+100

The Washington Post, suggests that then-OMB Director Jack Lew let the refinancing move forward without intervening, even though some OMB analysts thought a refinancing plan that favored private investors might violate the law.

Since when has Obama and Company worried about the law? At least NO ONE DIED, this time.

Bear in mind, too, that the receivers didn’t just dump this for the first party to show an interest. According to Reuters, Seagate won a bidding war that included companies from the US, China, and Europe. This was the best competitive price for the facility — only 30% of what the Obama administration gave Solyndra to build it in the first place. Perhaps Congress should dig further into the construction process at Solyndra to see why a facility built with $300 million of taxpayer money only had $90 million of value, because at first blush, it looks like a lot of money went elsewhere than the facility.

I used to work for a US Bankruptcy Trustee and I think you are on the wrong track here. A Trustee/receiver is always going to want to have competitive bidding/auction on any property that is part of the bankruptcy to get the highest price possible if he can. However, the bidders are all aware that they just need to hit that magic number that the Trustee is willing to take given the cost of running the bankruptcy, etc — that price isn’t necessarily or even usually “fair market value” because it isn’t the same as a private sale. In fact, 30 cents on the dollar in a bankruptcy proceeding is pretty dang good.

Note also that a lot of banks are holding properties like this hoping for the market to rebound. I assume this sale is forced by the bankruptcy.

Portia46 on August 24, 2012 at 4:54 PM

“..the quality of mercy is not strained; it droppeth as the gentle rain from heaven..”

You’re kinda quick to throw in the towel there, aren’t you?

Bitter Clinger on August 24, 2012 at 3:57 PM

No. Not at all. I’ll keep on fighting. I’ll send money; I’ll volunteer even in Blue State Maryland, but I’m not living in a fantasy land. We lose MO, our razor-thin chance of gaining control of the Senate is gone. This Todd I’m More Important than God Akin is an albatross that will confirm to the uninformed majority that Romney/Ryan will return us to the 1950′s. In razor-thin margin cases, the gullable matter.

He will announce he’s staying in the Missouri Senate race. Why does he need to call a press conference over this? We know he is a moron already.

bayview on August 24, 2012 at 4:11 PM

Like that Kardashian person, he thinks all publicity is good. Maybe when he loses, he’ll get his own reality show. He can come on right after “Here Comes Honey Boo Boo”.

but OBOZO’s crony capitalist pals walk way will MILLION (less the 10% kickback they must give to the OBOZO campaign.)

TeaPartyNation on August 24, 2012 at 4:32 PM

It’s not a kickback, it’s a tithe.

…but OBOZO’s crony capitalist pals walk way will MILLION (less the 10% kickback they must give to the OBOZO campaign.)

Timing is everything. /s

Ooooh, it was a really really bad thing students were/are taught, and when you look at it through the lens of 2012, seems to be a minor event, really.

Not to say it was OK for Harding’s cronies to make a bunch of money on the backs of taxpayers, but when you look at it today, and then look at Solyndra and a host of other “green” energy programs bought and paid for by taxpayers who had no say whatsoever in the taxpayer money handed out by Obama and his cronies…maybe it is time to re-write our high school history books to show the absolute corruption at all levels of the Obama Administration.

Pay to play, the rule of the day.

Donate to Team Obama and you can win big, who needs the Power Ball, when you can get a huge return for a few dollars handed over to the Boy King and his never ending campaign?

In normal times, when we had a real Justice Department, and federal prosecutors who actually did their job, heads would be rolling, all the way up to 1600 Pennsylvania Avenue.

But, today?

Barely a whisper.

It’d be racist or something to try to bring all of those involved in Obama’s “green energy” Ponzi Scheme to justice.

And there are millions of Americans who will still vote for Obama in November?

Can they really be that stupid? Or are they essentially as corrupt as Team Obama and are looking to reap the benefits of Obama’s largesse should he be re-elected? Benefits paid for by working, taxpaying citizens who again have no say in who gets what from Team Obama, at our expense?