Obama Blames Congress For Solyndra

[Trader666]

Were you dropped on your head as a baby?

Quote from futurecurrents:

And yet, what he actually said, vs what you said he said, is correct. The Chinese ARE subsidizing their solar industry. Thus new tariffs on those imports were instituted.

Once again, you've started another stupid, baseless thread based on nothing other than your ill-informed, knee-jerk, partisan hatred and not much else.

 

[futurecurrents]

Well obviously this was a complex deal that sucked-in many people, republican and dem. Bottom line is that blaming Obama for it is naive at best. If the Chinese had not subsidized their panels this probably would not have happened. I'll just post one more thing regarding the payback...

NY Times: Experts Said DOE's Decision To Restructure "Is Routine In The Commercial World." From a September 16, New York Times article:

Bankruptcy experts said Friday that the normal pattern was for the management of a bankrupt company to be given first crack at developing a plan, one that would either distribute ownership of the company to its creditors, in some agreed-upon proportion, or end in liquidation. The Energy Department believes that Solyndra has valuable patents.

Experts said the decision made by the Energy Department in February is routine in the commercial world. "It happens all the time," said Evan Flaschen, head of the financial restructuring group at Bracewell & Giuliani. But, he said, "A new lender coming in is going to want to be the first money out. The new money would want to be senior."

Martin Bienenstock, of Dewey & LeBoef, said that letting in another lender was often "the smart thing to do even though it's painful," because at worst, it would increase the company's scrap value. [New York Times, 9/16/11] http://mediamatters.org/research/201109190020

 

[Trader666]

Continually spinning that it's not Obama's fault is intellectually dishonest at best.

Quote from futurecurrents:

Well obviously this was a complex deal that sucked-in many people, republican and dem. Bottom line is that blaming Obama for it is naive at best...