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Politics : The Solyndra Scandal -- Ignore unavailable to you. Want to Upgrade?

To: Hope Praytochange who wrote (440)	4/9/2012 9:54:02 AM
From: joseffy	Read Replies (1) \| Respond to of 1400

Why Obama is doubling and tripling down on one of his worst and most embarrassing policy mistakes is anybody's guess.

To: Hope Praytochange who wrote (440)	4/9/2012 9:55:41 AM
From: joseffy	Read Replies (1) \| Respond to of 1400

The DOE promised that it will back these new loans only after "rigorous internal and external review of each application." Sound familiar? Energy Secretary Steven Chu said almost precisely the same thing about the $535 million loan guarantee he approved for the solar panel company Solyndra -- that it was awarded only after "proper, rigorous scrutiny and healthy debate" among the responsible bureaucrats. Solyndra declared bankruptcy in August 2011, leaving taxpayers holding the bag. The price tag was even higher than it had to be thanks to a highly unusual (and possibly illegal) decision by the DOE to restructure the loan so taxpayers took a back seat to the company's other creditors.