Despite Solyndra "Scandal", DOE loans turn HUGE PROFITS!!

[Cross]

You gotta laugh at the use of the word "huge". The DOE loaned out 34.2 billion. High profile loans defaulted around 500 million. I briefly surfed the claim of the DOE being in the black with interest payments but there is absolutely no details. Apparently it's wishful thinking by government hired economic voodoo experts.

and they don't talk about the 18 billion they just gave away, just in 2013....

 

[Old Rocks]

Nutter lies again.
They made $30M on 34.2B in "investments." That's pitiful. Imagine what private investors with that money and no political agenda could do.

Silly fuck, the idea was to jump start technology here in the states. That fact that the DOE did that, and did slightly better than breaking even is a real feather in their cap.

Of course, you "Conservative" assholes are still yelling at the cars that pass, "Get a horse". LOL

 

[AVG-JOE]

Nutter lies again.
They made $30M on 34.2B in "investments." That's pitiful. Imagine what private investors with that money and no political agenda could do.

Private investors with no political agenda?

Good one!!

`​

 

[saveliberty]

Apparently Olivia and her English degree are willing to ignore the rate of interest the government paid to get the principal.

 

[The Rabbi]

Nutter lies again.
They made $30M on 34.2B in "investments." That's pitiful. Imagine what private investors with that money and no political agenda could do.

Would they have made the loans in the first place? You can't get something from nothing.

Doesnt matter.
Government has no business making loans to anyone. That's the job of the private sector. Government only distorts the marketplace by channeling capital in places it wouldn't normally go.
We're in a growing (slightly) economy so no surprise the loans are performing. Wait until the downturn comes and we see delingquencies rise.

 

[saveliberty]

The government also borrowed an additional $10B to cover possible losses. That money was borrowed by the government as well. Interest paid now exceeds interest received. It was a LOSS.

 

[Two Thumbs]

did they account for the loss of money that went into collecting it, giving it away and collecting it again?

did it account for the loss of non-green jobs and taxes?

probably not

 

[whitehall]

It's no secret that the extravagant taxpayer funded experiments into alternate energy have been almost 100% failures. It's no secret that the federal government would try a last ditch effort to convince the low information left that alternate energy is still viable when we can see it is not. Energy prices are coming down because the US is becoming independent of foreign supplied fossil fuel.

 

[Avorysuds]

Trying to spin this as good is like spinning Bush going into Iraq as good... Or spinning that now Obama going into Iraq is good....

 

[Listening]

Any CEO that only returned 30 million on 32 Billion would be out in a heartbeat. His golden parachute would be ripped right off his back.

 

[OnePercenter]

Nutter lies again.
They made $30M on 34.2B in "investments." That's pitiful. Imagine what private investors with that money and no political agenda could do.

Do the math again moron.

 

[The Rabbi]

Nutter lies again.
They made $30M on 34.2B in "investments." That's pitiful. Imagine what private investors with that money and no political agenda could do.

Do the math again moron.

Idiot, it's in the article itself.

On November 13, NPR reported that the DOE loan program, designed to "accelerate the domestic commercial deployment of innovative and advanced clean energy technologies," is now turning a profit exceeding $30 million after collecting $810 million in interest payments.]

 

[Skull Pilot]

Wait a minute.

You cannot count collected interest as profit.

First you need to tell me how much it costs this department to run, it's other expenses etc.

The problem is you can't do that because all the operating expenses are paid for by the tax payers.

Let me ask this: If you owned a business and a third party was paying all your expenses wouldn't you show a "profit" too?

 

[The Rabbi]

Wait a minute.

You cannot count collected interest as profit.

First you need to tell me how much it costs this department to run, it's other expenses etc.

The problem is you can't do that because all the operating expenses are paid for by the tax payers.

Let me ask this: If you owned a business and a third party was paying all your expenses wouldn't you show a "profit" too?

The "profit" appears to be 30M but that's gross. As you point out, the administrative costs could eat that up.
This is another pitiful piece of shit crony capitalist program put out by Dems. Dont the libs on this board complain about corporations getting sweet deals from gov't? Why arent they complaining about this?

 

[Skull Pilot]

Wait a minute.

You cannot count collected interest as profit.

First you need to tell me how much it costs this department to run, it's other expenses etc.

The problem is you can't do that because all the operating expenses are paid for by the tax payers.

Let me ask this: If you owned a business and a third party was paying all your expenses wouldn't you show a "profit" too?

The "profit" appears to be 30M but that's gross. As you point out, the administrative costs could eat that up.
This is another pitiful piece of shit crony capitalist program put out by Dems. Dont the libs on this board complain about corporations getting sweet deals from gov't? Why arent they complaining about this?

It's funny that all these idiots who say you can't run government like a business still want to compare government revenue to profits.

It's an apples to orangutans comparison

 

[hazlnut]

Nutter lies again.
They made $30M on 34.2B in "investments." That's pitiful. Imagine what private investors with that money and no political agenda could do.

Try actually reading the story before commenting.

You'll come off sounding less moronic.

 

[Dont Taz Me Bro]

Isn't it astonishing how the OP and other far left nut jobs suddenly love corporate welfare when a Democrat is in the White House?

 

[The Rabbi]

Nutter lies again.
They made $30M on 34.2B in "investments." That's pitiful. Imagine what private investors with that money and no political agenda could do.

Try actually reading the story before commenting.

You'll come off sounding less moronic.

Apparently you are the one with readng deficits.

 

[OnePercenter]

Wait a minute.

You cannot count collected interest as profit.

First you need to tell me how much it costs this department to run, it's other expenses etc.

The problem is you can't do that because all the operating expenses are paid for by the tax payers.

Let me ask this: If you owned a business and a third party was paying all your expenses wouldn't you show a "profit" too?

Collected interest is profit if you're the one that made the loan.

 

[OnePercenter]

It's funny that all these idiots who say you can't run government like a business still want to compare government revenue to profits.

It's an apples to orangutans comparison

Spin away Koch-rimmer, spin away!