Solar company Obama touted--& loaned 535 MILLION guaranteed loan announces bankruptcy

Discussion in 'Politics' started by oreo, Sep 4, 2011.

  1. oreo
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    oreo Senior Member Supporting Member

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    So there goes another 535 MILLION taxpayer dollars down the toilet.

    One Big Ass Mistake America

    $fore.jpg

    2012 cannot come soon enough.
  2. bassho
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    bassho Rookie

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    Given the fact Obama has never done anything productive in his life, this should be no surprise. He's an organizer plain and simple...all this guy knows how to do is waste loads of money he confiscates one way or another from the hardest working americans and campaign, campaign, campaign.
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  3. oreo
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    oreo Senior Member Supporting Member

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    100% agreed--that's what ya get for hiring a community organizer to be President of the free world. This guys experience amount to NOTHING.

    In his New York Times Sunday Review essay “What Happened to Obama?” Emory University psychology professor Drew Westen summed up the president’s lack of experience with devastating succinctness.

    Great: Now Even Committed Democrats Concede Obama ‘Had No Accomplishments Prior to Being Elected’ – Thanks for Nothing, Dems! | Conservatives4Palin
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  4. OohPooPahDoo
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    OohPooPahDoo Senior Member

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    Says it offered them the loan. Where does it say they took it?
  5. Matthew
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    Matthew Blue dog all the way!

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    Sad to see solar is not working out. Maybe it is to expansive to work within the market place?

    Can you explain to me why it is failing?
  6. oreo
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    oreo Senior Member Supporting Member

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    1000 employees--say's a business needs a lot of capital--a low interest Guaranteed loan was more than likely taken--or why would they even mention it in the article. You'll note the republican response in the last paragraph-- indicating it was taken.
  7. hellofromwarsaw
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    hellofromwarsaw BANNED

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    China and everyone else subsidizes their green industry, but pubs will only help Big Oil. Brilliant!! Morons...
  8. Matthew
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    Matthew Blue dog all the way!

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    I think Hydrogen is the answer to this.
    1# It is the number one gas in the fucking universe. Meaning it will NEVER run out.
    2# It is clean and green as its bi-product is water
    3# It makes the most sense as a green energy source

    I think within the next decade that it can break obrit (make it within the market)without subsides. Because there is unlimited amounts of it and there is a pretty hard push towards a green economy. If it can become economical then watch it past oil.

    Wind and solar can't beat it. The whole question is when will something become workable within the market...Right now I'd say Hydrogen.
  9. LibocalypseNow
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    LibocalypseNow Senior Member

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    Well it wasn't his or their Money,so i doubt they care. Pretty much Democrat mentality. Half a Billion in hard-earned Tax Dollars gone forever. Thanks a lot Mr. President.
  10. Oddball
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    Oddball BANNED Supporting Member

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    That's what America needs, to be more like China!

    idjit
  11. Oddball
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    Oddball BANNED Supporting Member

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    This article hits it right on the head:

    Feeding The Masses On Unicorn Ribs | Via Meadia
  12. Soggy in NOLA
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    Soggy in NOLA VIP Member

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    No doubt this is all Bush and Cheney's fault.
  13. The T
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    The T George S. Patton Party Supporting Member

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    And how did Green work out for Spain?

    Spain’s green jobs boondoggle
  14. LibocalypseNow
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    LibocalypseNow Senior Member

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    This another example of corrupt Cronyism at its worst. This President and many of his minions had very close ties with the founders of this failed Company. They were given preferential treatment and given a Half Billion in hard-earned American Tax Dollars. This debacle should be investigated. It just stinks of awful corruption.
  15. The T
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    The T George S. Patton Party Supporting Member

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    Industry is inept without OIL you moron.
  16. LibocalypseNow
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    LibocalypseNow Senior Member

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    This Company and this White House should be fully investigated. They stole from the Tax Payers. This kind of cronyism should not be allowed to stand.
  17. The T
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    The T George S. Patton Party Supporting Member

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    Legalized theft at the point of a gun.
  18. LibocalypseNow
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    LibocalypseNow Senior Member

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    Yea they flat-out raped the American Tax Payers. An awful crime was committed here. They should all be held accountable.
  19. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Solyndra is a scam...and a pay back to Obama campaign contributors.

    Its auditors questioned the survival of the company within a few months of the federal loan guarantees. The federal loans were supposed to have first liquidation preference - but after investors put another $75M into the company, taxpayer money was subordinated to the new funds, and then put on pari pasu basis with $175M of investor capital (unless the company avoids liquidation - which of course, is not the case).

    If any one company is a poster child for the government's inability to make good investment decisions, Solyndra is.

    Taxpayers Rank Behind Solyndra Investors Under Obama

    Solar company Solyndra's survival in doubt pre-IPO | Reuters
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    Last edited: Sep 5, 2011
  20. LibocalypseNow
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    LibocalypseNow Senior Member

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    Such awful Cronyism. Many members of this Administration had very close ties with this Company's founders. It should have never happened. I do feel that investigations need to take place. A terrible crime was committed here. The American Tax Payers don't deserve this. Hopefully they wont get away with it.

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