Monday, October 3, 2011

“I’m not sorry we loaned Solyndra $535 bil dollars in tax payer money”

The President of the United States, Barack Obama, gave his first verbal comment on the government subsidized, stimulus funded, “green scam”, to the private company known as “Solyndra”.  I will not re-write POTUS’s words, I have merely pasted the words as they were printed in the LA Times.  The LA Times did not use the exact language that I heard on the radio from Obama’s own lips;  “I am not sorry for the loan to Solyndra!”  Excuse me?  You’re not sorry?  What an outrageous, narcissistic thing to say!  $535 billion dollars were loaned to a company that was not financially qualified to repay the loan. $535 billion dollars were loaned to a company who's financial P&L showed that it was more likely that they would go bankrupt by September of 2011, than they would be a financially viable success.  $535 billion dollars were flushed away$535 billion “taxpayer” dollars were wasted on a zero sum gain, that should have either never been spent or used to pay down the debt.  What kind of a tone-deaf, buffoon is serving as our Commander-in-Chief?

Sorry for the rant, but some things do require venting.Sus Devp (small)

Yours in Truth, Shelly

Obama defends loan to Solyndra, calling it a 'good bet'

In a short but wide-ranging interview, the president spoke for the first time on the collapse of Solyndra, the solar start-up company that got a government-backed loan in 2009.
The question arose shortly after Democrats on the House Energy and Commerce Committee released copies of internal emails in which senior administration officials warned against having Obama visit the company as its financial troubles piled up.
Obama said the loan guarantee program is working well overall, despite the fact that "not every single business is going to succeed."
If the U.S. wants to compete with other countries that are subsidizing "industries of the future," Obama said, the government has to make sure American companies "get a shot" to compete.

"Hindsight is always 20/20," Obama said. "It went through the regular review process and people felt this was a good bet."

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