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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: steve harris who wrote (396301)	7/5/2008 2:27:25 PM
From: tejek	Respond to of 1576164

They tried to float a lie and got called on their bluff and ended up cut and running. Hmmmm.......it doesn't sound like the SFC was the ones that were lying.......more like it was your great president, Mr.Reagan. He did so many bad things and now we learn he squelched any hope of developing altern. fuels when it could have made a big difference today........all because he arbitrarily believed it violated free market principles. Such scheisse.......more GOP crap. The party of the anti-Christ! But dissatisfaction with SFC developed quickly. The Reagan administration complained that the new agency's charter -- providing subsidies to private industry for commercial-scale projects-ran counter to free-market principles. Congressional supporters of the agency in turn challenged the good faith of officers President Reagan nominated to run the bank. (For example, prior to chairing the agency, Edward Noble is widely reorted to have advised President Reagan to abolish the agency.) Before long, complaints developed over SFC's sluggish activity. The agency had initially been expected to approve up to $20 billion in financial backing of loans and product prices to reach its first milestone: the production of 500,000 barrels of crude-oil equivalent daily by 1987. As of July 1985, however, SFC had committed only $1.2 billion toward three projects--and they would yield less than 2 percent of that 1987 production target Congress had set. Then there were scandals, charges of lavish spending and mismanagement by SFC officials (SN: 8/4/84, p. 74).