Solyndra e-mails: Dept. of Energy was poised to approve $469 million for firm (secon

Discussion in 'Politics' started by Matthew, Oct 5, 2011.

  1. Matthew
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    Matthew Blue dog all the way!

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    Solyndra e-mails: Dept. of Energy was poised to approve $469 million for firm (second massive loan)
    Washington Post ^ | Wednesday October 5, 2011 | Carol D. Leonnig

    Solyndra e-mails: Dept. of Energy was poised to approve $469 million for firm - The Washington Post
    The Obama administration’s Department of Energy was poised last summer to give Solyndra a second major taxpayer loan of $469 million, even as the company’s financial situation was growing more dire.

    The Energy Department was actively pushing to provide the second loan guarantee to the troubled solar-panel manufacturer in April and May 2010, when Solyndra’s auditors warned the company was in danger of closing due to its rapidly mounting debts and expenses, according to complete e-mails just released by a House committee investigating the original loan.

    White House career staffers, who had first raised concerns in the fall of 2009 about the Department of Energy providing Solyndra with its first taxpayer-backed loan of $535 million , wrote e-mails in gallows humor in April 2010 about the prospect of giving Solyndra more money. That spring, industry analysts were publicly questioning how the Silicon Valley startup could so quickly be running out both the federal loan and $933 million in private capital.

    “Apparently the loan size for Phase II is $469 million,” one Office of Management and Budget analyst wrote of DOE seeking a second loan for Solyndra. The analysts’s name was not released by the committee. “I’ve been told we should expect the see that project soon for conditional commitment.”

    Another joked: “Possible to close and default on one before closing on a second??? Could be a new record.”

    The agency didn’t shelve the idea for a second loan until October 2010, a Department of Energy spokesman has confirmed. That was the month that Solyndra executives and investors first warned the department that the company was facing the threat of having to liquidate without emergency cash.

    (Excerpt) Read more at washingtonpost.com ...


    :evil::evil:
     
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  2. blastoff
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    blastoff Undocumented Reg. User

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    Can't blame the Barry administration for any of this. After all, with all the academic types working for him there's probably no one on staff who knows how to read a balance sheet or income statement. And besides, it's the government's money anyway.
     
  3. Meister
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    Meister VIP Member Supporting Member

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    I'm wondering what the libs on this board have to say about it
     
  4. Jarhead
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    Jarhead Gold Member

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    exactly what they said when the story first broke...

    The loan was requested during the Bush administration so how can you blame the Obama administration.

    You know...typical liberal double talk.
     
  5. iamwhatiseem
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    iamwhatiseem Gold Member

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    :lol::lol:
    It was REQUESTED while Bush was President - and it was TURNED DOWN and put into the "looks fishy" pile with other request.
    Practically the day Obama swore in - his administration IMMEDIATELY fast tracked the loan through even when others in the administration were warning about a possible default - they approved anyway.
    The O.P is stating that they were about to give ANOTHER loan.

    What a clown :cuckoo:
     
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  6. Matthew
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    Matthew Blue dog all the way!

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    The left is stupid as they blame Bush for something he turned down, but there guy pushed through hell and high water once he got into office. Who's the fuck up? well, I'd say Obama is clearly the fuck up.
     
  7. Jackson
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    Jackson Gold Member Supporting Member

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    Before too long I think we should start counting the special prosecuters that are needed. Now were the taxpayers going to go to the bottom of the list for paying this one back, too?
     
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  8. Jarhead
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    Jarhead Gold Member

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    yes...that is why it was so funny.

    It was requested during the Bush years, so the left blamed it on Bush and held Obama not at all accountable.

    The fact that the Bush people denied the loan and the Obama people were advised to deny the loan is irrelevant to the left.

    The fact that the application came in during the Bush years means it is Bush's fault.

    GO figure.
     
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  9. GHook93
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    GHook93 Aristotle

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    :disbelief:



    I think I need to start a solar company! It appears you can have a product that sells for less than it costs to make, never even hit the market, squander half a billion dollars and then be poised to get another half billion dollars! AAAMMAAZZZING!!!!
     
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  10. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    It's all Bush's fault.... oh wait...
     

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