Painful to watch.
No one could have seen this coming.
Can you say “Teapot Dome“?
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For the younger set, here’s a brief history on how Teapot Dome and how it lives on as a burden to taxpayers – just local ones this time!
http://newspapertree.com/politics/870-a-b-fall-mansion-preservation-and-condemnation
I wonder how many of these so-called “green” companies were and are fronts to obtain the stimulus money and then go bankrupt after passing a good bit of it to the dims. This is not the first one to go bankrupt. Could these “green jobs”, “shovel ready” cr*p possibly be a scam on the Americn people on a scale close to the global warming scam conned on the world? We know the dims gave their cronies and supporters a major portion of the stimulus money and now it seems the rest of it was bilked from the taxpayers alos. We’re talking about a trillion plus dollars that we know about. What about the billions if not trillions we don’t know about? This is the most corrupt government we have ever had. This guy needs to be impeached before he totally destroys the country. We are financing our own downfall.
Ha! Solyndra, whose CEO was/is a major Obama fund raiser, gets very favorable government guaranteed loans. Shocker! Solyndra folds up the tent, literally overnight. Gee, a manifestly non-economical energy solution fails. Surprise surprise.
Meantime, Oracle is being investigated for possible bribes in Africa (does anyone not bribe in Africa?), Boeing is pilloried for building a new plant and trying to hire 1000, while keeping the Seattle plants up and running too. Gibson Guitars is raided for maybe breaking the law in India. New rule making by EPA will be huge, costly, and worthless.
We are one messed up country at present. Fix it in 2012 or we’re toast.
Like other commenters I have to wonder where the money went. This would be a very good project for the DOJ if it weren’t for the fact that Eric Holder is such a dishonest, lying, treasonous sack of suet.
Obama did say he wanted to run the first billion dollar campaign…. This might put him halfway there!
Solyndra must have had a finance department that complied reports about every aspect of their business on a monthly basis. No business of that size operates without looking at real data about trends so they can make responsible financial decisions.
If they knew that products of reasonably equal value were being manufactured in China and sold for less, how did their financial projections fail to predict their demise? I would bet they tracked their gross sales on a monthly basis and the line sloped steadily downwards. In addition, they most likely tracked their share of the market on a regular basis, and that trend too must have been going steadily downwards. People should ask how they expected to overcome those trends.
If Solyndra could have reasonably seen their eventual demise, and they were still given monies from (or backed by) the government, the next question is, how much of that money eventually made its way into the Swiss bank accounts of company executives or on its way back to the Democratic Party in one form or another?
First: This is a major cave in the MSM’s careful nurturing and protection of the Obama presidency. They got him elected, he’s their baby, and editorial heads are ultimately going to roll when their devoted bias can no longer be sustained. What else are they lying about to American citizens, hey?
Second: BarbaraS is on to something. I wonder how many of these so-called “green” companies were and are fronts to obtain the stimulus money and then go bankrupt after passing a good bit of it to the dims. Solendra’s half-billion is just six ten-thousandths of the 800 billion stimulus. It wouldn’t take much of a rakeoff percentage back to the Democrats, from each of the ‘stimulus’ recipients, to make a billion dollars – hell, ten of ’em – to buy the 2012 campaign.
Come on, MSM, now that the dam of silence has its first crack, let’s shine (finally!) some real light on Obama’s Chicago-style rule of punishing enemies and rewarding friends. Let the American public have all the facts for a change, and let the next election fall out as it will.
How in Hades does $500M just evaporate? I realize it’s mere chicken feed to the average pol, but it’d sure solve a lot of headaches for us average Joes.
Too bad that $500M wasn’t cash, with a nice little dye pack hidden away in the bundle of boodle. Then at least we’d know where the money was going.
Historians will point to this week as the “tipping point” in the Obama Presidency.
How about “Solyndra Green” for a movie title?
LukeHandCool (whose daughter at USC is good friends and classmates with Charlton Heston’s grandson, Jack. Luke missed meeting him when he came to pick up Luke’s daughter for dinner. Luke wanted to say to him, “Keep your hand’s off my daughter, you damn, dirty ape!”
To those asking where the money went?
“Here’s the bottom line,” Lynch said. “It costs them $6 to make a unit. They’re selling it for $3. In order to be competitive today, they have to sell it for between $1.5 and $2.
So, there’s your production costs … and then pay – lord knows what – to 1,100 employees to build this
greenblack hole of a product.Plus, executive salaries, permits, kickbacks, bonuses … and I suspect if we were to take a tour of the place, we’d so no expense spared.
One can go through a half a billion pretty quickly when you’re simply shoveling it into a large hole in the ground.
If you check out their S-1 filing (http://sec.gov/cgi-bin/browse-edgar?company=Solyndra&match=&CIK=&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany) you can get a flavor for this $535m loan. Here’s a company which burned through over $500m in cash, by Oct. 2009 (before the loan was granted), and barely had any reported revenues. The who’s who in Silicon Valley was invested in this deal (all Obama contributors). Under any reasonable man theory, how could the DOE have approved this loan? Hell they took this money and build a brand new factory costing $700m! No wonder these guys went out of business. What a complete waste. Hopefully, taxpayers will get some of their dollars back, but I doubt they’ll get more than 20 cents on the dollar.
If and when republicans hold both the House and the Senate and the WH if they don’t investigate all this disappearing money and other broken laws, I will wash my hands of them. W would not investigte Clinton’s malfeasance (and it was plenty) for the good of the country he said. Too bad the dims didn’t return the compliment. Whereas the dims had NOTHING and finally dropped their multiple investigations into nothing, the republicans had enough to hang a lot of dims from the highest trees.
The current view of the law of the land is so twisted now at DOJ that they may need to quarantine all the non-political employees at DOJ in re-education camps in the event of a non-Democrat President.
You might be surprised at how many policy and procedure writing executives there are in federal service, across the board. The Senior Executive Service (SES) has been “appointed” for years now … ever since the feds removed the top three grades from the Civil Service system and made them appointed positions. There are plenty of political employees. The layer of lard is astounding and they don’t leave with administration changes, they just lean over and adapt to the new guys. They run most of our government. With a few exceptions, most of them have never performed the work they oversee.
Good luck with this system without a serious house cleaning.
What everybody said: scandal scam cronies dishonest lying treasonous irresponsible boodle soylent kickbacks payola con slush racket thugs thieves…
Situation can be summed up in four little words:
Where is the accountability?
Spot On. Starting with the firing of federal Inspector General Gerald Walpin, this administration has been in a death spiral. Based on accountability alone, Obama does not deserve a second term.
I want to explain that hanging dims from the highest tree is a metaphor and not to be taken seriously unlike the CBC that accuses of us actually wanting to do something like that because of the color of their skin. On the contrary, we don’t care about the color of their skin but about the nature of their politics.
This is just another display of the entitlement mentality of the Progressives. Entitlement does not stop at food stamps, checks per month, insurance…the elites feel entitled to promote themselves and their interests with the national treasury supporting their whims.
I hearby declare myself “entitled” to say NO MORE. I am “entitled” to refuse to participate in my own demise. I am “entitled” to ask for and expect accountability from this President and his administration and for real oversight by the congress. Yeah, I’m liking this “entitlement” thing!
The poster child of crony Capitalism in the age of Green madness.
I saw it coming! I wrote about just how messed up that deal with Solyndra was back in December, here: http://zillablog.marezilla.com/2010/12/our-tax-dollars-saved-or-created-jobs.html
There is a much better solar panel company that could have benefited from that money and THEY would not have had to outsource production like Solyndra did (which I wrote about back in December).
This is but one of MANY companies that Obama has given our money to who turned around and gave the work to foreigners instead of Americans. See what I wrote about how Shillary shafted Steuben Glass in the post linked above.
This stinks of corruption, and it stinks badly.
Zilla – I couldn’t find your email address (put it right on top!)on your web site. You may be interested in this:
Darlene Mathis-Gardner, and Systems Design, Inc. Ms. Gardner is in federal court this week, pleading guilty to fraud, where, the Washington Examiner reports, she “faces up to five years in prison and a $250,000 fine” for lying to the government in a proposal.
Systems Design, a Georgetown-based interior decorator, is no fly-by-night operation. They won their first government contract a decade ago, and have, to date, won $9.7 million in government business – and that doesn’t count a $5.4 million contract that was rescinded last year before work began (more on that in a minute).
This time around, Systems Design won a $1.3 million contract to decorate new offices for the Immigration and Customs Enforcement (ICE) agency. In their bid, Legal Times notes, “Mathis-Gardner and her co-conspirators passed off independent contractors as the company’s employees, submitted false information about their background and qualifications, and created fictitious documentation of the company’s past performance in order to convince government officials that they were qualified to perform the work.”
Thanks! Do you have a link? If not, don’t worry, I’m sure I can find it at Examiner. I took my email addy off the blog to cut down on the spam I get, but my Twitter contact info is there. For some reason, Nigerian spammers seem to think I am a muslim man looking for a woman!
IpsoFacto, I used your tip in my new post here, giving you a Hat Tip and also linking to the above LI post:
No One Could Have Seen It Coming… Except For Those Of Us Who DID
Thanks!
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