Monday, February 25, 2013

Solyndra, a report posted a little late

Solyndra should be placed in the dictionary and defined as "what happens when politicians and bureaucrats play with businessman with taxpayer money". After wasting taxpayer money invested in Solyndra we followed up by spending money having the FBI investigate what happened, bottom line is that the money is gone. The solar panel company  got a $535 million government-backed loan with the help of the Obama White House over the objections of federal budget analysts. The FBI will find that Obama and Vice President Joe Biden got a nice photo op. They got to make speeches about being "green." But then Solyndra went bankrupt, Americans lost jobs, and taxpayers got stuck with the bill.

So forget optics. What role did political fundraising play in the guarantee of the questionable loan even after the bureaucrats warned the deal was lousy. The whole deal really smells bad. I hope voters did not really believe it when the White House mouthpieces promised they were bringing a new kind of politics to Washington. This is not a new kind of politics. It's the old kind. The Chicago kind, the Tribune Washington Bureau has reported that the U.S. Department of Energy employee who helped monitor the Solyndra loan guarantee was one of Obama's top fundraisers. Fundraising? Contracts? Imagine that.

Steve Spinner was the Obama administration official in charge of handing out billions and billions of tax dollars to "green" energy deals. According to the Tribune story, Spinner invited Obama's national political finance committee to a meeting in Chicago. The name of the Obama fundraising initiative? "Technology for Obama." The idea of the Obama fundraisers was, getting together, talking "green," and perhaps offering taxpayer loan guarantees to insider businesses in the interest of helping the environment. It seems that when all was said and done, they helped themselves to our money.

This was another lose-lose deal, compliments of more bad government. In many ways, this whole "Solyndra" debacle is a metaphor for how our government is run. A perfect example in many ways as to why only, a private sector free of crony capitalism, can move us forward. This post was published "a little late" because I'm running low on outrage. It seems one can only stomach so much. As we think about the fast approaching and dreaded sequester, do you really think government is spot on in how it spends our money?

For fun please read;

No comments:

Post a Comment