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View Full Version : Obama If you thought $500 Million lost by DOE was bad, Hold on,They aint done yet..$9.2 Bil


HonestChieffan
09-19-2011, 05:57 PM
No shame.

http://www.bloomberg.com/news/2011-09-19/solyndra-flop-doesn-t-slow-9-2-billion-push-to-aid-wind-solar.html

(Bloomberg) — The Obama administration, defying congressional Republicans after the failure of solar-panel maker Solyndra LLC, is working to award as much as $9.2 billion in government financing to renewable energy companies before a Sept. 30 deadline.

Loan guarantees for 14 companies will close by month’s end if the projects meet government lending rules, Damien LaVera, a Department of Energy spokesman, said in an interview. “We want to get as many of these done in a way that responsibly protects the taxpayers’ interest,” he said. “If they meet conditions set out in the agreement, then they’ll close.”

Solyndra filed for bankruptcy protection on Sept. 6, after receiving $535 million in loan guarantees from the administration, and the Federal Bureau of Investigation raided its Fremont, California, headquarters two days later. Republicans have called Solyndra a “poster child” for the failure of clean-energy subsidies awarded by the Department of Energy under President Barack Obama.

“I am very concerned about where the $10 billion DOE has left to spend before the September 30 deadline is going,” Representative Cliff Stearns, a Florida Republican, said at the Sept. 14 hearing of a House oversight panel he heads. “Taxpayers would be better served by not risking even more of their money, instead using it to reduce our mounting national deficit.”

Obama’s stimulus program, passed by Congress in 2009, set the Sept. 30 deadline for loan guarantees for most alternative energy projects. Programs to invest in advanced-technology vehicles and nuclear power plants will continue.

Solyndra was the third U.S. solar manufacturer to fail in a month as lower-cost Chinese panels and weak global demand drive a wave of industry consolidation. Solyndra, the only one of the three with a federal guarantee, produced cylindrical devices that convert sunlight into electricity using copper-indium- gallium-diselenide thin-film technology. Standard solar panels are flat.

ClevelandBronco
09-19-2011, 06:10 PM
It's a good thing our money isn't worth anything.

KILLER_CLOWN
09-20-2011, 02:44 PM
It's all about losing money is winning these days, anyone remember this on 9/10/01?

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Amnorix
09-20-2011, 03:03 PM
It's all about losing money is winning these days, anyone remember this on 9/10/01?



That money got found or whatever. Essentially, the nutcake conspiracy theories around it were pretty thoroughly debunked. That's been thrashed to death on here before.

Backwards Masking
09-20-2011, 04:57 PM
That money got found or whatever. Essentially, the nutcake conspiracy theories around it were pretty thoroughly debunked. That's been thrashed to death on here before.

The most evil "conspiracy" though is the 15 tril debt we owe to keep us and our children slaves to the banking system forever. No one seems to have debunked that one...