Solyndra- Obama's new nightmare.

[Moonglow]

Testifying during a House Energy and Commerce Committee hearing on Solyndra LLC in Washington, D.C., Jonathan Silver, executive director of the Department of Energy Loans Programs Office, said the upstart's loan application timeline had been set long before President Obama and his team took office.

NewsRoomAmerica.com - Obama Officials Blame Bush Administration in Solyndra Hearing: Report

But it was shelved by DOE to allow obama to announce it.

Sorry, but the Bush admin. decided NOT to finance Solyndra:

But emails released by the House committee show that the relevant credit committee decided "not to engage in further discussions with Solyndra" in the final days of the Bush administration.

After the change in administration, officials restarted the loan review process for Solyndra.

Read more: Treasury Joins FBI, Congress In Investigating Stimulus Loan To Failed Solar Panel Company | Fox News

I]The loan was rushed through for a photo-op with Biden.....:[/I]eusa_whistle: ( how impressive....)

I am not trying to blame Bush I merely posted the facts on the time line of the loan. Many are crying cronyism which does not jibe with the time line of the request for the loan

 

[Conservative]

Oh no you didn't...

 

[Moonglow]

if that were true, why is china going full steam on green energy projects?

Even more evidence that the Green movement is a total scam....

They are also going full steam on offshore drilling and other fossil fuel extraction. I have no problem with market-driven initiatives, the Green initiatives being pushed are politically driven, not market-driven. Hence the need for 1/2 Billion $$ + in taxpayer monies being poured into this stuff.

then the Chinese investment in green energy is politically motivated also?

 

[Conservative]

So, in affect...it IS Bush's fault.

If the Bush administration had approved the loan, then this would not be Obama's nightmare.

Dam that Bush administration. They have made Obamas job so much more difficult.

Only the Obama adminsitration is blamng Bush.
The idea that Obama okayed it because of donor by the owners is illogical due to the early request for the loan during the Bush adminstration

Not at all.

Regardless of when the original request came though, it is not unrealistic to think that Solyndra would say 'Gee, Barry, we gave you all this money... can you help us get this loan process going again? It kinda got stuck under Dubbya, but since we're all palsy now.....'

 

[Jarhead]

if that were true, why is china going full steam on green energy projects?

They are also going full steam on offshore drilling and other fossil fuel extraction. I have no problem with market-driven initiatives, the Green initiatives being pushed are politically driven, not market-driven. Hence the need for 1/2 Billion $$ + in taxpayer monies being poured into this stuff.

then the Chinese investment in green energy is politically motivated also?

I believe I answered youyr question already.

The need for "green" is politically motivated....The Chinese have the money to capitalize on it for profit.

You will see....they will sell their products to the US government......

 

[Moonglow]

So, in affect...it IS Bush's fault.

If the Bush administration had approved the loan, then this would not be Obama's nightmare.

Dam that Bush administration. They have made Obamas job so much more difficult.

Only the Obama adminsitration is blamng Bush.
The idea that Obama okayed it because of donor by the owners is illogical due to the early request for the loan during the Bush adminstration

Not at all.

Regardless of when the original request came though, it is not unrealistic to think that Solyndra would say 'Gee, Barry, we gave you all this money... can you help us get this loan process going again? It kinda got stuck under Dubbya, but since we're all palsy now.....'

did the donate to Bush?

 

[Moonglow]

They are also going full steam on offshore drilling and other fossil fuel extraction. I have no problem with market-driven initiatives, the Green initiatives being pushed are politically driven, not market-driven. Hence the need for 1/2 Billion $$ + in taxpayer monies being poured into this stuff.

then the Chinese investment in green energy is politically motivated also?

I believe I answered youyr question already.

The need for "green" is politically motivated....The Chinese have the money to capitalize on it for profit.

You will see....they will sell their products to the US government......

they plan on selling to the entire world

 

[Jarhead]

NewsRoomAmerica.com - Obama Officials Blame Bush Administration in Solyndra Hearing: Report

But it was shelved by DOE to allow obama to announce it.

Sorry, but the Bush admin. decided NOT to finance Solyndra:

But emails released by the House committee show that the relevant credit committee decided "not to engage in further discussions with Solyndra" in the final days of the Bush administration.

After the change in administration, officials restarted the loan review process for Solyndra.

Read more: Treasury Joins FBI, Congress In Investigating Stimulus Loan To Failed Solar Panel Company | Fox News

I]The loan was rushed through for a photo-op with Biden.....:[/I]eusa_whistle: ( how impressive....)

I am not trying to blame Bush I merely posted the facts on the time line of the loan. Many are crying cronyism which does not jibe with the time line of the request for the loan

No one is saying cronyism is what prompted Solyndra to request the loan.

The need for operating capital is what prompted Solyndra to request the loan.

However, it APPEARS that cronyism was involved in approving the loan seeing as they were not credit worthy of the loan.

 

[Jarhead]

Only the Obama adminsitration is blamng Bush.
The idea that Obama okayed it because of donor by the owners is illogical due to the early request for the loan during the Bush adminstration

Not at all.

Regardless of when the original request came though, it is not unrealistic to think that Solyndra would say 'Gee, Barry, we gave you all this money... can you help us get this loan process going again? It kinda got stuck under Dubbya, but since we're all palsy now.....'

did the donate to Bush?

I dont know but I tend to doubt it seeing as they did not exist during any Bush campaign pushes.

 

[boedicca]

The Obama Admin made the decision to grant the loan. That's a fact that the moonbats are desperately trying to spin away.

 

[Jarhead]

then the Chinese investment in green energy is politically motivated also?

I believe I answered youyr question already.

The need for "green" is politically motivated....The Chinese have the money to capitalize on it for profit.

You will see....they will sell their products to the US government......

they plan on selling to the entire world

Yes...but selling to the private sector in the US will fall flat.
It will be the government that will likely make advanced purchases.

 

[Jarhead]

The Obama Admin made the decision to grant the loan. That's a fact that the moonbats are desperately trying to spin away.

when the loan was requested is irrelevant.

and to be frank, even if it was approved by the Bush administration, it is still irrelevant.

Loans are based on when they are funded as the credit worthiness of a borrower is constantly analyzed to the last minute before it is funded.

It all has to do with who approved the FUNDING of the loan.

 

[edthecynic]

Well obviously you didn't give to Barry's campaign and you aren't in the solar panel, green, movment.

BTW Kaiser and his investors loaned Solydra 75 million with a proviso that they be first in line in case of bankrupcy.

We taxpayers ,of course, will take the back seat. Rather like the investors at GM and Chrysler. You remember. The folks who got hosed.

Actually that happened in 2011 after the GOP took over the House and all the oversight committees. Among the investors moved to the front by the GOP were the Walton family, major GOP contributors, through their Madrone Capital Partners investment firm.

Timeline from the WaPp:

● December 2006: Company applies for a government-guaranteed loan under the Bush administration.

● March 2009: Energy Secretary Steven Chu announces $535 million conditional loan guarantee to Solyndra, the first for Obama administration.

● Late August 2009: White House asks Office of Management and Budget whether it can “speed along” final approval of the Solyndra loan for a scheduled press event with Vice President Biden.

● Sept. 1, 2009: OMB gives final approval.

● Sept. 4, 2009: Biden and Chu announce final approval at Solyndra groundbreaking.

● March 2010: Auditors raise concerns about whether Solyndra can continue as “going concern.”

● May 2010: President Obama visits Solyndra, touts it as a model.

● January 2011: Solyndra executives confide to administration that they are on the brink of liquidation.

● February 2011: Energy Department helps Solyndra with refinancing; investors put in an additional $75 million.

● Aug. 31, 2011: Solyndra files for bankruptcy, closes its plant, lays off 1,100 people.

A history of Solyndra - The Washington Post


The DOE did the refinancing, not Congress, bub - and Solyndra started lining up the refi with the Obama Administration even after PWC published a "going concern" opinion.

And in 2011 House Energy and Commerce Committee Chairman Fred Upton (R-Mich.) had oversight of the DOE!

 

[boedicca]

Actually that happened in 2011 after the GOP took over the House and all the oversight committees. Among the investors moved to the front by the GOP were the Walton family, major GOP contributors, through their Madrone Capital Partners investment firm.

Timeline from the WaPp:

● December 2006: Company applies for a government-guaranteed loan under the Bush administration.

● March 2009: Energy Secretary Steven Chu announces $535 million conditional loan guarantee to Solyndra, the first for Obama administration.

● Late August 2009: White House asks Office of Management and Budget whether it can “speed along” final approval of the Solyndra loan for a scheduled press event with Vice President Biden.

● Sept. 1, 2009: OMB gives final approval.

● Sept. 4, 2009: Biden and Chu announce final approval at Solyndra groundbreaking.

● March 2010: Auditors raise concerns about whether Solyndra can continue as “going concern.”

● May 2010: President Obama visits Solyndra, touts it as a model.

● January 2011: Solyndra executives confide to administration that they are on the brink of liquidation.

● February 2011: Energy Department helps Solyndra with refinancing; investors put in an additional $75 million.

● Aug. 31, 2011: Solyndra files for bankruptcy, closes its plant, lays off 1,100 people.

A history of Solyndra - The Washington Post


The DOE did the refinancing, not Congress, bub - and Solyndra started lining up the refi with the Obama Administration even after PWC published a "going concern" opinion.

And in 2011 House Energy and Commerce Committee Chairman Fred Upton (R-Mich.) had oversight of the DOE!

The Obama Managed DOE has a long pattern of subverting Congress. Congress refused to pass Cap & Trade, so it is doing so via regulation. Unless you have any evidence that this loan was submitted prior to approval for Congressional sign off, you are just playing with smoke and mirrors...and a time machine. The loans were made in 2009, not 2011.

 

[saveliberty]

Most credible banks will check your credit immediately before loan close. They look for any activity just prior, which is why many times you will hear it is not a good idea to make other credit purchases near a house close.

 

[edthecynic]

With all due respect, LL? Your view that all those high level White House staffers aren't Obama "cronies" is rather laughable. This whole thing is about as blatant an example of crony capitalism as you could possibly come up with. In return for $70,000 to $100,000 in campaign contributions, Kaiser got loan guarantees of half a billion dollars for a company that financial analysts inside the Obama Administration were waving red flags on.

Companies that go bankrupt generally "do" still have assets. Unfortunately we were put at the end of the line to receive any of those assets because of the way the loan was structured...part of the "deal" that Kaiser worked out with this White House. We won't be getting diddly.

except it wasn't only Kaiser who the GOP, who had taken over the oversight committees in 2011, moved ahead of the taxpayers. The Walton family through their Madrone Capital Partners investment firm were part of the same deal. The Waltons contribute MILLIONS to the GOP.

Are you trying to say that it was the GOP that did this? Sorry, Ed but you've lost me with that one. The Bush Administration looked at Solyndra...didn't like the numbers and wouldn't give them a loan guarantee. That was happening two weeks before Obama took office. It was Obama that made Solyndra his "poster child" for green energy jobs. Kaiser was wearing out a path into the White House to see Obama's people not Bush's. Bush's people had already said no...which is what Obama's people SHOULD have done. Unfortunately for us...anything with "Green" in front of it is irresistible to Barry.

That is pure BULLSHIT!

The BUSH administration LOVED the loan and tried to get it approved before Obama took office. It was non BUSH administration people on the DOE credit committee who said NO to the BUSH administration loan request.

Just like the killing of Osama, the BUSH administration is trying to take credit for other people's work.

 

[ClosedCaption]

I dont get the issue here. A company got a loan and failed! Whoop de do..It happens all of the time. Remember those banks that got loans and paid their CEO's huge bonuses then failed.

Remember how the right wing attacked them? Yeah, me neither.

 

[edthecynic]

Timeline from the WaPp:

● December 2006: Company applies for a government-guaranteed loan under the Bush administration.

● March 2009: Energy Secretary Steven Chu announces $535 million conditional loan guarantee to Solyndra, the first for Obama administration.

● Late August 2009: White House asks Office of Management and Budget whether it can “speed along” final approval of the Solyndra loan for a scheduled press event with Vice President Biden.

● Sept. 1, 2009: OMB gives final approval.

● Sept. 4, 2009: Biden and Chu announce final approval at Solyndra groundbreaking.

● March 2010: Auditors raise concerns about whether Solyndra can continue as “going concern.”

● May 2010: President Obama visits Solyndra, touts it as a model.

● January 2011: Solyndra executives confide to administration that they are on the brink of liquidation.

● February 2011: Energy Department helps Solyndra with refinancing; investors put in an additional $75 million.

● Aug. 31, 2011: Solyndra files for bankruptcy, closes its plant, lays off 1,100 people.

A history of Solyndra - The Washington Post


The DOE did the refinancing, not Congress, bub - and Solyndra started lining up the refi with the Obama Administration even after PWC published a "going concern" opinion.

And in 2011 House Energy and Commerce Committee Chairman Fred Upton (R-Mich.) had oversight of the DOE!

The Obama Managed DOE has a long pattern of subverting Congress. Congress refused to pass Cap & Trade, so it is doing so via regulation. Unless you have any evidence that this loan was submitted prior to approval for Congressional sign off, you are just playing with smoke and mirrors...and a time machine. The loans were made in 2009, not 2011.

But putting private investors ahead of taxpayers happened in 2011 under the oversight of the GOP.

 

[Zander]

This really is a perfect example of Crony Capitalism. The Obamites loaned taxpayer money to a company (that everyone knew would fail) simply because it fit their narrative of "Green Jobs". They make a product that sells for less than it costs to make! Maybe in a liberal utopia that plan works? Here in the real world, nobody would lend these people a dime. Obama and his team are economic nincompoops.

 

[GHook93]

I heard on the radio that it cost this company $6 to make the product yet they sold it for $3!!! Only a liberal could like that business model!