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

ScienceRocks

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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:
 

blastoff

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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.
 

Jarhead

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

iamwhatiseem

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I'm wondering what the libs on this board have to say about it
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.
: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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ScienceRocks

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I'm wondering what the libs on this board have to say about it
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.
: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:

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.
 

Jackson

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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?
 

Jarhead

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I'm wondering what the libs on this board have to say about it
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.
: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:
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.
 

GHook93

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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!!!!
 

Soggy in NOLA

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

Jackson

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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!!!!
But the really good parts are the kick bacx.er pay to pla..er, somethings wrong with this keyboard...
 

Grampa Murked U

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Jarhead

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I just find it funny that this is an issue..and stuff like the Orbital Nuclear Platform and other various failed weapon systems seem to go down the memory hole.

http://www.nytimes.com/2011/01/06/business/06marine.html

The Joint Strike Fighter program cost 300 Billion in total.

:lol:
hmmm...

Comparing the lending of money to a private organization where the administration was warned multiple times that the loan was not a smart loan to a program that was never advised against but, as the progrm moved on, unanticipated and never warned of difficulties arose..so when the time came to tighten the pentagaon belt, the program was scrapped.

One has to do with a personal relationship the President may have with financeers of the company and the other has to do with the military.

Seems like a poor attempt top deflect.
 

Soggy in NOLA

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I just find it funny that this is an issue..and stuff like the Orbital Nuclear Platform and other various failed weapon systems seem to go down the memory hole.

http://www.nytimes.com/2011/01/06/business/06marine.html

The Joint Strike Fighter program cost 300 Billion in total.

:lol:
hmmm...

Comparing the lending of money to a private organization where the administration was warned multiple times that the loan was not a smart loan to a program that was never advised against but, as the progrm moved on, unanticipated and never warned of difficulties arose..so when the time came to tighten the pentagaon belt, the program was scrapped.

One has to do with a personal relationship the President may have with financeers of the company and the other has to do with the military.

Seems like a poor attempt top deflect.
Solyndra and these others that are getting loans is just a way for the left to funnel taxpayer $$ into the Dem coffers.

Not much different from the GM, uhm, I mean union bailout.
 

Sallow

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I just find it funny that this is an issue..and stuff like the Orbital Nuclear Platform and other various failed weapon systems seem to go down the memory hole.

http://www.nytimes.com/2011/01/06/business/06marine.html

The Joint Strike Fighter program cost 300 Billion in total.

:lol:
hmmm...

Comparing the lending of money to a private organization where the administration was warned multiple times that the loan was not a smart loan to a program that was never advised against but, as the progrm moved on, unanticipated and never warned of difficulties arose..so when the time came to tighten the pentagaon belt, the program was scrapped.

One has to do with a personal relationship the President may have with financeers of the company and the other has to do with the military.

Seems like a poor attempt top deflect.
Deflect what?

It's on topic.

Oh..you wanted a "personal relationship".

Well how many personal relationships did the Bushies and Cheneys have with the Energy industry.

Wanna guess how much tax payer money was wasted there?

:lol:
 
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ScienceRocks

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Oil and coal are a good investment as they're proven and work. Solar and Wind is nothing more then side energy producers that are unproven...We're flushing money down the crapper.
 

iamwhatiseem

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I just find it funny that this is an issue..and stuff like the Orbital Nuclear Platform and other various failed weapon systems seem to go down the memory hole.

http://www.nytimes.com/2011/01/06/business/06marine.html

The Joint Strike Fighter program cost 300 Billion in total.

:lol:
Previous wrong doesn't excuse a future wrong.
To this...I know you agree. I also bet you agree that no matter the party - government is, generally speaking, corrupt, wasteful, inefficient and not very effective.
Would you agree?
Then why do you support a big government? The bigger the reach of government - the deeper the corruption, more waste and ineffectiveness.
No?
 

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