Chu: Taxpayers Unlikely to Recover Much From Solyndra Loan Read more: http://www.fox

Discussion in 'Politics' started by WillowTree, Nov 17, 2011.

  1. WillowTree
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    WillowTree Diamond Member

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    Energy Secretary Steven Chu said Thursday he doesn't think taxpayers will recover much of their $528 million loan to bankrupt solar firm Solyndra, calling the situation "extremely unfortunate" while continuing to defend his actions to prop up the company before its failure.
    Chu testified Thursday for the first time before the House committee investigating the Solyndra loan. He insisted that the decision in late 2009 to approve the loan guarantee was his own and "absolutely was made only on the merits." He said it was not influenced by political considerations.


    Read more: Chu: Taxpayers Unlikely To Recover Much From Solyndra Loan | Fox News
     
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  2. WillowTree
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    WillowTree Diamond Member

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    so once again obama has lifted his leg and pissed on the American Taxpayer.


    good job demoncrats.
     
  3. Claudette
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    Claudette Gold Member

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    Yep.

    We taxpayers are sucking hind tit behind Keiser and his investors.

    Apparantly that was part of the deal before the investors invested. They would get payback first if the place went belly up.

    Yup. The Clowns in DC are really looking out for the taxpayers of America.
     
  4. Jackson
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    Jackson Gold Member Supporting Member

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    I have been listening to a short time and two Congressmen have said that Chu did break the law in subordinating the loan. One even alluded to the fact that although he was responsible for the restructuring the loan which was against the law, it was his opinion that he is being a "fall guy."

    Too many are calling for his removal, but it won't end there. It's going up the line. MOO.
     
  5. Jackson
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    Jackson Gold Member Supporting Member

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    That's one way to put it, yes! You are right again, Willow.
     
  6. Valerie
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    Valerie Gold Member

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    Maybe he should've stuck with science as he obviously isn't very good at analyzing the merits of business loans...Nice of him to take the blame though. :lol:





    His nomination to be Secretary of Energy was unanimously confirmed by the U.S. Senate on January 20, 2009.[33] On January 21, 2009, Chu was sworn in as Secretary of Energy in the Barack Obama administration.



    Steven Chu (born February 28, 1948)[2] is an American physicist and the 12th United States Secretary of Energy. Chu is known for his research at Bell Labs in cooling and trapping of atoms with laser light, which won him the Nobel Prize in Physics in 1997, along with his scientific colleagues Claude Cohen-Tannoudji and William Daniel Phillips.[2] At the time of his appointment as Energy Secretary, he was a professor of physics and molecular and cellular biology at the University of California, Berkeley and the director of the Lawrence Berkeley National Laboratory, where his research was concerned primarily with the study of biological systems at the single molecule level.[3] Previously, he had been a professor of physics at Stanford University. He is a vocal advocate for more research into alternative energy and nuclear power, arguing that a shift away from fossil fuels is essential to combating climate change.[4][5][6] For example, he has conceived of a global "glucose economy", a form of a low-carbon economy, in which glucose from tropical plants is shipped around like oil is today.[7]

    Steven Chu - Wikipedia, the free encyclopedia






    How about maybe pressing him NOT to take action on the loan.........???
     
  7. Valerie
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    Valerie Gold Member

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    Point being, WHY is Chu in the position to determine viability of loans in the first place...?


    :eusa_whistle:
     
  8. Jackson
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    Jackson Gold Member Supporting Member

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    But, was he really?..... Or was he being told? Things just got testy between Waxman and the Chairman. Waxman wanted to stop the questioning and the chairman wanted to finish with the second round of questioning. Very interesting. A compromise was reached and they will break again for 30 min. and the conclude by 3:30. Too bad, Waxman.
     
  9. Wurlitzer28
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    Wurlitzer28 Rookie

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    In the good old days if someone had said "we want the USA to pay as much or more for energy than Europe" they would have been covered by one of those sticky oil byproducts and feathers.

    No, the destroy America by any means crowd continue to support this administration in the hopes that they can destroy the one country who more people in the world try to enter (legally or illegally) than any other.
     
  10. Valerie
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    Valerie Gold Member

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    :dunno: He's the fall-guy anyway...



    Would be nice if the White House hadn't rebuffed that Congressional subpoena so we could see the facts about all those supposed merits...






     

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