Wednesday, September 14, 2011

Obama's Loan Gone Bad, Bush Rejected


"The White House noted to ABC News that the Bush administration was the first to consider Solyndra's application and that some executives at the company have a history of donating to Republicans.

The results of the Congressional probe shared Tuesday with ABC News show that less than two weeks before President Bush left office, on January 9, 2009, the Energy Department's credit committee had voted against offering a loan commitment to Solyndra.

Even after Obama took office on Jan. 20, 2009, analysts in the Energy Department and in the Office of Management and Budget were repeatedly questioning the wisdom of the loan. In one exchange, an Energy official wrote of "a major outstanding issue" -- namely, that Solyndra's numbers showed it would run out of cash in September 2011."
But never fear Obama threw them 500 MILLION BUCKAROO'S TO FAIL.

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