Inserting reality into Obama’s spin on Solyndra
March 23, 2012 – 08:22 | by admin“It is true that “Republicans and Democrats” approved a green energy loan guarantee program. But “Republicans and Democrats” did not approve this loan guarantee program. As FactCheck.org reminds us, the program under which Solyndra was handed $500 million in taxpayer money was authorized in the Obama/Reid/Pelosi partisan “stimulus” bill of 2009. Zero House Republicans voted for that law. Also, a previous Solyndra loan application was explicitly rejected by Bush-era actuaries because of its inherent soundness problems. Some of Obama’s bookkeepers continued to warn against its approval, but they were overruled by the White House political team because the president’s allies were determined to make the company the “poster child” of his green vision. That’s also why Obama ignored internal worries and held a big presidential photo-op at Solyndra’s (now-defunct) factory. The list goes on: Obama DOE officials sat in on Solyndra board meetings. One of Solyndra’s top investors, George Kaiser — who just happened to be a major Obama campaign donor — also just happened to make a flurry of White House visits right before the doomed loan was given the thumbs-up. Kaiser and the White House claimed they didn’t discuss Solyndra during those meetings. They lied. We also know that even after Solyndra defaulted on its initial loan, Obama’s Energy Department conveniently restructured the loan terms, assuring that investors like George Kaiser would be first in line to get paid if (when) the company went belly-up. Obama owns this mess, and he knows it. But he’s obfuscating and dissembling to save his own skin.”
— Guy Benson writing at Townhall.com. Read the whole thing.
Tags: Barack Obama, economy, energy, incompetent, one-term President, Politics, Worst President Ever