The Solyndra scandal thickens....So now we know that Team Obama pushed ahead with a half billion dollar loan guarantee to a solar panels company, Solyndra, that was so shaky the Bush administration recommended a more extensive review before any taxpayer money was directed to it. But Team Obama couldn't be bothered with due diligence n' stuff. After all, the energy sector had to be remade in a more socialist direction, along with health care, the auto industry, the banks....So onward toward "green jobs" and "clean energy" and damn the torpedoes!
Well, now it turns out that not only were the executive and investors suites at Solyndra chockfull of Obama donors and supporters, but members of his own administration were warning that sinking that much taxpayer dough into a company that looked like it was going under was neither a good economic or political strategy. Now we find out that both Treasury Secretary Tim Geithner and the then-director of Obama's National Economic Council Larry Summers were sounding the alarm bells a year ago about Solyndra. Of course, they are now CYA-ing out the wazoo, but they were on the record warning about the catastrophe that looked likely.
Chiming in in support of hurling the half bil in taxpayer dough at Solyndra? Energy Secretary Stephen Chu, recipient of the Nobel Prize. Just because you have a Nobel doesn't make you bright in everything...or even in possession of common sense. Also, then-energy "adviser" Carol Browner, she of the socialist background, and Ron Klain, then chief of staff to Vice President Joe Biden. They won the day and overruled Geithner and Summers, who must be having a hearty chortle over how right they were.
Meanwhile, we're out the $535 million and Obama is getting ready to approve gazillions more to similar "green jobs" boondoggles before the "stimulus" officially runs out at the end of this week. Onward, he says. Damn the torpedoes!