Solyndra On Wheels

[bitterlyclingin]

(Just when you thought you'd seen the worst of Obama's Crony Capitalism, this tidbit appears in the news. Apparently the key to getting your fingers into the US Treasury's till, and whatever sums of taxpayer's dollars your heart desires, was to bundle some election funds for Barry. Cars built in Finland with Chinese engines funded under the stimulus? Whats 787 billion dollars between friends anyway? "The taxpayers will never notice. Besides, if they do, I'll just blind them with a smile and a speech, and it'll be all cool.")

"It’s a gorgeous vehicle, manufactured in Finland and sporting a Chinese engine. Rich people like Leonardo DiCaprio and Al Gore (both of whom made their fortunes by peddling fiction) are lining up to buy it. Nothing wrong with that; if I had the money I might buy one myself, even though the car doesn’t get especially good mileage. But there is just one thing: the Obama administration has invested $529 million in taxpayer money to help develop the Fisker Karma. That’s right–it’s another “green jobs” scam, except that if any jobs are being saved or created, they are in Finland and China.

Why on Earth would Barack Obama subsidize Finnish workers and fantastically rich Americans? For the usual reason:

Fisker’s top investors include Kleiner Perkins Caufield & Byers, a veteran Silicon Valley venture-capital firm of which [Al] Gore is a partner. Employees of KPCB have donated more than $2.2 million to political campaigns, mostly for Democrats, including President Barack Obama and Hillary Clinton, according to the Center for Responsive Politics, a nonpartisan group that tracks campaign contributions."

http://www.powerlineblog.com/archives/2011/10/solyndra-on-wheels.php

 

[naturegirl]

(Just when you thought you'd seen the worst of Obama's Crony Capitalism, this tidbit appears in the news. Apparently the key to getting your fingers into the US Treasury's till, and whatever sums of taxpayer's dollars your heart desires, was to bundle some election funds for Barry. Cars built in Finland with Chinese engines funded under the stimulus? Whats 787 billion dollars between friends anyway? "The taxpayers will never notice. Besides, if they do, I'll just blind them with a smile and a speech, and it'll be all cool.")

"It’s a gorgeous vehicle, manufactured in Finland and sporting a Chinese engine. Rich people like Leonardo DiCaprio and Al Gore (both of whom made their fortunes by peddling fiction) are lining up to buy it. Nothing wrong with that; if I had the money I might buy one myself, even though the car doesn’t get especially good mileage. But there is just one thing: the Obama administration has invested $529 million in taxpayer money to help develop the Fisker Karma. That’s right–it’s another “green jobs” scam, except that if any jobs are being saved or created, they are in Finland and China.

Why on Earth would Barack Obama subsidize Finnish workers and fantastically rich Americans? For the usual reason:

Fisker’s top investors include Kleiner Perkins Caufield & Byers, a veteran Silicon Valley venture-capital firm of which [Al] Gore is a partner. Employees of KPCB have donated more than $2.2 million to political campaigns, mostly for Democrats, including President Barack Obama and Hillary Clinton, according to the Center for Responsive Politics, a nonpartisan group that tracks campaign contributions."

“Solyndra On Wheels” | Power Line

Oh snap, they couldn't make that car here. Nope we don't have the facilities or the skilled workers. If it makes it in Finland, it might create some jobs here.................just like Solyndra was going to. Yes, let's keep investing in failing foreign green companies, just what we need.

 

[bitterlyclingin]

(The cup of "Crony Capitalism" continues to runneth over. Just bundle for Barry and he'll make you rich! The Chicago Way, only out of 1600 Pennsylvania Ave.)

"Yet an audit this year by the Government Accountability Office, the investigative arm of Congress, criticized the Energy Department for not keeping close enough tabs on its fleet of auto loans — including those to Fisker and Tesla — to ensure they meet benchmarks. The funding was issued under the $25 billion Advanced Technology Vehicles Manufacturing loan program, one piece of a giant umbrella of DOE loans and loan guarantees going out the door.

“DOE cannot be assured that the projects are on track to deliver the vehicles as agreed,” said the GAO report examining the department’s ATVM program. “It also means that U.S. taxpayers do not know whether they are getting what they paid for through the loans.” [emphasis mine]"

Donors, Bundlers, and Obama Allies Secure $1 Billion in Loans, Export Jobs to Finland | RedState

 

[bitterlyclingin]

At what point does this collection of steadily growing sewage reach enough critical mass to be referred to and treated as "High Crimes and Misdeameanors"?
Remember when Dick Cheny hosted a conference of oil company insiders in the VP offices? CVS was called in to send multiple emergency tractor trailer fleets loaded with Adult Huggies to both the NYT's and the WaPo's headquarters to staunch the tidal wave of uncontained soil that was inundating those offices after the Liberal writers inside simultaneously lost control of their anal sphincters after hearing the report.

 

[blastoff]

At the least they should name one of the car models the Batshit Mobile as a testament to this whole idiotic endeavor.

 

[waltky]

More political strings pulled?...

Solar-panel maker Solyndra defeated a proposed government takeover bid on Monday
Wednesday, October 19, 2011 - Solar-panel maker Solyndra LLC defeated a proposed government takeover bid, but the attempt underscored the depth of concerns in recent weeks at the Justice Department about the roles played by the bankrupt company’s top financial officer and its board of directors.

Lisa D. Tingue, an attorney for the U.S. Office of the Trustee, an arm of the Justice Department that oversees bankruptcy cases, on Monday cited the continuing employment of Solyndra’s chief financial officer, W.G. Stover, as a factor in the government’s request that a court-appointed trustee run the California-based company. Speaking in U.S. Bankruptcy Court in Delaware, she called the resignation of Solyndra CEO Brian Harrison “a good thing.” “We’re happy he did it earlier rather than later,” she said.

Mr. Stover and Mr. Harrison refused to testify before a House committee investigating the Solyndra collapse, citing their Fifth Amendment right against self-incrimination. The company was raided by the FBI last month, days after filing for bankruptcy. Just two years earlier, Solyndra had won more than a half-billion dollars in federal loan guarantees. The company did not respond to email and phone messages Wednesday concerning Mr. Stover. At the court hearing, Ms. Tingue all but suggested that Mr. Stover ought to follow Mr. Harrison and leave the company, though there was no indication that would happen anytime soon. She also questioned whether Solyndra would be transparent with the same board of directors in place.

Attorneys for the company had said in court filings that Mr. Harrison’s departure was planned and that a chief restructuring officer was taking over. They also balked at any suggestion that the company wasn’t being transparent, saying Solyndra repeatedly has provided information to the government. Saying there was no indication of fraud or mismanagement, U.S. Bankruptcy Judge Mary F. Walrath declined to appoint a trustee, which would have ousted the current management. Still, while noting “concern” about Mr. Stover’s position at the company, she called the appointment of an outside chief restructuring officer to run the company a “good compromise.”

Before joining Solyndra in the summer of 2007, Mr. Stover was chief financial officer for Micron Technology in Idaho, which he joined in 1994, according to the Idaho Statesman. The newspaper reported that in 2006, he was the company’s third-highest-paid executive, with $1.9 million in compensation. He retired shortly after the company announced a round of layoffs. By calling for a chief restructuring officer instead of a trustee, the judge’s decision means the officer, R. Todd Neilson, and the firm where he is a director, Berkeley Research Group LLC, stand to earn between $900,000 and $1.1 million in fees during the bankruptcy, according to court filings.

MORE

 

[flacaltenn]

Anyone need more proof that "stimulus" means payback to constituents?

Take away the power to dole out this gambling money. It's not neccessary and the mental midgets in charge have no idea what they are investing in..