Forget Bain — Obama’s public-equity record is the real scandal

Clementine

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Despite a growing backlash from his fellow Democrats, President Obama has doubled down on his attacks on Mitt Romney’s tenure at Bain Capital. But the strategy could backfire in ways Obama did not anticipate. After all, if Romney’s record in private equity is fair game, then so is Obama’s record in public equity — and that record is not pretty.

Forget Bain — Obama’s public-equity record is the real scandal
Forget Bain — Obama’s public-equity record is the real scandal - The Washington Post

Obama helped these companies by gambling with tax payer money.

Raser Tecnologies - $33 million and they went bankrupt and owe $1.5 million in back taxes.

ECOtality - $126.2 million. They've had $45 million in loses and say they won't be profitable in the future. They are also under investigation for insider trading.

NGP - $98.5 million and they are in financial turmoil.

First Solar - $3 million and they fell to a record low and fired 30% of their employees.

Abound Solar, Inc - $400 million and they aren't doing well. They fired 180 employees.

Beacon Power - $43 million and they filed for bankruptcy.

SunPower - $1.2 billion and now owe more than they are worth.

Don't forget Solyndra - half a billion and they went bankrupt.

Obama claimed that all received government backed loans on their merits.

All that cronyism and corruption is catching up with the administration. According to Politico, “The Energy Department’s inspector general has launched more than 100 criminal investigations” related to the department’s green-energy programs.
 
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Bain Capital Explained By Tony Soprano (VIDEO)
 
Program dates back to 2005

The Energy Department's loan guarantee program was created as part of the Energy Policy Act of 2005, passed by a Republican-controlled Congress and signed by Bush.

In his signing speech, Bush lauded the bill's support for clean technology, though he didn't specifically mention the loan guarantees.

The loan guarantees were designed to "support innovative clean energy technologies that are typically unable to obtain conventional private financing due to high technology risks."

Republicans, including Bush, emphasized the program's benefits for nuclear energy and biofuels. The president touted the new energy law in his 2007 State of the Union address. His energy secretary, Samuel Bodman, regularly mentioned the loan guarantees in speeches on renewable energy. The Energy Department issued its final rules for the program in 2007, along with a list of 16 companies that made the cut for to apply for its first round of awards, and Solyndra was among them.

House Republicans investigating Solyndra have claimed that the Bush administration ultimately rejected the Solyndra loan, but that's not quite the case. Democrats on the House Energy and Commerce Committee and news media point out that Bush energy officials wanted to get the loan closed on their way out the door — it was listed as the first of their "three highest priorities through January 15." (Obama took office Jan. 20, 2009.) But the Energy Department's credit committee held things up for more analysis.

More: PolitiFact | Did the program that funded the Solyndra loan start under George W. Bush? David Plouffe says so
 

The loan was requested under Bush, but his administration was reluctant to grant it because the company didn't seem stable. Obama came in office and fast tracked the loan. Obama gets credit- sorry!!

How can you wingnuts just make shit up without any facts or regard for truthfulness? I'm not made that way.
:eusa_liar:

PS-fixed it for you! :eusa_angel:
Do more research, not just those that suit your agenda.
:eusa_whistle:

*Moderator Mode*
Altering quotes is not allowed, the original quote has been restored.
 
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The loan was requested under Bush, but his administration was reluctant to grant it because the company didn't seem stable. Obama came in office and fast tracked the loan. Obama gets credit- sorry!!

How can you wingnuts just make shit up without any facts or regard for truthfulness? I'm not made that way.

That's right, we'll decide what constitutes a scandal and it is definately Bain. Stepped up attacks on Obama won't help them.
 
The bankrupt solar companies aren't made up by the right. They are real and so was the billions in tax payer dollars lost in a very short time. Where did the money go? Why did Solyndra, who made a half billion dollars disappear, have the CA Dems listed as a creditor?

Obama can't keep avoiding this subject. The people deserve an explanation. Bain didn't fail till two years after Romney left. The companies that Obama diverted billions of our money to failed within months and have nothing to show for the money. I suspect the money ended up in Dem coffers. Until Obama cooperates with investigations and comes clean, we'll never know. It is clear that billions of dollars vanished and it had to go somewhere.
 
The loan was requested under Bush, but his administration was reluctant to grant it because the company didn't seem stable. Obama came in office and fast tracked the loan. Obama gets credit- sorry!!

How can anyone just make shit up without any facts or regard for truthfulness? I'm not made that way.
:eusa_liar:

PS-fixed it for you! :eusa_angel:
Do more research, not just those that suit your agenda.
:eusa_whistle:

The Energy Department's loan guarantee program was created as part of the Energy Policy Act of 2005, passed by a Republican-controlled Congress and signed by Bush.

Bush energy officials wanted to get the loan closed on their way out the door — it was listed as the first of their "three highest priorities through January 15."

---------------------------

What you're saying is Obama made a mistake for trusting anything George Bush did or wanted. I agree. Obama should have known better. Everything Bush did was either a scandal, a catastrophe, a failure or "all of the above".
 
The "facts" really are indisputable...

The Bush Administration shelved Solyndra's loan application.

The Obama Administration fast tracked it.

This rather pathetic attempt to shift the blame elsewhere is typical of Barack Obama.
 
How can anyone just make shit up without any facts or regard for truthfulness? I'm not made that way.
:eusa_liar:

PS-fixed it for you! :eusa_angel:
Do more research, not just those that suit your agenda.
:eusa_whistle:

The Energy Department's loan guarantee program was created as part of the Energy Policy Act of 2005, passed by a Republican-controlled Congress and signed by Bush.

Bush energy officials wanted to get the loan closed on their way out the door — it was listed as the first of their "three highest priorities through January 15."

---------------------------

What you're saying is Obama made a mistake for trusting anything George Bush did or wanted. I agree. Obama should have known better. Everything Bush did was either a scandal, a catastrophe, a failure or "all of the above".

The Solyndra loan was on the table for a long time and Bush could have done it if he wanted. He obviously didn't want to.

You can't spin this one away. Obama could have denied it, but didn't. Time for him to be a big boy and take responsibility for his own actions.
 

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