Another Obama $535 Million Bet, Gone With The Wind

Discussion in 'Economy' started by bitterlyclingin, Sep 2, 2011.

  1. bitterlyclingin
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    bitterlyclingin Silver Member

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    (More telling tales from this unvetted president. Aparently one of Mr Obama's bundlers was a heavy Solyndra investor. Naturally, in the Chicago way, Obama had to pay his supporter back after the election. The result: 535 million taxpayor dollars going to money heaven, bye bye birdie, bye bye. Sort of like the futile spur of the moment Oslo trip he took seconds after being sworn in as president trying to get the Olympic Games for Chicago)

    "Most poker players know that before going all in on a hand, it’s best to check your hole cards first. Barack Obama went all in on Solyndra, a solar-power technology company that Obama himself visited and heralded as an example of how his green-jobs stimulus would create “countless jobs” in the US. Here he is in May 2010, justifying the $535 million bet he put on Solyndra:"


    Obamateurism of the Day « Hot Air
     
  2. annesmith
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    annesmith Rookie

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    Thank you for the shared information. Solyndra is a California-based solar panel producer. A federally guaranteed loan of $535 million was a serious part of the investment that permitted the company to grow. However, the glow did not last long because this week, Solyndra announced that they will be declaring bankruptcy. Furthermore, it is still not clear what portion of Solyndra’s more than $1 billion debt the federal government may be responsible for paying. The federal loan guarantee was for $535 million. It will not be until after Solyndra’s bankruptcy hearings, at which the government will be represented, that the exact responsibility of the government will be understood. What is known for sure is that this guarantee will put taxpayers on the hook for several million dollars.
     
  3. bitterlyclingin
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    bitterlyclingin Silver Member

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    (Solyndra officials made some 20 visits to the WhiteHouse during the loan approval period. Obama bundler and Solyndra investor George Kaiser himself made three visits in one day to the White House during the process of garnering 535 million taxpayor dollars to bail himself out of his Solyndra investment and to eventually send to money Heaven. How do you spell T-E-A-P-O-T-D-O-M-E?)

    "Not only does the now-bankrupt solar energy firm Solyndra have a cozy financial relationship with the Obama administration, company representatives also made numerous visits to the White House to meet with administration officials, The Daily Caller has learned.

    According to White House visitor logs, between March 12, 2009, and April 14, 2011, Solyndra officials and investors made no fewer than 20 trips to the West Wing. In the week before the administration awarded Solyndra with the first-ever alternative energy loan guarantee on March 20, four separate visits were logged.

    George Kaiser, who has in the past been labeled a major Solyndra investor as well as a Obama donor, made three visits to the White House on March 12, 2009, and one on March 13. Kaiser has denied any direct involvement in the Solyndra deal and through a statement from his foundation said he “did not participate in any discussions with the U.S. government regarding the loan.”

    But the countless meetings at the White House seem hardly coincidental. Kaiser, in fact, is responsible for 16 of the 20 meetings that showed up on the White House logs.

    In the meetings on March 12, Kaiser met with former Chairman of the Council of Economic Advisors Austan Goolsbee at 11 a.m., Senior Advisor Pete Rouse at 3 p.m., and Deputy Director of the Domestic Policy Council Heather Higginbottom at 6:30 p.m. On the 13th, Kaiser met with Deputy Director of the National Economic Council Jason Furman at 9 a.m."


    Read more: Solyndra | White House Visits | Bankruptcy | The Daily Caller
     
  4. iamwhatiseem
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    iamwhatiseem Gold Member

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    Of course this smells...that is because it is rotten to the core.
    But if you think this is unique to this Administration you need to read a little bit more.
    This is EXACTLY what happens when government mixes with the private sector.
    Government bases decisions on politics and what makes them personally look good doing on TV. Obama, Biden and 4 other cabinet members have been to this company.
    Obama made announcements about "success of green energy" from this companies floor.
    Government simply does not belong in the private sector. Period.
     
  5. signelect
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    signelect BANNED

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    How much money did Obama investors make on this deal. I bet none of them went home broke. Unfortunately this is Washington politics at it best, both parties are guilty and the beat goes on.
     
  6. MiddleClass
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    MiddleClass Moderate American

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    Despite non-stop criticism from Republicans, the Obama administration's efforts to help the economy has created jobs.

    It just hasn't created nearly enough given the damage done to the labor market by the Great Recession.

    The administration's initial stimulus plan, the $787 billion package passed in February 2009, was designed to save or create about 4 million jobs.

    According to some third-party estimates, the White House may have come close to hitting that target, especially if you factor in the administration's bailout of the auto industry.

    But the job losses in late 2008 and early 2009 ended up being much worse than expected. A total of 3.8 million jobs were lost from December 2008 through April 2009, an average of just over 750,000 a month.

    By the time the job losses stopped a year after Obama took office, the Great Recession had cost the economy 8.8 million jobs, and the unemployment rate was stuck in the 9% to 10% range.

    So even if estimates of more than 4 million jobs saved or created was correct, it was not nearly enough to get the job market back on track.

    From: Stimulus added jobs, just not enough - Sep. 8, 2011
     
  7. MiddleClass
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    And the private sector does not belong in government either. So somebody please tell the Anti-American Koch Brothers:evil:
     
  8. Dr.House
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    Dr.House Lives on in syndication!

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    0bama's next book:

    How to Lose $535 Million Without Even Trying
     
  9. OohPooPahDoo
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    When was the other 535 million dollar bet?
     
  10. Dr.House
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    Dr.House Lives on in syndication!

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    Title likely worded incorrectly...

    Should be "Another 0bama Bet - $535 Million Gone With the Wind"

    HTH
     

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