYouCowboys on March 1, 2012 at 2:06 PM

Desert Gardens on March 1, 2012 at 2:04 PM

LOL!! I was thinking the same thing.

Cindy Munford on March 1, 2012 at 2:06 PM

O/T,

Appeals court panel won’t rule on Alabama, Georgia immigration laws until after Supreme Court rules on Arizona

Submitted 8 mins ago from blog.al.com
http://www.breakingnews.com/
=============================

http://blog.al.com/breaking/2012/03/alabama_immigration_law_in_11t.html

canopfor on March 1, 2012 at 2:07 PM

If he was grading himself with taking our hard earned cash and moving it into the pockets of the President’s supporters and cronies then he obviously earned an A+.

SGinNC on March 1, 2012 at 2:08 PM

Nice for political appointees there is no punishment for poor performance. Holder,….i’m looking at you.

a capella on March 1, 2012 at 2:08 PM

A-? That’s some grading curve.

Desert Gardens on March 1, 2012 at 2:04 PM

Well, when you’re in a class with Holder, Bernanke, and Obama, it does tend to work out that way.

thirtyandseven on March 1, 2012 at 2:09 PM

Come on people, what’s a few billion here or there eh?

I mean, lets let the Govt do as they wish, it’s for our good and benefit, right?

I mean we are overflowing with an abundance of tax payer cash right?

It’s a fabulous stash to raid from time to time right?

Hey, it’s Obama’s stash!!

I wanna get me some… (hand out begging)…

I might be going insane… help????

Scrumpy on March 1, 2012 at 2:09 PM

A-? That’s some grading curve.

Desert Gardens on March 1, 2012 at 2:04 PM

Dead Man’s Curve, even.

Steve Eggleston on March 1, 2012 at 2:10 PM

I just paid more for a tank of gas than I ever have. I know I’ll be paying more this summer. Thanks Energy Secretary Chu! You’re handling of our energy resources deserves an A double plus!

/s

theCork on March 1, 2012 at 2:13 PM

President present gave himself a “Solid B-” Chu gives himself a A-. Hmmmm, me thinks the American people should give both of them atomic wedgies and the mother of all lawsuits for financial malpractice and general corruption.

SWalker on March 1, 2012 at 2:13 PM

Imagine the grades that the people would give him and the rest of these goofballs if that money had actually be put towards the debt.

Cindy Munford on March 1, 2012 at 2:14 PM

A minus my *ss!!
=================

Energy Secretary Chu Testifies on Solyndra Loan
************************************************

Washington, DC
Thursday, November 17, 2011
****************************

Energy Secretary Steven Chu takes questions from House Oversight Committee lawmakers on his role in the federal loan guarantee made to the solar energy company Solyndra.

Sec. Chu told the Subcommittee on Oversight and Investigations that there was no political pressure from the White House on the decision to loan over half a million dollars to Solyndra – a company that went bankrupt in September of this year. Sec. Chu said he regretted the company’s failure, but stressed the importance of investing in new energy sources.

Energy Committee Republicans began looking into the Solyndra loan earlier this year. This summer, the committee subpoenaed documents from the White House’s Office of Management and Budget (OMB), which was responsible for reviewing the risks of providing Solyndra the guarantee, which was part of the president’s economic stimulus.

Solyndra Inc. received a $535 million government loan but laid off 1,100 workers and filed for bankrupt

http://www.c-span.org/Events/Energy-Secretary-Chu-Testifies-on-Solyndra-Loan/10737425577/

====================================

Energy Secretary Chu Testifies on Solyndra Loan
Solyndra Hearing with DOE Sec. Chu Part 1
*****************************************

http://www.c-span.org/Events/Energy-Secretary-Chu-Testifies-on-Solyndra-Loan/10737425577/

canopfor on November 18, 2011 at 6:30 AM

canopfor on March 1, 2012 at 2:14 PM

Well how’s about we, the taxpayers give you a grade on the billions you have wasted – F- , the same grade Obama and his whole administration is getting.

Amazingoly on March 1, 2012 at 2:14 PM

Chu: “There’s always room for improvement, maybe an A-.”

and the proper response from the congressman should have been: “You’re just effing with me. right?”

arnold ziffel on March 1, 2012 at 2:14 PM

Ruh roh, how can Chu get an A- when Dear Leader gets only a good solid B+ ?

petefrt on March 1, 2012 at 2:16 PM

To scale the room for improvement he allows himself think BB in a boxcar.

DanMan on March 1, 2012 at 2:17 PM

A minor point but Chu’s first name is spelled Steven not Stephen.

That being said, and I have no sympathy for an individual who can squander close to a billion dollars (often against the advice of those paid to give it), but having those who appear before Congressional hearings grade themselves is kind of lame.

There is no good answer to that question. But I’ve got to say that the race grading curve for Asians is apparently every bit as robust as the one used by Obama.

Happy Nomad on March 1, 2012 at 2:18 PM

He sits there and tells us he’s happy taking money out of our pockets to push his alternate energy programs and now this. Arrogant sob.

Kissmygrits on March 1, 2012 at 2:18 PM

He’s got a Nobel Prize – that should always be a huge warning sign…

CorporatePiggy on March 1, 2012 at 2:19 PM

Hot of Zee Press’s,oooh dis is good!!
***************************************

US Energy Secretary Steven Chu defends US efforts to curb gasoline prices at House hearing

Submitted 4 mins ago
http://www.breakingnews.com/
============================

Energy’s Chu Defends U.S. Efforts to Curb Gasoline Prices
Mar 1, 2012 1:25 PM ET
**********************

http://www.bloomberg.com/news/2012-03-01/energy-s-chu-defends-u-s-efforts-to-curb-rising-gasoline-prices.html

canopfor on March 1, 2012 at 2:22 PM

If I were one of those Senators ask Chu what grade his performance deserves when he replied an A-, I would have demanded to know exactly which alternative universe it was where his performance equaled an A-, and that he provide transportation to said universe so that the veracity of his claim could be independently verified.

SWalker on March 1, 2012 at 2:22 PM

If Coo-Coo Ka Chu gives himself an A- and obozo only gives himself a B+ does that mean obozo is no longer the smartest man ever?

Flange on March 1, 2012 at 2:23 PM

He’s one of those people that is probably really super book smart but can’t punch his way out of a wet paper bag.

Southgirl on March 1, 2012 at 2:24 PM

Uh oh. He gave himself a better grade than his boss’ “solid B+”. Someone’s got some ‘splainin to do.

batter on March 1, 2012 at 2:24 PM

and the breakthroughs that have occurred during this tenure

AND WHAT WOULD THEY BE? Come on Chu, LIST THEM!

Oh yeah – “We’ve doubled the speed with which taxpayer money gets shelled out to chosen companies, and they in turn increase the amount of money they donate to keep us in power.”

GarandFan on March 1, 2012 at 2:24 PM

What bell-curve is this a$$hat using!?

HomeoftheBrave on March 1, 2012 at 2:25 PM

He sits there and tells us he’s happy taking money out of our pockets to push his alternate energy programs and now this. Arrogant sob.

Kissmygrits on March 1, 2012 at 2:18 PM

It’s not that as much as the fact he likes it that gas prices are higher so that we Americans (who pay this bastard’s salary) will be forced toward alternative energy sources. This whole thought process that government needs to do harm to its citizens for their own good is a chilling reminder why this whole band of socialists need to be routed in November.

Happy Nomad on March 1, 2012 at 2:25 PM

But everybody gets an A. Can’t hurt their self-esteem, can we?

John Deaux on March 1, 2012 at 2:26 PM

Breaking News:

S&P announces plans to downgrade Chu, possibly to an “F.”

OhEssYouCowboys on March 1, 2012 at 2:30 PM

A good solar, wind, or biofuels project is one that is profitable without subsidies or aid of any kind. A nice capitalistic project, that contributes to our country.

Haven’t heard of any yet.
D-

tomg51 on March 1, 2012 at 2:30 PM

FUCHU

SirGawain on March 1, 2012 at 2:33 PM

It just blows my mind how bizarre this administration is. Orwellian doesn’t even begin to describe it.

frode on March 1, 2012 at 2:00 PM

What really blows my mind is that there are still people in America who vote for these crooks and willingly buy into all their garbage.

UltimateBob on March 1, 2012 at 2:37 PM

FUCHU

SirGawain on March 1, 2012 at 2:33 PM

FU, Man, Chu!

UltimateBob on March 1, 2012 at 2:38 PM

Well I would give myself a pretty good grade because if you look at what we’ve done, and what we’ve supported, and the breakthroughs that have occurred during this tenure, I think it speaks very well.

What breakthroughs? Looks to me like another “our intentions are good” based grade, actual results don’t matter.

LarryD on March 1, 2012 at 2:42 PM

You poor misguided peons misunderstand Chu.

He doesn’t adhere to some capitalistic standard of success; quite the opposite: he measures success by how much damage he does to the capitalist system.

To radical environmental nuts like Chu and the rest of the Obama Regime, the economy is the enemy. Economic growth causes us to use more energy, which they believe is harmful to the earth. Therefore the more they can do to permanently disable economic growth, the better their grade.

Misusing billions on “green” projects is always good to them, even if the projects fail completely, because that is money which could not be used to create growth, which they see as always evil.

So then, why does Chu add the “MINUS” to his self-appraisal? Well, your lights still come on when you throw the switch. Give him another four years, and he will work on that problem.

Adjoran on March 1, 2012 at 2:43 PM

The liberal narcissistic mantra:

I’m so awesome, I love myself, I can do no wrong…An A-! I’m so humble!

kirkill on March 1, 2012 at 2:44 PM

FU, Man, Chu!

UltimateBob on March 1, 2012 at 2:38 PM

Well played.

Flange on March 1, 2012 at 2:45 PM

Chu gotta be kiddin’ me…

honeybadger on March 1, 2012 at 2:48 PM

All Chu is doing is following the lessons taught in the liberal left’s classrooms using other peoples money for your own good intentions…

… The end results and accountability are never part of the curriculum.

He probably is embarrassed to admit he only deserves an A- when in his liberal heart he knows he hit it out of the park…

… There is no shame with these people, only the agenda.

Seven Percent Solution on March 1, 2012 at 2:52 PM

Chusing losers = A-

antipc on March 1, 2012 at 2:53 PM

I think he’s a product of the Me me me generation.
My students often think they deserve As.
They soon realize much of their work is substandard and adjust accordingly.
Mr Chu has obviously not been faced with criticizing failure.

Badger40 on March 1, 2012 at 2:58 PM

Hatch Chu!

And you’ll get a lame duck. Very lame.

NoDonkey on March 1, 2012 at 2:59 PM

What really blows my mind is that there are still people in America who vote for these crooks and willingly buy into all their garbage.

UltimateBob on March 1, 2012 at 2:37 PM

He’s got a nice suit, an important title and all the cool kids like him.

What else do you need?

Competence is for old fuddy-duddies.

NoDonkey on March 1, 2012 at 3:01 PM

Don’t you people know that everyones a winner in the world of a freaking liberal, all you have to do is show up and you get the trophy or the grade.

doublee on March 1, 2012 at 3:01 PM

That is one stupid SOB….. not just ignorant…. blatantly stupid. Ignorance can be forgiven, but not stupidity.

ultracon on March 1, 2012 at 3:02 PM

I’d like to send him to Mars — permanently — to look for the American flag that Sheila Jackson-Lee swears Neil Armstrong planted there in 1969. He can paint all the roofs white on the Red Planet for all that I care. Just leave.

I loathe the cretin.

Resist We Much on March 1, 2012 at 3:04 PM

Don’t Chu up MY money!!! Would he invest his OWN money in these losers? Or if the Chu $#i+s, share it?

I’ve got a job for Chu. Let him test-drive solar-powered cars on Mars for Newt’s colony, and we’ll save $$$ on the space suit.

Steve Z on March 1, 2012 at 3:05 PM

What world do these people live in?

Fuquay Steve on March 1, 2012 at 1:59 PM

Ivy League Schools?
…and what is it about Nobel Prizes?..Al Gore, JugEars and Chew?
No clue on what is going on what-so-ever! I’m at a loss as to how these products get these prizes!

KOOLAID2 on March 1, 2012 at 3:08 PM

I’d give him a z minus, only because there’s nothing lower.

rbj on March 1, 2012 at 2:04 PM

I would like to try to find a lower grade. It would be a numerical grade. How about infinity-?

Mirimichi on March 1, 2012 at 3:12 PM

Yet another faculty member from the University of California who is a strong proponent of grade inflation… color me unsurprised.

ya2daup on March 1, 2012 at 3:15 PM

He gets an ‘A’ for arrogance, a requisite for work in the Oministration.

LizardLips on March 1, 2012 at 3:23 PM

You deserve to be charged and convicted of treason. You and your moronic Marxist regime are hurting every citizen in this country with your stupid energy policy.You need to be fired and indicted, convicted and punished

scboy on March 1, 2012 at 3:39 PM

Representative Broun would have been better served to have waved a copy of the Constitution and asked, “Which part of this document do you think allows you to spend money like a drunken frat boy?”

jayhawkingeorgia on March 1, 2012 at 3:46 PM

Heard clips of this schmuck saying something about how he’s helped ease the pain of rising gas prices by instituting increased fuel efficiency standards. WTF?!?!? You’ve driven up the cost of a new vehicle which I need to go purchase to help me deal with more expensive gas prices?

Then he went on to say they expect that new battery technology which could go a couple hundred miles on a charge would be testing in the next 4 to 5 years was another way he helped deal ease that pain. What a tool. If they’re being tested in 4 years, when does he expect they’ll actually get to the using stage?

Lost in Jersey on March 1, 2012 at 3:49 PM

Obama has said that even he in all his most magnificent brilliance did not realize how bad the economy was when he took office and yet he and his administration continue to throw billions of our money away and have the gall to congratulate themselves for doing it. I don’t get it and I never ever will get it how people can still support this guy and his criminal administration.

oregano on March 1, 2012 at 3:58 PM

He should come to dinner at my house. I’ll give him an Effen A…Plus.

Mudhog on March 1, 2012 at 4:48 PM

Grade Inflation.

“When they measure themselves by one another and compare themselves with one another, they are without understanding.” (2Cor. 10:12)

Harrell on March 1, 2012 at 4:54 PM

I always wondered how my brother made it through college, he must have had a bunch of professors named Chu…

burserker on March 1, 2012 at 5:18 PM

I give Chu a zero on being truthful.

BMF on March 1, 2012 at 5:19 PM

Ah the left! You are rewarded when you fail and you are punished when you succeed.

So far, Chu hasn’t been punished.

BMF on March 1, 2012 at 5:27 PM

A minus, FFS.

Hilarious.

Tim_CA on March 1, 2012 at 5:54 PM

I have suggested this before and it would save us a lot of trouble and money: we need a law that requires all of these “investments” to be personally guarantied by every member of Congress that votes in favor of them, the President, and the top ten officials in the relevant department. This guaranty would not be dischargeable in bankruptcy and would also be binding on their children (hey, my kids are going to have to pay for this mess, so should theirs). Chu, you idiot, if these are such great investments, put YOUR money where your mouth is.

Over50 on March 2, 2012 at 10:15 AM

Keep in mind, in the lib world everyone gets a trophy just for showing up….

However, if I was grading him – F minus.

dentarthurdent on March 2, 2012 at 11:18 AM