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Originally posted by Blackmarketeer
Sorry OP not buying the right-wing media spin.
Originally posted by centurion1211
Solyndra was approved in a very fast and furious manner only a couple weeks after the Bush administration had said no.
edit on 9/14/2011 by centurion1211 because: (no reason given)
January 2009: In an effort to show it has done something to support renewable energy, the Bush Administration tries to take Solyndra before a DOE credit review committee before President Obama is inaugurated. The committee, consisting of career civil servants with financial expertise, remands the loan back to DOE “without prejudice” because it wasn’t ready for conditional commitment.
March 2009: The same credit committee approves the strengthened loan application. The deal passes on to DOE’s credit review board. Career staff (not political appointees) within the DOE issue a conditional commitment setting out terms for a guarantee.
June 2009: As more silicon production facilities come online while demand for PV wavers due to the economic slowdown, silicon prices start to drop. Meanwhile, the Chinese begin rapidly scaling domestic manufacturing and set a path toward dramatic, unforeseen cost reductions in PV. Between June of 2009 and August of 2011, PV prices drop more than 50%.
September 2009: Solyndra raises an additional $219 million. Shortly after, the DOE closes a $535 million loan guarantee after six months of due diligence. This is the first loan guarantee issued under the 1703 program. From application to closing, the process took three years – not the 41 days that is sometimes reported. OMB did raise some concerns in August not about the loan itself but how the loan should be “scored.” OMB testified Wednesday that they were comfortable with the final scoring.
Originally posted by beezzer
S&F
I honestly thought Fast & Furious would have been the downfall.
Now this?
It just confirms what those of us have been saying all along.
Originally posted by anon72
What I really can't believe is that some of you still believe you got a better deal with Obama/Biden instead of McCain/Palin. Go ahead and keep telling yourself that-all the way up to the forthcoming impeachment or criminal trials
we would still be in a deep recession and occupying Libya, Egypt, Syria and Iran in addition to still having wars in Iraq and Affghanistan going full throttle.
Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures.
Originally posted by Indigo5
Originally posted by centurion1211
Solyndra was approved in a very fast and furious manner only a couple weeks after the Bush administration had said no.
edit on 9/14/2011 by centurion1211 because: (no reason given)
Wow...False on both counts. You know you can knock the POTUS without outright BSing?
Originally posted by Section31
Bottom line...
Obama signed the bill. Regardless about what happened prior to its passing, Obama was the one who signed across the bill's bottom line. Even though he had been warned by all parties (Reps. & Dems.) involved, Obama ignored everyone as they told him to stop. As a result of not listening to those with experience, Obama blew $500 million of taxpayer's money on a 'known' bad investment.
Bush considered the proposal with certain cautionary stipulations, but they decided it was too much of a risk in the long run. They abandoned the deal.
Obama ignored officials and signed the bill.
Even though both parties got funding by the company, only one of them took the hook, line, and sinker.
Its that simple.
edit on 9/15/2011 by Section31 because: (no reason given)
Originally posted by centurion1211
Originally posted by Indigo5
Originally posted by centurion1211
Solyndra was approved in a very fast and furious manner only a couple weeks after the Bush administration had said no.
edit on 9/14/2011 by centurion1211 because: (no reason given)
Wow...False on both counts. You know you can knock the POTUS without outright BSing?
On Solyndra-gate, cherry pick the news all you want to try and salvage obama's reputation (yet again - getting to be a habit with you), but the facts are the facts.
Fact: The application was turned down under the Bush administration.
Fact: The application was approved under the obama administration - after multiple visits to the White House by a key Solyndra-gate investor who also was a big obama campaign donor.. Can you say QUID PRO QUO? Or do you like the sound of "political cronyism" better? "Government fraud" also works well here.
Fact: Multiple financial people that reviewed the business model said it wouldn't work. Because - and pay close attention here - you can't make a solar panel for $6/watt and sell it for $3/watt. Another financial analyst I saw on television news predicted after seeing the business model and books that Solyndra-gate would be out of cash by September 2011. Hello!!!! It's now September 2011 and Solyndra-gate just declared bankruptcy.
Some people will beat a dead horse, but we have something new here with you effectively trying to resuscitate a dead horse - the obama administration.
Charging! Clear!