oreo
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President Obama Monday said he does not regret a half-billion dollar government loan to the now-bankrupt solar energy company Solyndra and vigorously defended his administration’s policy of providing assistance to similar entities.
“No I don’t,” the president said when asked directly if he regretted the $535 million federal loan guarantee in 2009. “Because if you look at the overall portfolio of loan guarantees that had been provided, overall it’s doing well. And what we always understood is that not every single business is going to succeed in clean energy.”
Obama: No regrets over Solyndra – The 1600 Report - CNN.com Blogs
535 MILLION taxpayer dollars down the toilet. Of course he doesn't regret it--it wasn't his money. Plus it was nothing more than a political pay-back for the main investor in this company--that was also a huge campaign bundler for his 2008 Presidential campaign. Obama states that the overall portfolio is doing well--B.S.--3 other solar companies that he loaned money too also went bankrupt--costing another 300 MILLION taxpayer dollars.
The Bush administration (energy department) turned down Solyndra one month prior to Obama taking over due to a BAD business model of this company--and Obama came into office and AGAINST all accounting auditors advice went ahead and made the loan anyway. We even have an e-mail going to Joe Biden's desk stating that this company would be bankrupt in Sept. 2011--and that's exactly when this company went bankrupt.
One Big Ass Mistake America
You voted for it--You got it!
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