From The Washington Post:

quote:

By Joe Stephens and Carol D. Leonnig,

EXCLUSIVE | The Obama White House tried to rush federal reviewers for a decision on a nearly half-billion-dollar loan to the solar-panel manufacturer Solyndra so Vice President Biden could announce the approval at a September 2009 groundbreaking for the company’s factory, newly obtained e-mails show.

The Silicon Valley company, a centerpiece in President Obama’s initiative to develop clean energy technologies, had been tentatively approved for the loan by the Energy Department but was awaiting a final financial review by the Office of Management and Budget.

WASH.POST article

Half a billion dollars now down the toilet, rushing the review process just to make a Speech "just right". I'm not suprised.

quote:

Originally posted by toadallyfrogger:
Half a billion dollars now down the toilet, rushing the review process just to make a Speech "just right". I'm not suprised.

This is terrible all right but what about a few hundred billion that nobody knows where it went from the "stimulus". I'm sure somebody got pretty stimulated.

BWAHAHAHAHAHA!!

NANNY FAILS TO MENTION THIS WAS A BUSH BACKED LOAN!!!!

quote:

It's often claimed that the Solyndra loan guarantee was "rushed through" by the Obama administration for political reasons. In fact, the Solyndra loan guarantee was a multi-year process that the Bush administration launched in 2007.

You'd never know from the media coverage that:

The Bush team tried to conditionally approve the Solyndra loan just before President Obama took office.

The company's backers included private investors who had diverse political interests.

The loan comprises just 1.3 percent of the Department of Energy's (DOE) overall loan portfolio. To date, Solyndra is the only loan that's known to be troubled.


....What critics don't mention is that one of the earliest and largest investors, Madrone Capital Partners, is funded by the family that started Walmart, the Waltons. The Waltons have donated millions of dollars to Republican candidates over the years.

What critics fail to mention is that the Solyndra deal is more than three years old, and started under the Bush administration, which tried to conditionally approve the loan right before Obama took office. Rather than "pushing funds out the door too quickly," the Obama administration restructured the original loan when it came into office to further protect the taxpayers' investment.

oh... SNAP!!

bananas now why did you have to go ruin anno..........day? lol

Yes, it was a deal begun in the Bush administration, but it was not on a fast track. The Obama administration put it on a fast track.

The Obama administration saw an opportunity to make some good points on green energy with this fast track. I don't necessarily disagree with the Obama administration picking up on this and putting it on the fast track because it had languished for so long and green energy is still a popular concept and many hope green energy will become economically feasible.

There are legitimate questions, though, on whether the Obama administration ignored potential financial issues early on. Still, it is typical that the Obama administration, when under fire, tries to find a way to blame the Bush administration for their problems.

So ENE you think the whole story should be ignored and only partially told? I think people benefit and learn when the entire history is told but that's just my opinion. I realize the right just wants the black guy to take it without complaining but this is 2011.

I agree with you, Cindy. I think the Obama Administration jumped the gun a bit on this deal. And, you may be right about the administration trying to shift blame to the Bush Administration. But, could you provide some links? I'm not sure the WH has even released any statements yet.

Not ruining my day. There is rain dripping off my garage.

quote:

Originally posted by anonnanny:
Not ruining my day. There is rain dripping off my garage.

catch it and send it to Texas

quote:

Originally posted by sandra stuart:
So ENE you think the whole story should be ignored and only partially told? I think people benefit and learn when the entire history is told but that's just my opinion. I realize the right just wants the black guy to take it without complaining but this is 2011.

What a racist remark!

quote:

Originally posted by flybananas:
BWAHAHAHAHAHA!!

NANNY FAILS TO MENTION THIS WAS A BUSH BACKED LOAN!!!!

Nanny failed to mention? Anyone that has been following this story closely knows that the loan originally came under the Bush administration but was denied by the DOE Credit Committee for a "conditional commitment" because they basically built something for $6 and sold it for $3. So, the loan was denied by the Bush admin because it was shown to be a bad deal.

Also, the emails that have been released regarding this show that Biden asked if the deal was a bad idea, the response was "This deal is NOT ready for prime time,". To top it off, two years ago, an analysis of the business model of Solyndra done by the Energy Department, showed that that the company would run out of money by September 2011...yet it was still ignored by the President and his advisers to get that photo op for green jobs. All of this done within three months of the Bush Administration denying the loan.

quote:

Originally posted by flybananas:

quote:

What critics fail to mention is that the Solyndra deal is more than three years old, and started under the Bush administration, which tried to conditionally approve the loan right before Obama took office. Rather than "pushing funds out the door too quickly," the Obama administration restructured the original loan when it came into office to further protect the taxpayers' investment.

oh... SNAP!!

I just love it you think you have these "gotcha" moments.

"Restructured the original load when it came into office to further protect the taxpayers' investment"? Oh thats a hoot. What he did was approved a loan that left the tax payer holding the bill if the company failed...which is exactly what happened and was exactly what he was told would happen while he was wanting it approved.

quote:

Originally posted by podunk:
I agre with you, Cindy. I think the Obama Administration jumped the gun a bit on this deal. And, you may be right about the administration trying to shift blame to the Bush Administration. But, could you provide some links. I'm not sure the WH has even released any statements yet.

Po, there are hearings going on about it as we speak.

so restructuring a loan to protect tax payers is now considered a "fast track"?

quote:

Originally posted by flybananas:
Rather than "pushing funds out the door too quickly," the Obama administration restructured the original loan when it came into office to further protect the taxpayers' investment.

quote:

" 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."