Solyndra

[Conan71]

Nice defensive spin, but people actually capable of thinking for themselves know better.  The Bush Admin did not advance the loan because they knew it was a stinking POS.

[nathanm]

The Bush Admin did not advance the loan because they knew it was a stinking POS.

So the article's author is a liar? I seem to recall reading a sentence specifically contradicting the assertion that "the Bush Admin did not advance the loan."

[erfalf]

I think this pretty well sums it up.

http://www.washingtonpost.com/blogs/fact-checker/post/obamas-solyndra-shuffle/2012/03/22/gIQAEy4dUS_blog.html

Typical, politicians want the best of both worlds: credit when things are good, and no blame when things are bad.

[nathanm]

I'm still not sure what all the brouhaha is about anyway. We have a long history of subsidizing new energy developments in this country. Modern fracking, for example, was largely paid for by government funded research and subsidies to get operators to actually try it. Sometimes they work out, sometimes they take a while or never pay off. Such is life. Private industry is far too focused on tomorrow to think about what kind of research they need for next year, much less next decade.

Basic R&D, like roads and bridges, improve all of our lives.

[Red Arrow]

So the article's author is a liar?

Could be.

[dbacks fan]

So the article's author is a liar? I seem to recall reading a sentence specifically contradicting the assertion that "the Bush Admin did not advance the loan."

IIRC, the Bush administration pushed forward the program, but did not sign off on Solyndra, that was done by the current administration, so Bush did not give them the loan. I will have to do some research, but I read articles after I actually drove by the Solyndra facility near San Jose that stated that there were multiple existing locations for the plant that were below market value that would meet the needs for the plant, but they were not accepted and the only way the plant would be built was if they built a completely new facility for manufacturing, and corporate headquarters.

[nathanm]

I suspect it had something to do with the over $35 million in tax breaks they got for building a new plant, but I don't know enough about it to say for sure.

Also, LOL. While I was looking for breakdowns of the exact subsidies Solyndra got (you'd think the news media would have it easily available, but most of the folks refuse to do more than quote candidates and their spokespeople), I noticed an article from a few days ago about one of the startups Romney directed Massachusetts subsidy money towards going bankrupt recently. Whoops. Something something glass houses something stones.

[Red Arrow]

I suspect it had something to do with the over $35 million in tax breaks they got for building a new plant, but I don't know enough about it to say for sure.
Also, LOL. While I was looking for breakdowns of the exact subsidies Solyndra got (you'd think the news media would have it easily available, but most of the folks refuse to do more than quote candidates and their spokespeople), I noticed an article from a few days ago about one of the startups Romney directed Massachusetts subsidy money towards going bankrupt recently. Whoops. Something something glass houses something stones.

I have one word for you, plastics.  Well, maybe two....plastics and Lexan.

[Gaspar]

Turns out, not only did they fudge the investment and inventory numbers, but they fudged the layoff numbers:
http://www.baycitizen.org/solyndra/story/solyndra-layoffs-larger-reported/

The investors were paid back, the executives were paid bonuses, and 1,800 workers lost their jobs along with half a billion in tax payer funds.

If Bain Capital had worked this deal, they would be testifying before congress.

"They about had an orgasm in Biden's office when we mentioned Solyndra"-Ken Levit, Executive Director of The Kaiser Foundation