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Politics : The Obama - Clinton Disaster
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To: GROUND ZERO™ who wrote (76682)8/7/2012 8:25:19 AM
From: Mad21 Recommendation  Read Replies (2) of 103300
 
See below.
The real question is who benifited financially from the Gov't support.
In other words who did the Govt's financial support buy out and get off the hook.
Given the fact that the news media gives BHO a pass at every possible turn I don't expect they will spend much time on the issue.
mad2




Congress proves Obama himself engineered Solyndra debacle
Though grudgingly provided and universally redacted, documents subpoenaed by Congress from the White House and the Office of Management and Budget now reveal that Barack Hussein Obama himself was responsible for manufacturing the loss of $535 million taxpayer dollars in the 2011 Solyndra bankruptcy.
In 2010, solar panel manufacturer Solyndra Inc. received $535 million in loan guarantees for “innovative technology” under the terms of Barack Obama’s federal stimulus plan. The fact that a Price Waterhouse audit filed earlier that year with the SEC showed Solyndra had lost $558 million during its first 5 years in business, boasted negative cash flow, had no profitable years and featured a “seriously flawed” business model didn’t seem to matter to White House Chief of Staff Rahm Emanuel who delighted Obama’s left-wing, environmentalist supporters by choosing the company as the president’s favorite green energy producer.
But by early 2011, Solyndra was very much up against it. Even a new infusion of cash and very favorable restructuring of existing loans would not afford the virtually bankrupt company much chance of survival.
In February of that year, OMB analyst Kelly Colyar informed the Obama Administration that any attempt to rescue the solar panel manufacturer would be both futile and likely to put at extreme risk any additional tax dollars the DOE might invest in the company. In fact, it was estimated that even an immediate default would cost taxpayers some $141 million. Were that default to be delayed, the cost could rise to 3 or 4 times that initial estimate.
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