Thread: Solyndra scandal
September 28th, 2011, 01:14 PM #21
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Big difference, dude.
Private sector money (i.e, Investment capital) is just that...private. Public money belongs to and comes from us all, including you and I. We should have 'solid' investments, not 'pie in the sky' hopes.
Krugman may have a Nobel prize, but he has proven himself part of the problem lately.
September 30th, 2011, 08:44 AM #22Sept. 30 (Bloomberg) -- Solyndra LLC, the solar-panel maker that filed for bankruptcy protection two months after executives extolled its prospects, is being investigated by the FBI for accounting fraud, an agency official said.
The FBI is examining possible misrepresentations in financial statements submitted to the Energy Department, according to the official, who requested anonymity because the investigation is continuing.
“When Mr. Harrison was in my office in July, he said that Solyndra’s future was bright, with sales and production booming,” Representative Henry Waxman of California, top Democrat on the Energy committee, said at a Sept. 23 hearing at which Harrison was a witness. “I’d like to know why he told me that in July, and then filed for bankruptcy one month later.”
It is unlawful for applicants for federal loan guarantees to make untrue, misleading or incomplete statements, according to James F. Bowe Jr., an energy regulatory lawyer with Dewey & LeBoeuf in Washington, who isn’t involved in the Solyndra case.
False statements on loan applications are “very common in terms of fraud investigations the FBI looks at, whether it’s bank fraud, which is more common, or it’s government fraud,” said Daniel D. Roberts, a retired FBI assistant director.Research is what I'm doing when I don't know what I'm doing
September 30th, 2011, 09:12 AM #23
Forgetting that your main motivation is to use every possible story to bash and blame the Obama Administration, so, what are we supposed to take away from this, that corporate executives will lie to get funding? That's a dog bites man story.
The fact is that it's (or should be) a national policy to encourage alternative energy production and the manufacture of solar panels, with American workers.
Are we to say that because of this, the government shouldn't provide any business financial help? Then let's get rid of the Small Business Administration.
As Peter Lehner of the Natural Resources Defense Council writes, "The truth is Solyndra was just 1 of 40 recipients of Department of Energy loan guarantees. It represents only 2.9 percent of the DOE's renewable energy loan portfolio."
In the end, the only thing to learn is to have more checks on who one is writing checks to and really nothing more.Conservatives: "If the facts disagree with our opinion, ignore the facts -- or at least misrepresent them."
September 30th, 2011, 09:14 AM #24
September 30th, 2011, 11:00 AM #25Are we to say that because of this, the government shouldn't provide any business financial help? Then let's get rid of the Small Business Administration.
The problem, wether Obama directed it or not, is that "cronies" are first in line. The CEO's are DNC buddies, or otherwise connected to the democrat leadership.
It's corrupt to the core. Maybe the SBA should run it. They would have turned thumbs down on Solyndra, since the "crater date" was allready known before the loan was approved."The world burns while Obama Tweets."
September 30th, 2011, 12:34 PM #26
Undue influence has not been established.Conservatives: "If the facts disagree with our opinion, ignore the facts -- or at least misrepresent them."
September 30th, 2011, 12:37 PM #27
Not yet. But the damage is done. Crony Capitalism has become the Chicago way, and proof is just a special prosecutor away.
I'm sure Obama's fingerprints are not on it. He never touches anything. Ever."The world burns while Obama Tweets."
September 30th, 2011, 01:03 PM #28
September 30th, 2011, 03:33 PM #29
October 1st, 2011, 11:04 AM #30
Do you belive an earlier sin absolves future sinners from responsibility?
Charles Manson murdered, therefore, it is OK for Ted Bundy to murder..."The world burns while Obama Tweets."
October 10th, 2011, 06:48 AM #31The Treasury Department warned this year that the restructuring of a government loan to solar-panel maker Solyndra LLC might be illegal, newly released email excerpts show.
Those excerpts and other emails released Friday offer a new picture of how the Obama administration may have brushed aside warnings and, in one instance, a possible conflict of interest as officials pushed to support the solar-panel maker.
Other emails released by a government official on Friday show that an Energy Department adviser pushed colleagues in August 2009 to work faster on the Solyndra loan guarantee, despite an apparent conflict: His wife worked for a law firm representing the company.
The adviser, Steve Spinner, was a venture capitalist and fund-raiser for Mr. Obama in 2008 who took a job the next year as an adviser in the Energy Department.
Mr. Spinner's wife is a partner at Wilson Sonsini Goodrich & Rosati, a law firm based in California that represented Solyndra as part of the loan-guarantee deal.
Last edited by mad1; October 10th, 2011 at 04:38 PM.Research is what I'm doing when I don't know what I'm doing
October 10th, 2011, 03:54 PM #32
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