Solyndra CEO in 2009: We’re getting help from … the “Bank of Washington”

posted at 7:06 pm on August 2, 2012 by Allahpundit

Yes, really.

Anyone else need a loan from a bank that’s $15 trillion in the hole?

You’ll be pleased to know that this sentiment was reciprocated inside the White House, anticipating The One’s “you didn’t build that” messaging moment of glory:

White House Aide Aditya Kumar in an e-mail to deputy White House communications director Dan Pfeiffer and other White House staffers:

“Dan: Some background. This is a Recovery Act Grant. Details: Will be first DoE Loan Guarantee since 1980s (since the geothermal grants in the 80s, I believe). Total amount will be $535M (with a $107M govt subsidy). This is a solar panel manufacturing company in Fremont, CA.

Story is two things: JOBS: Solyndra estimates this will create thousands of jobs (over 3,000K was on estimate I saw but not sure how dated that was);

When Government Plays a Part, It can Bring the Private Sector Along: Solyndra has secured over large amounts in private capital which is a story in itself.”

Remember, the big irony of Solyndra’s collapse was that it wasn’t just any green-energy project. It was a flagship of what Jim DeMint famously described as Obama’s “venture socialism” approach to green businesses. O himself famously visited the plant and Biden recorded a video address for the groundbreaking of the new plant. The significance of this e-mail is how even White House aides were treating it as a model that would hopefully justify further expanding federal largesse to favored companies. Government in the lead, the private sector being “brought along.” That’s a nifty, efficient description of Obamanomics. With predictable results.

Ed posted this morning on the WaPo story about alarm bells ringing at OMB — and being ignored by the Energy Department — over the Solyndra restructuring, so read that if you haven’t yet. One thing he didn’t know yet at the time of that post: There’s also an e-mail in the new batch in which the same aide responsible for the excerpt above wrote, “Feels like Rahm wants this too (barring any concerns) — POTUS involvement was Rahm’s idea.” That’s not the first time Emanuel’s name has popped up in Solyndra-related e-mails; he’s said that his memory of the project is hazy, but maybe it’s time for a House committee to bring him in and try to jog it, specifically with respect to whether he was in contact with any of the Obama campaign bundlers connected with Solyndra. Let’s find out the full extent of “Chicago values.”


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Raped the taxpayers…and didn’t kiss them!

KOOLAID2 on August 2, 2012 at 7:09 PM

When Government Plays a Part, It can Bring the Private Sector Along: Solyndra has secured over large amounts in private capital which is a story in itself.”

…the private sector is doing fine!
.
.
…our plan worked!

KOOLAID2 on August 2, 2012 at 7:10 PM

When Government Plays a Part, It can Bring the Private Sector Along:

Such condecending crap! “Duuuuuuh! Will da gubmint halp me make my biznis go good?!”

“Why yes, common citizen, we can! Let us do it for you since you don`t do jack AND squat!” :)

ThePrez on August 2, 2012 at 7:11 PM

Rahm’s kinda busy right now. Gunfights in Chicago streets, now this darned gay marriage thing. Maybe later.

a capella on August 2, 2012 at 7:12 PM

Anyone else need a loan from a bank that’s $15 trillion in the hole?

Sure, as long as I don’t have to pay it back.

forest on August 2, 2012 at 7:13 PM

Crony capitalism on our dime. How about those 3,000 jobs?

Philly on August 2, 2012 at 7:13 PM

Hm, juicy tidbit about Rahm I know Nothing about Solyndra Emanuel.

the new aesthetic on August 2, 2012 at 7:13 PM

President Short Bus at his finest.

Flange on August 2, 2012 at 7:14 PM

But you can’t have a CFA in chicago, rahm said so?
L

letget on August 2, 2012 at 7:17 PM

When is anyone going to JAIL over this white collar crime ??

KenInIL on August 2, 2012 at 7:18 PM

Mr. Issa pick up the white paging phone.

hillsoftx on August 2, 2012 at 7:18 PM

It was a flagship of what Jim DeMint famously described as Obama’s “venture socialism” approach to green businesses.

Titanic had a flag didn’t she?????

/questions

ted c on August 2, 2012 at 7:18 PM

Government in the lead, the private sector being “brought along.” That’s a nifty, efficient description of Obamanomics. With predictable results.

Have you heard about the new Chevy Volt Ville near Austin, TX??? same thinking.

ted c on August 2, 2012 at 7:19 PM

he’s said that his memory of the project is hazy, but maybe it’s time for a House committee to bring him in and try to jog it, specifically with respect to whether he was in contact with any of the Obama campaign bundlers connected with Solyndra. Let’s find out the full extent of “Chicago values.”

Tiny Dancer in the catbird seat?

you betcha!

ted c on August 2, 2012 at 7:20 PM

From Geraghty’s post:

E-mail from Solyndra investor Brad Jones to top Obama economic adviser Larry Summers:

“One of our solar companies with revenues of less than $100 million (and not yet profitable) received a government loan of $580 million; while that is good for us, I can’t imagine it’s a good way for the government to use taxpayer money (I’d prefer my opinion about that specific company to be between us). Every administration seems to feel it knows better than the private markets how to allocate capital, and I’ve just never seen that be true.

So, did Summers leave for the stated reasons, or was he afraid to be embroiled in a scandal? Perhaps one of many….

Cody1991 on August 2, 2012 at 7:22 PM

When Government Plays a Part, It can Bring the Private Sector Along

Especially if “along” is “down”.

malclave on August 2, 2012 at 7:23 PM

Future Shock

This is a rotten remark but they really should have called Bane to come in and see if this goofy idea could produce feasible financial returns.

Poor President Obama. The whole world is ruled by the profit motive and he is almost clueless about it.

It is even worse that he thinks of exploitation and theft when he hears the word.

IlikedAUH2O on August 2, 2012 at 7:26 PM

Allahpundit’s photo choice with this piece is inspired.

WHO had the president’s ear…. WHEN…. and TO WHAT END?

Since its become painfully apparent that preferential treatment was used in directing where taxpayer dollars have been spent, we should not only be asking theses questions, we should be demanding the answers.

thatsafactjack on August 2, 2012 at 7:27 PM

Let’s find out the full extent of “Chicago values.”

Obviously Soylyndra had Chicago Values.

ghostwalker1 on August 2, 2012 at 7:29 PM

The only jobs that should come out of this Solyndra scam is a bunch of prison guards.

docflash on August 2, 2012 at 7:30 PM

To quote Stephanie Cutter, “Ugh”

White House On Solyndra Failure: “Ugh”

Emails between White House communications director Dan Pfeiffer and then-Deputy Senior Advisor Stephanie Cutter reveal concern, frustration as former poster-child for clean energy investment failed.

Flora Duh on August 2, 2012 at 7:33 PM

It would be Christmas, my birthday and Mothers Day, if Rahm were to get busted. for something. anything. everything.

BettyRuth on August 2, 2012 at 7:42 PM

I Wish I could draw.

This whole story cries out for a cartoon. I can just imagine a scene with a character labeled “private Sector” clinging for life to some branch while tied by a rope to Obama. Obama is dangling over a cliff labeled “Economic Ruin” with feet planted against to wall so that he sticks out Horizontally while pulling on the rope and pointing at the “money Hole”. Have him saying: I want to bring you along!

Done right you could rotate it 90 degrees and use some subtle background images like clouds or water to let people know it isn’t Obama standing up straight and trying to pull the guy up. caption it Perspective or Point of view.

OBQuiet on August 2, 2012 at 7:46 PM

This is some DYNO-MITE stuff. The ads write themselves, and I’m sure Team Romney and the PACS will be on it.

TXUS on August 2, 2012 at 7:48 PM

And remember this Chris Gornet, Brian Harrison, Bill Stover and the rest of the management people at Solyndra are driving in luxury cars and living in homes far more expensive and larger then you. Yet they haven’t done anything to support themselves in years.

lowandslow on August 2, 2012 at 8:13 PM

WHO had the president’s ear…. WHEN…. and TO WHAT END?

thatsafactjack on August 2, 2012 at 7:27 PM

If someone could harness just one of his ears, we would be in wind power for a decade. Guy was born to serve, see, he’s just deployed in the wrong capacity.

RushBaby on August 2, 2012 at 8:17 PM

And once Obama is out of office, all of these scandals will be forgotten. It’s the way Washington works.

Ward Cleaver on August 2, 2012 at 8:29 PM

It would be Christmas, my birthday and Mothers Day, if Rahm were to get busted. for something. anything. everything.

Rahm and Axelrod and especially that ugly little dominatrix Valerie Jarrett.

natasha333 on August 2, 2012 at 8:45 PM

You can bet this bank would know better to make such loans to a bad credit risk.

J-Paul00 on August 2, 2012 at 8:46 PM

As a taxpayer, this sh*t makes my blood boil.

Do these feckless IDIOTS not realize that its not monopoly money that they’re playing around with?

FFS someone get some adults in the room (Oval office) to say some adult things like “people, this is the dumbest idea that anyone here has ever thought of, and that is scary since we all work in government.”

Defenestratus on August 2, 2012 at 9:28 PM