Safe Mode: On
Obama's Crony Capitalism: What the Solyndra debacle reveals about Obama's economic strategy

The president's address on jobs last night included some soaring phrases, but it left out one crucial word that epitomizes his approach to economics: Solyndra.Fourteen months ago, the president was using his sonorous baritone to deliver soaring rhetoric about how his policies helped launch that now-broke company, which made cylindrical solar panels. The administration fast-tracked Solyndra's loan guarantee through the American Recovery and Reinvestment Act—i.e. the stimulus—perhaps because Solyndra's principal backers just happened to have donated huge sums to the Obama election campaign. Washington guaranteed more than a half-billion in loans to Solyndra on the promise of 4,000 jobs."This new factory is the result of those loans," the president said at the Fremont, Calif., facility—a facility The Washington Post termed a "signature project of President Obama's initiative to

-

Added: Sep-9-2011 Occurred On: Sep-9-2011
By: yorba
In:
Politics
Tags: solyndra, fraud, obama cronyism, hypocrisy, greenjobs, political kick backs
Location: Washington, District of Columbia, United States (load item map)
Views: 3342 | Comments: 12 | Votes: 2 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
You need to be registered in order to add comments! Register HERE
Sort by: Newest first | Oldest first | Highest score first
Liveleak opposes racial slurs - if you do spot comments that fall into this category, please report them for us to review.
  • Comment of user 'Riot_On' has been deleted by author (after account deletion)!
  • Green industry is a huge scam to vacuum public funds into the pockets of well-connected sharpies. The Mafia is all over the Green industries in Europe, receiving grants on showing of the flimsiest of business plans and there is no oversight to make sure the money is spent as intended.
    Why should it be any different in the USA? I"ve heard windfarms are a scam too.

    Posted Sep-9-2011 By 

    (2) | Report

    • @khamomil

      Hey, I have to take issue with your opinion that the business plans are flimsy. I helped write some of those plans. My company was (ostensibly) hired by the DOE to assess them so they didn't make a bad investment. Turns out they needed us to rewrite the plans precisely so they could make the bad investment. I almost called John Stossel to give him the dirt.

      Posted Sep-9-2011 By 

      (0) | Report

    • @WillRoberts OK but there is bribery going on to get the business plans approved.

      Posted Sep-10-2011 By 

      (0) | Report

    • @khamomil

      Not sure if bribery is going on, but this crap employs a lot of people and politicians use such programs to buy votes with our money.

      Posted Sep-10-2011 By 

      (0) | Report

  • What a great policy. Take money from businesses that earned it and give it to donors to funnel into their pockets so that they can donate a portion back to the re-election campaign.

    Posted Sep-9-2011 By 

    (2) | Report

  • looks like Odumba is going to be taken down by Solyndragate

    Posted Sep-9-2011 By 

    (1) | Report

  • Hey Yorba, I'm curious what your feelings are about the nearly 2 BILLION dollars in taxpayer funded contracts dished out to Halliburton and its subsidiaries in Iraq. Care to give us a quick update on our ROI on this one?

    Posted Sep-9-2011 By 

    (-2) | Report

    • @picklethepug i can. 1. i'm a conservative (by values). 2. i'm a "mental progressive" when it comes to technology and ideals. 3. dick cheney was VP and used to be employed at Haliburton. That should say enough. Most real conservatives just want our country back. Obama is NOT doing this for us. To defend Obama in spite of Bush Jr and Cheney is NOT the way to go.

      Posted Sep-9-2011 By 

      (-1) | Report

    • @picklethepug Who cares. It went to Halliburton or it would have gone to someone else. Both of us have about .000009% of an idea on what expenditures were necessary in Iraq: Blackwater, infrastructure contracts, etc. Frankly, 2 BILLION is a loogie on the sidewalk compared to Obama's head spinning money wasting. So...what about Solyndra there Mr. Plug?

      Posted Sep-10-2011 By 

      (1) | Report