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would you be concerned with farm subsidies going to congressional members also?
If tax payer money is used to inapproaiately assist financial backers of a sitting politician, I would want to know about it and have that politician reprimanded.
Now...on the outside, this appears to be an attrempt to keep a dying company afloat so a major financial supporter of Obama does not lose billions. His frequent visits to the White House (4) during the "decision" process smells a little fishy. The governments move to put private investors ahead of the tax payer also smells fishy. When a company that has serious financial issues requests a loan from anyone, the only way they get that loan is if they are put in "first position"...in other words, all other loans are subordinated.
But in this case, such did not happen....and that is very unusual.
Bear in mind...I made it clear that "THIS APPEARS to be the case"....but that is what hearings are all about.
Now let me ask you....are you not concerned about this?
As long as it has Obama's fingerprints on it, they will defend anything.
That happened in 2011 after the GOP took over the House and all the oversight committees. Which is why the GOP allowed Solyndra to cancel its testimony before the House and will allow them to plead the 5th. If the Dems were dirty, could you ever imagine the GOP letting Solyndra cancel their testimony????Bush signed TARP... not Obama.
I knooooooooow lol
ST remember when they air dropped (I think a billion) dollars in Iraq then it went missing. That to me as fucked up but a Loan to a company that went under? It happens
if this is simply about a company going under, no harm, no foul. If this is found to be an effort to help a major supporter of the sitting President NOT lose billions of dollars as is one of the theories, then it is something big.
Furthermore, I would like to know why the taxpayer loan of a half a billion dollars was put at the END of the list of who gets reimbursed during the bankruptcy proceedings....if, in fact, such allegations are true.
It will be interesting to see how this unfolds.
That happened in 2011 after the GOP took over the House and all the oversight committees. Which is why the GOP allowed Solyndra to cancel its testimony before the House and will allow them to plead the 5th. If the Dems were dirty, could you ever imagine the GOP letting Solyndra cancel their testimony????I knooooooooow lol
ST remember when they air dropped (I think a billion) dollars in Iraq then it went missing. That to me as fucked up but a Loan to a company that went under? It happens
if this is simply about a company going under, no harm, no foul. If this is found to be an effort to help a major supporter of the sitting President NOT lose billions of dollars as is one of the theories, then it is something big.
Furthermore, I would like to know why the taxpayer loan of a half a billion dollars was put at the END of the list of who gets reimbursed during the bankruptcy proceedings....if, in fact, such allegations are true.
It will be interesting to see how this unfolds.
Actually that happened in 2011 after the GOP took over the House and all the oversight committees. Among the investors moved to the front by the GOP were the Walton family, major GOP contributors, through their Madrone Capital Partners investment firm.Well obviously you didn't give to Barry's campaign and you aren't in the solar panel, green, movment.
BTW Kaiser and his investors loaned Solydra 75 million with a proviso that they be first in line in case of bankrupcy.
We taxpayers ,of course, will take the back seat. Rather like the investors at GM and Chrysler. You remember. The folks who got hosed.
Oh, this looks very bad for the O admin, without doubt.
No doubt as the details of this event are unfoiled for us in the news, we will discover who the culprits are (assuming there are any, of course).
Now this company is filing for bankruptsy, so that means that in all probability the business will go on once debtors are satisfied.
Sadly, the US taxpayer is one of those debtors, so who knows how bad a hit this will be for us?
WE will see over time.
It's a partisan issue, filled with sound and fury..that will fizzle out..like every other "gotcha" bullshit thing that gets brought up.
It's from the same crowd that looked the other way when the Bush administration shipped tax payer cash, literally, on wooden pallets to Iraq. And in billions.
was it alleged that Bush shipped that money to assist fianncial backers of his campaign?
If not, comparing it to this is inappropriate.
Misuse of tax payer funds is bad enough.
To do it to assist a financial backer of ones campaign takes it to another level.
Well obviously you didn't give to Barry's campaign and you aren't in the solar panel, green, movment.
BTW Kaiser and his investors loaned Solydra 75 million with a proviso that they be first in line in case of bankrupcy.
We taxpayers ,of course, will take the back seat. Rather like the investors at GM and Chrysler. You remember. The folks who got hosed.
It's a partisan issue, filled with sound and fury..that will fizzle out..like every other "gotcha" bullshit thing that gets brought up.
It's from the same crowd that looked the other way when the Bush administration shipped tax payer cash, literally, on wooden pallets to Iraq. And in billions.
was it alleged that Bush shipped that money to assist fianncial backers of his campaign?
If not, comparing it to this is inappropriate.
Misuse of tax payer funds is bad enough.
To do it to assist a financial backer of ones campaign takes it to another level.
Are you kidding?
Halliburton?
Blackwater?
Sheesh..really?
Actually that happened in 2011 after the GOP took over the House and all the oversight committees. Among the investors moved to the front by the GOP were the Walton family, major GOP contributors, through their Madrone Capital Partners investment firm.Well obviously you didn't give to Barry's campaign and you aren't in the solar panel, green, movment.
BTW Kaiser and his investors loaned Solydra 75 million with a proviso that they be first in line in case of bankrupcy.
We taxpayers ,of course, will take the back seat. Rather like the investors at GM and Chrysler. You remember. The folks who got hosed.
Actually, the previous poster "forgot" to mention GOP contributers the Walton family, and even though I highlighted the Kaiser investment when i posted my reply, your partisan blinders caused you to miss it!Actually that happened in 2011 after the GOP took over the House and all the oversight committees. Among the investors moved to the front by the GOP were the Walton family, major GOP contributors, through their Madrone Capital Partners investment firm.Well obviously you didn't give to Barry's campaign and you aren't in the solar panel, green, movment.
BTW Kaiser and his investors loaned Solydra 75 million with a proviso that they be first in line in case of bankrupcy.
We taxpayers ,of course, will take the back seat. Rather like the investors at GM and Chrysler. You remember. The folks who got hosed.
You forgot to mention George Kaiser....a big dem contributor.
This is a potentially embarrassing situation for the President. I'm quite curious what the purpose of the FBI raid was and what it found. This is very new, and we just don't know what happened yet. Still, the characterization, "Obama And Cronies Steal One Half a Billion Dollars" is wrong on four counts.
1) Obama didn't steal anything. Asking Congress to give someone money isn't stealing.
2) There's no evidence that the responsible persons are Obama's "Cronies". Dictionary.com defines "crony" as "close friend or companion; chum". The fact that they may have attended meetings in the White House and they received money from Congress doesn't make them Obama's cronies.
3) The money wasn't stolen. The federal government guaranteed Solyndra's loans, and Solyndra took the loans using that guarantee. If they then took that money and left with it, then yes, that would be stealing. However, there's no evidence that that is what happened. If they funded an unsuccessful business with the money, that is not stealing.
4) The cost to the taxpayer will not necessarily be $500M. Companies that go bankrupt generally still have assets, which are used to pay back some of what they owe their creditors.
This is a potentially embarrassing situation for the President. I'm quite curious what the purpose of the FBI raid was and what it found. This is very new, and we just don't know what happened yet. Still, the characterization, "Obama And Cronies Steal One Half a Billion Dollars" is wrong on four counts.
1) Obama didn't steal anything. Asking Congress to give someone money isn't stealing.
2) There's no evidence that the responsible persons are Obama's "Cronies". Dictionary.com defines "crony" as "close friend or companion; chum". The fact that they may have attended meetings in the White House and they received money from Congress doesn't make them Obama's cronies.
3) The money wasn't stolen. The federal government guaranteed Solyndra's loans, and Solyndra took the loans using that guarantee. If they then took that money and left with it, then yes, that would be stealing. However, there's no evidence that that is what happened. If they funded an unsuccessful business with the money, that is not stealing.
4) The cost to the taxpayer will not necessarily be $500M. Companies that go bankrupt generally still have assets, which are used to pay back some of what they owe their creditors.
With all due respect, LL? Your view that all those high level White House staffers aren't Obama "cronies" is rather laughable. This whole thing is about as blatant an example of crony capitalism as you could possibly come up with. In return for $70,000 to $100,000 in campaign contributions, Kaiser got loan guarantees of half a billion dollars for a company that financial analysts inside the Obama Administration were waving red flags on.
Companies that go bankrupt generally "do" still have assets. Unfortunately we were put at the end of the line to receive any of those assets because of the way the loan was structured...part of the "deal" that Kaiser worked out with this White House. We won't be getting diddly.
except it wasn't only Kaiser who the GOP, who had taken over the oversight committees in 2011, moved ahead of the taxpayers. The Walton family through their Madrone Capital Partners investment firm were part of the same deal. The Waltons contribute MILLIONS to the GOP.This is a potentially embarrassing situation for the President. I'm quite curious what the purpose of the FBI raid was and what it found. This is very new, and we just don't know what happened yet. Still, the characterization, "Obama And Cronies Steal One Half a Billion Dollars" is wrong on four counts.
1) Obama didn't steal anything. Asking Congress to give someone money isn't stealing.
2) There's no evidence that the responsible persons are Obama's "Cronies". Dictionary.com defines "crony" as "close friend or companion; chum". The fact that they may have attended meetings in the White House and they received money from Congress doesn't make them Obama's cronies.
3) The money wasn't stolen. The federal government guaranteed Solyndra's loans, and Solyndra took the loans using that guarantee. If they then took that money and left with it, then yes, that would be stealing. However, there's no evidence that that is what happened. If they funded an unsuccessful business with the money, that is not stealing.
4) The cost to the taxpayer will not necessarily be $500M. Companies that go bankrupt generally still have assets, which are used to pay back some of what they owe their creditors.
With all due respect, LL? Your view that all those high level White House staffers aren't Obama "cronies" is rather laughable. This whole thing is about as blatant an example of crony capitalism as you could possibly come up with. In return for $70,000 to $100,000 in campaign contributions, Kaiser got loan guarantees of half a billion dollars for a company that financial analysts inside the Obama Administration were waving red flags on.
Companies that go bankrupt generally "do" still have assets. Unfortunately we were put at the end of the line to receive any of those assets because of the way the loan was structured...part of the "deal" that Kaiser worked out with this White House. We won't be getting diddly.
Testifying during a House Energy and Commerce Committee hearing on Solyndra LLC in Washington, D.C., Jonathan Silver, executive director of the Department of Energy Loans Programs Office, said the upstart's loan application timeline had been set long before President Obama and his team took office.
Does seem very odd indeed. We give them 500 Million, they fail, and then the FBI raids the place. Are they there to find out what happened to our money or to cover up what happened to our Money.
One has to wonder.
This case Highlights one thing. The Feds are scratching their heads saying we gave them 500 Million how could they fail.
Simple. SOLAR is not viable as a profitable industry yet. Period. That is why it failed. The Chinese Produce Solar Cells for a Fraction of the Price we can, and guess what. Theirs are still not effecient enough to make Solar a viable alternative. Nothing more than a stop gap, Not an Alternative.
Does seem very odd indeed. We give them 500 Million, they fail, and then the FBI raids the place. Are they there to find out what happened to our money or to cover up what happened to our Money.
One has to wonder.
This case Highlights one thing. The Feds are scratching their heads saying we gave them 500 Million how could they fail.
Simple. SOLAR is not viable as a profitable industry yet. Period. That is why it failed. The Chinese Produce Solar Cells for a Fraction of the Price we can, and guess what. Theirs are still not effecient enough to make Solar a viable alternative. Nothing more than a stop gap, Not an Alternative.
It's not a viable energy source as yet. YES--it may cut down on your electric bill--but EVERY single solar home we have wired--has a WOOD stove for heating--and a gas fueled generator--when the power source (solar) is drained. They are also very SMALL homes.
We have an e-mail sent to JOE BIDEN--prior to them making this loan from an anaylist--stating that this company would be bankrupt in Sept. 2011 and they still made the loan.
Other e-mails from the accounting department that this company was being RUSHED through for loan approval--and that steps were not taken to insure that the taxpayers of this country were making a good investment etc. If this doesn't cook Obama's goose I don't know what will.
In Essense--they borrowed and spent 535 MILLION taxpayer dollars aka 1/2 BILLION dollars so they could get a photo-opt for Barack Obama at a solar plant.
