In investor terms, that translates to risk taking. You realize that private equity and venture capital returns are based on a 90% failure rate. Venture investments are very high risk.

The administration spokesman is indicating that this administration is willing to take risks.

At least he was right on this pick...things that make you go hmmmm.

But emails released by the House Energy and Commerce Committee show that the relevant credit committee decided "not to engage in further discussions with Solyndra" in the final days of the Bush administration. After the change in administration, officials restarted the loan review process for Solyndra.

"A half a billion dollars that was not supported in January under the Bush administration was ... conditionally recommended in March," Rep. Joe Barton, R-Texas, pointed out.

Read more: #ixzz1XwZNdyV9

The emails are the key. They show the WH was pushing 500+ million dollars just to make a political speech. If you or I rammed 500 million dollars through to a project so we could give a feel good speech, we would be fired, and arrested and charged with fraud. Lets hope a proper investigation is done and any criminal acts are punished even if one of the criminals is our very own POTUS. I personally hope he was just stupid enough to be scammed, but politics is politics, and it smells like this was all an attempt to say "Look how great my plan is." Thank goodness we aren't passing bills before reading them. Who knows what types of scams could be in bills like that. We shouldn't be passing things "right away."

I'll wait until some more investigations are completed to make a final judgement, but right now, it doesn't look good for the administration.

nerm: Really? You don't think it has anything to do with this being a big Obama donor? Also, is it really the government's job to gamble away our money?

The lib's don't care, after all it is someone ELSE'S MONEY..

Nerm_L - The problem is the White House is taking risks with OUR money. If Barack Obama and Joe Biden want to sink a couple of their own million into their friend's company, more power to them. Investors in capital equity firms give their money for other's to invest knowing the risk of doing so. I did not sign on for that level of risk - or any risk for that matter - when I sent my tax money to the federal government. The White House ignored the people they were supposed to be listening to as they were yelling BAD IDEA, BAD IDEA, and doing so for purely political reasons. If anyone in the private sector took other peoples' money and invested it in companies their advisors were warning the against, this administration would be putting them in jail - oh wait, that's just what they're trying to do.

You don't play roulette with the taxpayers money and then just say oops, my bad.

dirp - 535 BILLION DOLLARS is NOT a small business loan - jees.

dirp101

SO, if this company had been successful, i.e. if the government actually does things to support small businesses to make them grow, then the government still doesn't create jobs, is that your story ?

I don't think the story hear is that the business failed, it's going to be why did they get a loan in the first place. The FBI doesn't investigate a business just because they failed. There's more to this story, much more.

When are you people going to realize that both parties are going to screw us. The only way to fix this country is to have term limits on all elected office. Once you are elected to federal office you serve a six year term in house or senate, you are finished, never to serve in a federal elected position ever again. Once you serve as president for six years, you are finished. No Gravy train at the expense of the tax payer. The pension you have with the Government is transferable to what ever pension you have in civilian life. We have got to stop making elected office as path to make millions on the backs of the tax payers. I'm sick and tired of the fighting back and forth between both parties, these politicians don't care about us, they only care about themselves and their source of campaign funding to keep themselves feeding at the public trough. Plain and simple.

next generation nuclear is the way to go! thirty new plants in ten years! We can do it! Put people back to work and create hundreds of thousands of jobs at utilities which are actually profitable.

......And now Obama wants another $400 billion or so to fund "shovel ready jobs" that were already paid for by the taxpayers in previous stimulus plans. That money was not spent wisely......anybody else see a pattern here?

Ken -

Yeah, because every one of Bush's picks were winners.

The Bush admin balked at Solyndra because of the risk involved. The TARP that Bush did push through (which I disagreed with at the time) actually paid back over 91% of taxpayer money used, not counting the interest made on the loans as per Timothy Geithner. So 0% vs. 91% return…. you decide which is better.

Nerm -

In investor terms, that translates to risk taking. You realize that private equity and venture capital returns are based on a 90% failure rate. Venture investments are very high risk.

The administration spokesman is indicating that this administration is willing to take risks.

Why is our government “risking” our hard earned money? Especially if the risk is over 90% for failure as you say? Taking some risk is one thing, chasing after a bad business model is another.
The biggest problem with your analysis is that in the private sector, people risk their OWN money, so they have a vested interest in researching companies and making sound decisions. Even then, their rate of return is very low. When the government is risking OTHER PEOPLE’S money, there is less incentive for those officials to properly vet companies and assess risk. After all, those same advisors are still employed, what have they suffered now that taxpayers have lost $535 million?

I’m not in favor of any politicians picking winners and losers in business, especially when those businesses just happen to be donors. Whether its Bush’s ties to oil or Obama’s ties to unions and green energy, its us taxpayers who always end up losing.

Government / Corporate cronyism from both side of the house. Shows you how politicians utilize government as an ATM. We need accountability in government. We need for politicians to go to jail and this crap will stop.

Sorry dirp - I meant 535 MILLION not BILLION - still not a small business loan.

So you are saying that a company that gets a 535 million dollar loan is a small business? Read before you blindly defend.

New jobs plan motto- "shovel ready"

Yeah, the President is ready to shovel a lot of BS to get re-elected.

Yeh, Obama figured out what shovel ready means..... Maybe from associate Van Jones.

Cygnus_X-1

What's the big deal? This is the GOP normal modus operandi. Didnt the White House give Halliburton a $trillion deal to rebuild Iraq? How's that turned out?

It is a BIG deal if you pay taxes because your money is being wasted. If you don’t think it’s a big deal, why are you complaining about Halliburton? Us taxpayers were upset when the Halliburton fraud occurred, we should be just as upset that this fraud occurred.

Regardless of ideology, we should never be so politically motivated that we turn a blind eye to fraud from our own pocketbooks

Ya, and we blew up the Challenger on time and got our bonus for it too.

The pressure to make the bad decisions comes from the top but the decisions themselves are made at a lower level. Still no excuse.

Is this an isolated incident? Or is there a pattern? To my understanding, the GOP is the party with the pattern. And they are especially eager to sling mud every chance they get to help conceal it.

Sad to see the Dems have a shot with Obama and now its all rolling downhill so fast they cant keep up. All they had to do was create jobs and Obama would have been a real rock star, not just a decent orator. Sadly for our nation we were so adamant to have anyone in there other than Bush that we blew it and got a lemon. Nice guy, nice family, but a lemon none the less.. I guess its not his fault really, we are responsible as a nation to pick our own leader and look who we picked.. I mean seriously, what were we thinking? The only thing he has ever ran is his mouth, he hasn't ever accomplished much of anything prior to his shot.. did we really think it would work out with someone so "rookie".. Anyway, moving on I hope we have all learned a valuable lesson.. we've been schooled by the hacks that got him elected and now I guess we will know better "next time". PS.. I didn't vote for him, but I sure as he** have supported him and still will until hes ousted.

Sorry, you nuts try to explain this crap by attacking republicans just will not work.....You can only lie so much before no one believes you.

Nerm_L

In investor terms, that translates to risk taking. You realize that private equity and venture capital returns are based on a 90% failure rate. Venture investments are very high risk.

The administration spokesman is indicating that this administration is willing to take risks.

and there you have exactly why this administration should not be funded, nor should it be allowed to continue. It is not withen the Constitutional authority of the executive branch to "take risks" with taxpayer money. When did it become ok for the government to invest like venture capitalists?

They did it with the banks, with the auto industry, and now with green energy.

dirp101

SO, if this company had been successful, i.e. if the government actually does things to support small businesses to make them grow, then the government still doesn't create jobs, is that your story ?

It is not the government's job to fund small businesses (and Solyndra is by no means a small business)....it is the government's job to foster an environment in which business can succeed through trade agreements and regulation (or unregulation).

Holy_Cow

I don't think the story hear is that the business failed, it's going to be why did they get a loan in the first place. The FBI doesn't investigate a business just because they failed. There's more to this story, much more.

http://dailycaller.com/2011/09/01/bankrupt-solar-company-with-fed-backing-has-cozy-ties-to-obama-admin/

There is much, much more.

and why isn't anyone pointing out that it took 535,000,000 to create 1100 jobs? $486,364 per job and he's traveling around tauting that he wants to do more of this?

This isn't a "hindsight" error.

This isn't "investing in small business". Small business, the cornerstone of new jobs in this nation, are typically $1-$50 million enterprises, not half-billion dollar enterprises.

The government had clear data that this business would fail, and it did, exactly when the data showed that it would. No angel investor and certainly no bank would have made this deal.

This WAS a backdrop for Obama's fraud - the "Green Jobs" scam. Businesses in this industry are failing left and right, because they are not viable.

If it looks like a duck and walks like a duck, it is pretty likely that the President is a con-man and a fraud, and maybe a criminal.

LUCEEEEEEE! You got some 'splainin to do!

One look at their headquarters is enough to tell any rational investor that they were doomed from the get go. You don't do a risky start-up and go begging for money from the Taj Mahal. Start-ups in Silicon Valley are done from warehouses and garages. The Google-Plex comes later. This building was the Domain of Scam Artists playing the part to fool the Naive. They played this administration like a fiddle. Of course we are talking Joe Biden and Barry here. What a surprise they got burned. LOL!!!!

Nerm_L

In investor terms, that translates to risk taking. You realize that private equity and venture capital returns are based on a 90% failure rate. Venture investments are very high risk.

Hmmmmm, you know what Nerm, I have read the Constitution more times than I can remember and I've never read where it says the Federal government is a venture capitalist company or angel investors. Perhaps you can show me where in the Enumerated Powers it says the government can take risks with OUR TAX DOLLARS!!!!!!!

Venture capitalists can invest all the money they want because it's THEIR MONEY, NOT MINE AND YOURS!!!!!!! This is exactly why the government can never be allowed to be involved in ANY investment, they don't care if it's a winner or loser. All they worry about is how it will advance their own personal gains or repay a crony.

You Liberal Progressives scream and whine about the private sectors crony capitalism yet you advocate the government doing the same. Does our criminal and corrupt government think their money comes with some sort of guarantee against a 90% failure rate? NO, it doesn't! If they use MY money to take risks I demand they call me and ASK ME if I agree.

The administration spokesman is indicating that this administration is willing to take risks.

This administration wouldn't know a good risk if it slapped them upside the head. If they did they'd see their $timulu$ "investments have and will continue to be abject failures. The private sector has much smarter people evaluating their investments than our government does because that's what it does. The government is restricted by its Constitutionally mandated powers. PERIOD!

No more, no less.

OMG, I can just hear Matthews, Schultz, Maddow, etc if W. were still the president. Half a billion down the frickin drain. Obama has got to not be re-elected in 2012 for the sake of all of us. At the very least get another libtard to run.

Really we are getting worked up over this? This is a drop in the bucket compared to the rip offs of Halliburton? Where's the outrage for that fiasco? Wasn't Cheney their CEO or something and then they end up getting no bid contracts? Come on now! BUT if there was fraud, then take them down.

For all those concerned about the government risking YOUR money - here is another one. The cost was only $1.4 billion. That is about 3 times the failed Solyndra loan. And the government did not ask the voters if they wanted to invest in this one either.

http://www.aviationweek.com/aw/generic/story.jsp?id=news/b2crsh02238.xml&headline=B-2%20Crashes%20on%20Takeoff%20From%20Guam&channel=defense

Here is another government investment - $4.5 billion apiece. Wonder what the ROI on this investment is ...

http://www.iwar.org.uk/military/resources/aircraft-carriers/cvn-76-uss-ronald-reagan.htm

ChitownMatt

Do any of you even know what Solyndra makes??? Doubt it.

They don't make anything, they went out of business.

Even if you didn't bother to read the first line of the article it's not relevant to the fraud; which is what the article is about.

The progressive/liberals are going crazy. This administration scews the American public and the left will defend them. That is why you progressive/liberals can't win an election anymore. You better get out there and get yourselves a viable candidate for the next Presidental election because you are going to lose the Senate and the House. Do you think the majority of Americans are stupid? Do you think you can continue to bring up Bush and win elections? Do you think you can justify every wasted taxpayer dollar by mentioning Halliburton? I suppose we are just a bunch of racists for being upset with this administration. Right? That doesn't work either. The majority of Americans are smart and are tired of Chicago style politics in Washington D.C.

Here is another government investment of $64.5 billion - that is 129 times larger than Solyndra. Were you asked about this one?

http://www.military.com/opinion/0,15202,187737,00.html

If there is a venue where it is ABSOLUTELY logical to compare the Bush administration to the Obama administration, this is it! The ONLY difference between the two was ENRON was the only company Bush threw money at. ALL the other Federal Money went to Halliburton and the oil industry, ALL of whom had NO need for the money! Let's see, that was, oh, $3.5 Trillion through 2001-2008?

This is a bad situation, but we don't know who the emails came from, we don't know what was communicated to the administration and we don't have a lot of information as to who was the point man, other than Biden.

This is just the tip of the iceberg. Obama also used taxpayer's stimulus money to "invest" in 10 different battery factories. All have done nothing but spew red ink. It's just a matter of time before they go down. How many factories do we really need to produce batteries for the 125 Volts that were sold in July? This administration should stick to Community Organizing because it is obvious that they have no clue when it comes to business.

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.

This is so blatantly indefensible that I can only laugh hysterically at the Lib finger pointers. You guys have no shame! Brings back recent memories of all the Libs defending the Weiner. Hahahahahhahahaha!!!

Wrong Grandma. Bush turned them down. Plain and simple.

The problems start when a 'business startup' is used as a political photo-ops. To those pointing out Halliburton, just wait, Libya is going to need some 'nation rebuilding start-up' and guess who's in line for that contract. Sorry, Obama is Bush on steroids, except his is the 'progressive agenda' whereas Bush was the 'hawk' agenda. We don't need anymore political agendas, we can't afford them/

Nerm_L

You object to the federal government spending tax dollars on defense but you want to try and defend using tax dollars for private companies making solar panels? You have you priorities all screwed up. You must be a progressive/liberal. Say goodby next election.

Military Man

Bush did not help ENRON. They got all of their support through the Clinton administration. How many Clinton people ended up working at ENRON? When ENRON went to the Bush administration for a bailout they were told no. That is why they went bankrupt. You are right about this current news being a bad situation but quit trying to defend this administration with lies about the Bush administration.

Grandma

Read the damn article. Bush had nothing to do with this company.

The government also invested $3.4 trillion of YOUR money. That is 6,800 times what was lost on Solyndra. And has risked another 16.9 trillion. That is 33,800 times the Solyndra loss. How many of you were asked to agree to this?

http://www.usfederalbailout.com/program_details

Maurice-387309

This is a drop in the bucket compared to the rip offs of Halliburton?

YEAH! That darn Halliburton. Boy, am I glad Barrack Hussein said he wouldn't allow anymore of those nasty no-bid contracts with that mean company.

OH OH! Looky what I found.

Bloomberg Businessweek: KBR Inc. [aka Halliburton] was selected for a no-bid contract worth as much as $568 million through 2011 for military support services in Iraq, the Army said.The Army announced its decision yesterday only hours after the Justice Department said it will pursue a lawsuit accusing the Houston-based company of taking kickbacks from two subcontractors on Iraq-related work. The Army also awarded the work to KBR over objections from members of Congress, who have pushed the Pentagon to seek bids for further logistics contracts.

OH MY GOSH! Do you Liberal Progressive TeaBaggee's think Barrack hired Dick Cheney?

Hypocrites!

Nerm - are you actually trying to compare the funding of military jets and ships to funding a private company that has now gone bankrupt?

Our government's main objective, as stated in article 1, section 8 of the Constitution, is to provide for the common defense of the United States.

Your other source is dubious at best and includes TARP funds (although interestingly does not credit back the 91% that has been paid back as per the Obama administration in Dec. 2010) as well as programs created by Obama, Bush, etc. within their treasury departments, mainly backed up by teasury securities. Your source doesn't show the collateral used to back up those programs, they only reference the estimated costs. Still, I disagree with virtually all of those programs.

Nerm will explain it all as soon as he and Obama rewrite their constitution....It is just no ready yet.

It sounds like a screw up, but I think the media is also sensationalizing this story. For example, the money wasn't "loaned," as often referenced. The government provided a loan guarantee. Ever hear of a VA home loan? It's the same concept, the government promises the lenders to make the loan good if the borrower defaults. This is not a new practice. I think the small business administration does the same thing on a smaller scale. And I recall reading recently that several billion in loan guarantees had been made to green energy companies.

It's likely there was some "I know Bob, let's help his company if we can" going on, and possibly some quid pro quo, but the media makes it sound like this is the only company ever to have a loan guarantee from the government. Let's at least report the story in context of the entire program.

Sure is a good thing that it wasn't a no-bid contract to a company that he was CEO for. Oh wait, then there would be no conflict of interest claims from the right! Shame they dropped the investigations into the over-billing during the Iraq war or we'd have more taxpayer money to investigate this administration with.

Wonder what Kent Starr is up to these days. Maybe he can open up an investigation on this and get down to finding out that Obama is the illegitimate child of Mao Tse Tung and Karl Marx!

What difference does that make Dave? Taxpayers lose over half a Billion either way. If we actually made the loan at least we might have collected some interest payments. Instead it's a no brainer for the lender. Collect interest with no risk of loss. Thanks O'Bummer!

It looks to me like this was a bad decision, probably from the start. Every president screws up some things. History judges them on the propoderance of good decisions vs. bad ones.

I won't even start on the last administration and Enron. History will judge (and is already judging, because history starts about 1 second after the event) our previous administration.

Will this be a black eye? I have no doubt that it will, but just like Monika, the GOP will try to turn this into a huge affair when it's just a tempest in a tea pot (pun intended). It's what they do: put up strawmen and distract the public. I'll match the Presidents 500+ million dollar boondoggle against the GOPs tax cuts for millionaires any day. We all know how bad they are hurting.

In the bitter, bitter end, when everyone loses, the rich will lose the most.

Don't worry the NEXT $400 BILLION Obama is demanding congress approve will only be used for legitimate business purposes. (sarcasm)

P.S.

Goodjob NY and Arizona for keeping the Dems out of our nations government. The Anticipation to finish cleaning house in 2012 and 2014 is palpable.

I believe the Constitution meant to provide common-sense defense. The government does not construct those items - the private sector does. CVN-76 can be lost to a system that cost less than $10 million (or less). That is a risk of 450:1 - not good odds for risking public money.

But if you prefer to look at investments in non-defense private sector - here is a $41 billion per year investment. That is only 82 times the Solyndra loan.

http://www.csmonitor.com/USA/Politics/2011/0309/Budget-hawks-Does-US-need-to-give-gas-and-oil-companies-41-billion-a-year

Well timed by Republicans that are balking at passing a jobs bill. This will take the focus of them "doing nothing"......

It was a risky loan. This happens all time in the aerospace/military industries. Airplanes are built that never fly.

The fact is: this green company needed more than a load - it also needed protection from the Chinese. It will take more than money to get our manufacturing jobs back.

this is really terrible... now how much $$$ did GW lose? how much subsidies to the oil companies do we give since the conservatives wont let it end? how much money do we let the rich stash away from the tax cuts for the rich that were supposed to expire but were taken as ransom to extend unemployment benefits? seems like president obama's mistakes are but a grain of sand on a beach compared with the other sides poor choices. i may not like president obama, but he is a thousand times better than any of the alternatives.

ITripleDogDareYou! - You are 100% wrong. Gross government outlays for financial sector 'support' was $4.6 trillion. The net outlay of $3.4 trillion does account for the TARP loans that were repaid. The summary is at the bottom of page, if you actually look at it.

http://www.usfederalbailout.com/program_details

The net 'investment' of the government in the financial sector has been $3.4 trillion - 6,800 times the Solyndra loan. A government investment using YOUR money.

This should not come as a surprise. Obama's BFF Deval Patrick did the SAME thing recently with a "Green" company called Evergreen. The left will give any "green" business money without bothering to check if the investment is worth the risk. Both Patrick and Obama, in their rush to go green, ignored red flags that would have saved the taxpayers HUGE sums of money. But what do they care... it's only money.

Solyndra is an indicator species, represents would-be manufacturers of consumer products rearing to go before technology development is complete and before there can be any expectations for a viable success.

The fact is photovoltaic panels today are scarcely any more efficient than they were in 1980. A magic mineral needs to be discovered that will energize in an angstrom range that matches daylight. To date the angstrom curve of solar sensitive salts is offset from the angstrom curve of daylight so that only the weak corners of the curves overlap. That small area is where the juice comes from.

Research is needed. When the angstrom curve of the salt overlays the angstrom curve of daylight, then we will really have something.

I don't know what the real problems are at Solyndra, but if they have the magic salts they will run your whole house on one panel and that would be a success. At that point a consumer might expect ot get a paycheck each month from the utility provider.

The cumbersome systems we are seeing today will lower your consumption off of the power grid, and your power bill by $100 a month, for an investment of $25,000. I think these systems will need replacement in 15 years because they will wear out.

It may be a bad deal, but it is refreshing to see our tax money being invested in the U.S., instead of being pissed away in Iraq because of 'weapons of mass destruction'....oh wait, I think we have successfully rewritten history enough so that most people think Iraq MUST HAVE HAD some connection to 9/11, despite all of the evidence to the contrary. But, what the heck, deficits don't matter - we are at war after all! Ha, Ha, Ha....fu(king brain-washed Republican sheep, where was all this complaining when W. was pissing our money away?

What the White house spokesman was really saying is, "just because we made a bad decision once doesn't mean that we will stop making bad decisions in the future.

Right. It's what they do. They're politicians. Moreover, no matter which set we elect to take over from this lot, they will make bad decisions also. That's how the program works, or hadn't you noticed?

We elect the group of people we think will make less awful decisions than the current group, or maybe just different awful decisions, or maybe even the same awful decisions because the other guy's awful decisions look scarier. Welcome to America.

Itripledogdareyou, sorry that my sarcasm was lost on you. I was merely steering the conversation away from bipartisanship, in pointing out how the GOP White House has done the same things historically, except on a grander scale. As someone else pointed out, the right-wingers are looking for any little speck to hang on Obama right now. Too bad it's still more than a year out from the election. Lots of time for more GOP screwups and dirty laundry in 2012.

→ THIS IS WHY WE CANNOT HAVE NICE THINGS! ←

The timing of the "committee report" and so-called "investigation" seems just a tad suspect to me. Let's see, the GOP/TP/LDS favorite, Governor Rick Perry of Texas is taking heat for his "Pay to Play" style of handing out government money in the Lone Star State. So, , the GOP/TP/LDS comes up with what they claim is the White House and President Obama doing something similar.

Huh. Imagine that.

Coincidence? I don't believe in them.

GOP/TP/LDS "mis-tatement" of the facts and/or out and out lies? They've got the track record to support that possibility. Let's see, wasn't Senator Mitch "I hate Obama" McConnel who said he'd spend the next two years trying to make Obama a one-term President? Hmmmm. The clincher of course would have been if FOX NEWS had broken this story.

Ok kiddies, here's the bottom line for me, personally. Even if this were true (which I doubt) and even if President Obama took a million in cash under the table to make this happen (no way), I would still take him over any of the GOP/TP/LDS candidates.

I'll take a little (alleged) graft and corruption ANYDAY over two unfunded wars, hundreds of thousands dead, the near collapse of the world's economy and bible-thumping right-wind religious zealotry, all brought to us by the previous administration and espoused by the current slate of GOP/TP.LDS candidates.

America Held Hostage, day 257

Obama/Biden 2012

bill-1260019

how much subsidies to the oil companies do we give since the conservatives wont let it end?

Hey Bill, how ya doin?

Tell you what. The next time your car is running low on fuel, just park it in your garage and fill it up with an electric cord.

WHAT???? You don't own a VOLT? Why not? Barrack Hussein says it's how we will "Win The Future".

This is the problem with you Liberal Progressive Teabaggee's. You denounce the only proven, affordable, available energy sources and have wet-dreams about Barrack Hussein's "Green Initiative" that will NEVER be successfully mandated.

NO industry has ever been legislated or subsidized into existence. The only force strong enough to do that is the free-market. Let the VC's, angel investors and other investors decide if the market is plausible. If anything, give the successful ones, ones that actually make a profit, a tax credit based on increasing revenues or job creation. The DOE has been around for 34 years and we still don't have an energy policy! WHY NOT? Our nation was built on the backs of exportable manufacturing industry. These industries require vast amounts of energy. We have the most natural resources in the world right under our feet. Coal, Oil (conventional and shale-oil), natural gas (conventional and shale-gas) and hydroelectric. We can build the best nuclear power plants in the world. Geothermal (which by the way I have) has been available for decades. Solar and wind is available but is cost prohibitive (I have solar that reduces my carbon footprint to 28% of the average household). Gas is STILL $4 a gallon. If this was George Bush's presidency the media and you Liberal Progressives would be all over him like white on rice.

Until we create the alternative energy sources we MUST use and exploit our own vast natural resources. It can create jobs, as Barrack Hussein says, RIGHT NOW! It can help reduce our debt, RIGHT NOW! It can reduce our dependence on foreign energy, RIGHT NOW!

Why aren't we doing it?

Nerm - I looked at your link and as I said, your source is dubious at best. First of all, they add in $368.4 Billion to TARP from what they deem as “new programs, funds remaining for existing programs”. According to their own source, the quarterly reports of the Inspector General, these funds are either duplicates of line items already mentioned or were unused funds to begin with. Your “source” also shows that none of this money has been paid back, which if you look at the duplicated line items, that is untrue. I guess it is true though that money unused has not been paid back. Reporting it as an expenditure as your “source” does though is disingenuous. Your source also has not updated its statistics for over 3 quarters that have been reported, although those expenditures are calculated. Again, disingenuous.
BTW - I was not in favor of TARP at all and have had to swallow my words because of its relative success.

As for your link on oil and gas subsidies, I believe we agree on this issue. As stated in my previous posts above, I don't believe in the government picking and choosing businesses, whether that be big oil or green energy as in Solyndra's case.

This can be deemed a bad decision by President Obama but will have cost a lot less then President George W. Bush's ties to the Enron Corp. scandal that involves millions of dollars in campaign contributions to Bush, U.S. Sen. Phil Gramm and other members of Congress. The cozy relationship between the Bush White House and Enron enabled Kenneth L. Lay, then Enron's CEO, to meet in secret with Vice President Richard Cheney to help mold the nation's energy policy. Bush's presidential campaign received $1.14 million from Enron.

Shortly after taking office, President Bush waged a battle against the imposition of federal price controls in California that allowed Enron to price-gouge consumers by extending the energy crisis in California, costing the state billions of dollars. Enron reported increased revenues of almost $70 billion from the previous year.

Moreover, while Sen. Gramm was working the Congress to pass legislation favorable to Enron (and collecting nearly $260,000 in campaign contributions from the company), his wife Wendy Gramm first was chairperson of a regulatory committee overseeing Enron's business activities and later a paid member of that company's board of directors. Enron paid her between $915,000 and $1.85 million, according Public Citizen after which Sen. Gramm had announced his decision not to seek reelection for another term in the senate.

When all was said and done the whole Enron debacle cost investors more than $60 Billion, The State of California 40 - 45 Billion and US taxpayers 7 billion because we the people bankrolled Enrons international investments so in total Enron cost between 107 to 112 Billion dollars. Now do we want to discuss the "No-bid" contracts for structures that were to have been built in Iraq by Halliburton, Bechtel etc...That as of today they were paid in full and have not started any of the projects....?

Arizona Grandma-529067

"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."

Sorry Grandma- the evidence shows that the Bush Admin turned the loan down because the business model was not sustainable. THAT is in the paperwork (and in the story which I'm surprised you missed). The issue was dead and buried. Obama raised the application from the grave and gave it approval just 2 months after he took office.

This little baby belongs to Obama and cronies friends!!

Scott - just so you see the Whole Picture. There were no senate or house hearings on Enron. The first week there was talk of it - until the Democrats discovered that 60% of the money given to political parties was to Democrats AND because the Bush Administration told Enron there would be no help.

I also see there was a feeble attempt to pass this failure off to the Bush Administration. Although the Bush Administration was interested in supporting this company, it was the Obama Administration that made the decision.

DB Akron,

So I guess what you're saying is that there is no problem when Republicans lose money... there is no problem when Republicans are involved in shady deals... wonder what the talk would have been like if Obama tortured, threw out Habeas Corpus, lied us into two wars, ran us 8 trillion in debt, ran us into a great recession?

Hey Fraud is Fraud. If there is evidence that someone malicious misrepresented the viability of this company then heads should roll.

But to use this story as a knock against the President is a bunch of crap. If you want to track every dollar that has been spent in the economic stimulus act, got to:

http://www.recovery.gov

No one could possibly expect every single one of them to be successful. Picking one failure and saying that it represents a failure of the entire stimulus act is absolutely ridiculous. How long have the right-winger been waiting for this one?

Did they secretly hope that GM would go BQ after their bailout just so they could pile the blame on Obama?

Nerm - you keep bringing up other examples of where the government made the same bad decision. Thanks for making my point.

This can be deemed a bad decision by President Obama but will have cost a lot less then President George W. Bush's ties to the Enron Corp.

Which will have cost a lot less than Nancy Pelosi's ties to Amgen. This ride goes round and round in circles.

They should all be in prison, someone got paid taxpayer money here!

Obama administration=CONS, We need our country back NOW

The only way to fix this country is to have term limits on all elected office. Once you are elected to federal office you serve a six year term in house or senate, you are finished, never to serve in a federal elected position ever again.

The problem with term limits is that it would be too easy for politicians to pass the buck. They are already FAR too willing to mortgage the future to pay for what they want today. Can you imagine how bad that would be if they knew they weren't going to have to defend their record in front of their constituents in order to keep their job? Something to consider.

This can be deemed a bad decision by President Obama but will have cost a lot less then President George W. Bush's ties to the Enron Corp. blah, blah, blah, blah, blah

Yeah, Bush sucked. Do you think you're telling us something we didn't already know? I thought your guy was supposed to be better? Instead he's George Bush on steroids. Why don't you stop living in the past and own up to the fact that the current President is certainly no better than his predecessor.

I swear I will never understand how anyone can believe that "your guy was bad too" is a valid excuse for anything.

Gee, how many new oil wells could we have purchased with $500 million....and how many real, permanent, well-paid jobs would have been created?

Why does it NOT surprise me that I see a lot of "Bush did this" Bush did that" when the topic of hand is what Obama did? Not surprised at all because the Liberals have nothing to say except what the Campaigner in Chief says- "Blame everyone else for my problems"!

Even on Capital Hill- the Dems were trying to spin this as Bush'e fault- though it was clearly NOT his fault. Bush turned this particualr loan down before he left office. Obama came in, did his voodoo and approved it for Biden's big speech.

For the Libs- STAY ON POINT! This is not about Bush or Cheney or even the Republicans- this is about Obama and how he OWNS this baby! But for the Libs- the ONLY defense is a good offensive statement...

Amen, Geekfish. I''m sick of those deems who piss our money away, blaming all the problems on Bush. Socialism is OK until you run out of other peoples' money

Ken-1575988 (Comment collapsed by teabagger community)

Yeah, because every one of Bush's picks were winners.

You mean like picking a 20-something political hack who knew nothing of economics to set up the Iraqi stock market after the invasion on false pretenses? Flying in tons of US currency on pallets that just seemed to evaporate, or maybe ended up in the pockets of Al Qaeda? Paying KBR to build shower stalls with shoddy electrical connections that electrocuted soldiers?

Those were real award winners.

Backcountry164

Bush was better that Obama he stopped the process of the loan, but Obama so happy to please his base he picked it up and ran with it now look what it got us into 1,100 more workers out of work, the tax payer
is out 500 billion and you have the jack ace running around the country trying to get the country all worked up to pass his jobs bill but he has no clue how to pay for it. Maybe he will pay for it by taking away tax breaks for the rich, tax the private jet owners or just piss off the few job creators left in this
country until all 300 million are not working. It almost fall should we blame Bush for that may as well Obama got you convince that whatever happens in this country was Bush’s fault but I do know one thing the signature that’s on the 500 billion check is Obam’s.

Backcountry164

Why don't you stop living in the past and own up to the fact that the current President is certainly no better than his predecessor.

The wreckage that Bush made of the US economy is NOT in the past. Sure, the Solyndra fiasco is the fault of the Obama administration, but it's the kind of thing that can be expected during the nightmarish first year of his administration, when he was desperately trying to find ways to keep the Bush Recession from deteriorating into the Bush Depression. Solydra was a bad decision, so you can be sure that the Republicans will obsess over so they can avoid acknowledging the good decisions, like the ones that saved General Motors.

JH-718079

Bush was better that Obama he stopped the process of the loan, but Obama so happy to please his base he picked it up and ran with it now look what it got us into 1,100 more workers out of work, the tax payer is out 500 billion and you have the jack ace running around the country trying to get the country all worked up to pass his jobs bill but he has no clue how to pay for it. Maybe he will pay for it by taking away tax breaks for the rich, tax the private jet owners or just piss off the few job creators left in this country

You're exaggerating by a factor of a thousand. It was 500 million, not 500 billion idiot. And the so-called "job creators" have made enormous profits under Obama but they've created few jobs, except for ones overseas in cheap labor markets where they can get workers who work long hours for lousy pay under dangerous conditions.

Wait a minute. I got "collapsed" (comment 1.6) because too many people agreed with me(over 100)?? All I did was use the facts and logic, no rhetoric or crude comments. Sort of looks like I hit a nerve with some people around here. Guess the truth is painful.

don't sweat it JoeNY- I always take it as a badge of honor when it happens- only because what I say had enough edge to it that the libs felt threatened by it! Yours didn't deserve it this time though- not sure why it happened.

The real gold in these threads ARE the collaped comments- on both sides and I ALWAYS read those! I was one of the 111 that voted for you!

Clearly the time line and pressure to make a show at the ground breaking drove improper judgement/behavior motivated by political gains. If this were done by a Republican President it would be called corruption. For the liberal press and many making posts here, it is called risk taking... Sorry the government isn't in place to place bets or be beyond improper behavior. Call a spade a spade please and quit white washing it...

composer #1.11,

Your colossal failure in regards to the financial meltdown __— I hope you are not crediting Bush for that. If you are, please watch "The Warning" for the ins & outs of the financial problems & the people in the Clinton administration. Brooksley Born saw it coming & tried to avoid it & was destroyed by the Clinton economic advisors.

How many of you that are criticizing the White House for the Solyndra loan supported the bail out Bush gave Wall Street? How many criticize the White House for ignoring ref flags but support the administration that ignored the red flags before attacking Iraq?

Let's get real here. The needless Iraq war has cost us trillions of dollars and thousands of needless deaths but you are getting upset over a half billion that was actually intended to improve the jobs market in the U.S. A half billion dollars is only a drop in the bucket compared to the billions of dollars wasted by Halliburton. You can't fix stupidity.

Get Real,

Are you kidding "If this were done by a Republican President it would be called corruption" how about the Billions that have gone missing in Iraq. The fact that Halliburton and Black Water were tied hand in hand with the Bush White House didn't do anything to insulate them did it!

Pure Hypocrisy!

At least the Obama White House isn't blocking the investigation the way Bush and the GOP did over and over!

As for this mess, unbelievable, another example of how our political campaign system corrupts.

Why are we giving middle men money, the very first monies should have been a straight into the pockets of working class Americans in the form of a WPA jobs program. The US could have purchased enough solar panels to take well over 100,000 houses off the grid with 500 million and employed 10s of thousands in the deal.

"just because this company failed, we can’t stop investing in new technologies critical to American leadership in a global economy."

Typical government ineptitude and waste.

Let's see now. $550,000,000 for 1100 jobs that lasted about 1 year. That's an average of $500,000 for each (temporary) job. That's not much better then the $860,000,000,000 in the 'stimulus' bill that the CBO said may have 'created or saved' 1 million jobs - at a cost of $860,000 per job (temporary - since once the stimulus money ended, so did those jobs). Typical government waste.

In contrast, a private industry pays the typical worker about $42,000 per year for a job (permanent) where the worker actually makes something that can be sold at a profit. Typical private sector efficiency.

Gee, I wonder which method is best??????????????????

@Geekfish "

For the Libs- STAY ON POINT! This is not about Bush or Cheney or even the Republicans- this is about Obama and how he OWNS this baby! But for the Libs- the ONLY defense is a good offensive statement..." I will give you a FANTASTIC reason. Because EVERY one of the people you Cons,(if you're going to use names we will too), are putting out there are more of the same CRAP we got with Bush!!! Newt?? Really?? He was a loser in Congress now for some ridiculous reason he would be a great President? Not bloody likely! The fact is, that while Obama has certainly NOT lived up to the hype, going back to the same old failed Republican policies will NOT fix our situation. For that matter, you also have people in your camp on here trying to put the blame for the financial crisis on Clinton!!! Who is living in the past? Truth here is that neither party has our interests in mind. There is only one goal for our politicians get re-elected. The only way that happens is to raise money through doing favors for people WITH money. What that means is the average citizens's needs will ALWAYS come last! It will happen with Obama, it will happen with WHOEVER the right wing puts up and it will keep happening until money is OUT of politics. SO....it will never stop. The fighting between people who hate the "libs" and those who hate the "cons" is EXACTLY what the two parties need. It keeps us from really seeing that they are ALL in on it and while we fight over who "really" cares about us they just keep laughing their way to the bank!

markmich

Wrong, the aerospace industry has always been subsidized throughout its existence. The Wrights may have started out on their own, but to go beyond that point to the airliners we have today has required billions upon billions of dollars of government monies. To this day, the aerospace industry still requires billions of dollars of subsidies.

When Solyndra got a new injection of cash, the government (you and I as taxpayers) became the subordinated loan which is illegal. The investors and hedgefunds will be paid before the taxpayers when they sell assets off to pay bills.

Ah Christian- you actually proved my point which was this story was about the Obama White House, Solyndra, the errant loan made to them and the subsequent bankruptcy. NOTHING ELSE! It was the left that started lobbing bombs to avert attention from the subject matter. Stay on Point was my message to THIS story- nothing else.

To you comment- you actually make some good points, though the term "Lib" is not derogatory. However if it offends you I will be happy to say Liberal in full. You're right in a large part when you say that both parties are not out for the common good of the US. They are ALL on the take somehow- someway. The only redeeming factor I have these days is that the right is at least trying to balance the budget- the left it appears couldn't possibly care less! Funny how the perty just 50 years ago were the fiscal conservatives! How far they have strayed...

I am curious- now that you brought it up- what exactly are you referring to when you say the failed Republican policies? And please define "failed". Something the right has tried is "Trickle Down Economics" and I would say that it was maybe 30% successful- but not a complete failure. The left likes to point that one out. TDE made it down a few tiers- but it never completely got where it was designed to go. So I gave up one- what are your thoughts?

The administration does not appear chastened by the massive failures of the stimulus’ green jobs boondoggle. On the contrary, there are signs that the Obama administration plans to close out 15 green energy loans in haste to beat a September 30th deadline. The administration has already put $18 billion at risk, but if it doesn’t move fast enough, it might be unable to hand out the rest.