Obama’s Solyndra Talking Cure Fails

Little scandal, big story

This is the Obama I voted for. The caretaker. The hamstrung wunderkind. The graying, toothless, scandal-ridden executive, vainly proposing high-minded laws and stimuli that die in the legislature. My favorite kind of president: the kind who can't get anything done.

The scandal over Solyndra, a Fremont, California-based maker of tube-shaped solar panels, has only gotten worse since President Barack Obama tried to defend his command-economy principles to a polite press corps last week. Shortly after Obama's lackluster press conference on Thursday, Jonathan Silver, administrator of the Department of Energy’s loan guarantee program, announced he was leaving his powerful and prestigious federal government job for the opportunity to become a “distinguished visiting fellow” at the Third Way think tank. 

On Tuesday, Solyndra itself coughed up CEO Brian Harrison, announcing in bankruptcy court that Harrison, who was in charge as Solyndra obtained a $527 million taxpayer-guaranteed loan and subsequently went bankrupt, had left the company "as scheduled." 

Solyndra dead-enders have tried to downplay Silver's departure from the Energy Department. So has the Obama Administration.

“Because of my absolute confidence in Jonathan and the outstanding work he has done, I would welcome his continued service at the Department, but I completely understand the decision he has made,” Energy Secretary Steven Chu said in a statement about a job change that could most charitably be described as awkwardly timed. “Under his leadership, the loan program has demonstrated considerable success, with a broad portfolio of investments that will help American companies compete in the global clean energy market.” Chu claims that Silver made his decision prior to the Solyndra bankruptcy and Silver’s disastrous testimony to the House Committee on Energy and Commerce. 

Human sacrifice is the food of politics, so career crashes like these are to be expected. Note that Silver has now been sacrificed twice—first in having to testify over a loan that was made two months before he took office, and now as the preliminary to Chu’s highly probable departure. 

But Solyndra has been remarkably lethal for a hubbub that only surfaced because House Republicans made an issue of it. Whether you believe Americans are not interested in Solyndra, have not heard enough about it from the establishment media, or are too smart to be fooled by a “faux scandal,” one thing stands out: Like the originally marginal Occupy Wall Street movement, Solyndra keeps getting bigger the more it is belittled. 

It also continues to generate side troubles. Human Events' Neil W. McCabe reported Wednesday on another green energy company with close ties to Golden State Democrats that has lately come into a big federal loan. You may not share McCabe's judgment that San Jose-based SunPower will be "twice as bad" as Solyndra or his confidence that the company is doomed. But the drumbeat of publicly funded green-job disappointments is turning what had been the president's signature industrial policy into a grinding, extended walk of shame: 

How did a failing California solar company, buffeted by short sellers and shareholder lawsuits, receive a $1.2 billion federal loan guarantee for a photovoltaic electricity ranch project—three weeks after it announced it was building new manufacturing plant in Mexicali, Mexico, to build the panels for the project.

The company, SunPower (SPWR-NASDAQ), now carries $820 million in debt, an amount $20 million greater than its market capitalization...

Two men with insight into the process are SunPower rooter Rep. George R. Miller III, (D.-Calif.), the senior Democrat on the House Education and Workforce Committee and the co-chairman of the Democratic Steering and Policy Committee, and his SunPower lobbyist son, George Miller IV....

The congressman hosted an Oct. 14, 2010, tour of the plant with company CEO Thomas H. Werner and Interior Secretary Kenneth L. Salazar to promote the company’s fortunes.

“The path to a clean energy economy starts here, in places like SunPower’s research and development facility,” said Salazar during the tour.

As the bad news continues to pile up, Obama is consistent in his notion that it's possible to make the problem go away with sugary words. At his press conference last week, the president gave his most complete response on Solyndra to date, but the responses were nothing new:

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  • ||

    I dunno if this has been addressed in another Solyndra thread: why can you see through that solar panel?

  • fish||

    I'm hoping that it doubles as effective prison bars and that they at least manufactured enough to enclose congress and the executive.

  • ||

    Part of the government's commitment to transparency.

  • Scruffy Nerfherder||

    Cylindrical solar receptors so you don't have to realign as the sun changes relative position to the panel.

    Novel concept for fixed panel installations (home roof), but too expensive to compete with traditional flat panels. Since solar is all about watts per capital dollar, the cost of manufacturing edge that flat panels have was too tough to beat.

  • ||

    ah, thanks.

  • Ice Nine||

    Solyndra thread: why can you see through that solar panel?

    Well, they were made by a solar panel manufacturer that went bankrupt after all.

  • ||

    Let's have a caption contest.

    "Get away from her you BITCH!!!!"

  • Fluffy||

    "But look! Over there! Hippies occupying a park!"

  • ||

    A public relations firm's idea of a popular protest.

  • "Iran, Iran, terrorism!!!!"""||

  • "No, Uganda Uganda"||

  • fish||

    As the bad news continues to pile up, Obama is consistent in his notion that it's possible to make the problem go away with sugary words.

    A little late in life to change his approach now.

  • ||

    But the Solyndra scandal is far from Kaiser's first brush with political controversy. As the Sunlight Foundation's Bill Allison reports today, Kaiser has become extraordinarily wealthy by taking advantage of the federal tax code in ways that some tax experts - including the IRS - believe to be illegal.

    Yet more and more fuel to add to this fire. I hope they hedged with the appropriate level of carbon credits.

    MNG, would you like to come to OK and Ken Feinberg noted philanthropist George Kaiser's ass?

    (Yes, I just made "Ken Feinberg a verb.)

  • Sparky||

    Ohhh, very clever alt-text on the first picture. I see what you did there.

  • Tish Modrenwurld||

    We should colonize Kepler-16b. That way we'd get double the solar power.

  • rts||

    Scandal? Outside of Drudge linking to deeply buried stories and Reason, I've barely heard a peep in other media sources about this or Fast and Furious.

    So... what scandal?

  • ||

    I know--if you got all of your news from ABC, CBS, NBC, and CNN you would likely never heard of Solyndra.

  • ||

    MSNBC puts scare quotes around scandal, so that proves there's no story here.

    Racist.

  • rather||

    The problem with any 'resignation' is that the creative department has not come up with an unused reason:

    #1 announced he was leaving his powerful and prestigious federal government job for the opportunity to become a “distinguished visiting fellow” at the Third Way think tank. USED

    #2 had left the company "as scheduled." USED

    #3 sent pictures of my dick in the mail and my wife is pissed." STILL AVAILABLE

  • PIRS||

    How about "decided to pursue his lifelong ambition of discovering new species of wildflower while hiking through the Amazon Rain-forest.

  • ||

    “If President Obama believes that we should borrow billions of dollars from China to subsidize American businesses trying to compete with China then he doesn’t understand this country’s economic system,” Stearns said in a statement. “We should not be picking winners and losers, which is a fundamental flaw in his stimulus scheme.”

    That's why this is important. It exposes the fundamental incompetence of the Obama Administration. They don't understand how the economy works or why their well-meaning ideology doesn't work in the real world.

    That's the most important point about this, but there are other concerns too...

    "Solyndra was promoted to the Navy by RockPort Capital, one of the firm's largest investors and board members, which has a seat on a Pentagon panel that helps the government find emerging technologies.

    RockPort recommended Solyndra to the military, along with four other companies."

    ----Wall Street Journal, like ten freakin' minutes ago.

    http://online.wsj.com/article/.....62792.html

    Gee, a Solyndra investor and board member with a seat on the panel that helps the Pentagon decide which emerging technologies to invest in?

    What could go wrong?!

    There's no question that when the government is picking the winners and losers, it invites all sorts of conflict of interest questions--but I still don't think that's the main point we should be making to our friends and family.

    The problem with the Obama Administration picking winners and losers in the market--isn't that they only pick their friends. Even if they were fine, upstanding individuals with our best interests at heart--this form of central planning doesn't work for the same reason every other form of central planning doesn't work.

    Central planning fails no matter whether the central planners are properly motivated. If we focus on the conflicts of interest, we make people think the problem with central planning is that we need better politicians doing the central planning.

    And that just isn't so.

  • ||

    You should name that idea "The TOP.MEN. Hypothesis", or the longer-winded "The With The Right People (ie my team) In Charge Hypothesis."

    And is hypothesis the right word? Since we have plenty of historical evidence of the failure of central planning, is it elevated to "theory"? Was there a classification in between hypothesis and theory? I'm too lazy to go refresh myself on scientific method.

  • ||

    And is hypothesis the right word?

    I believe "fallacy" is what you are looking for.

  • ||

    i'm referring to the phenomenon that people keep falling for the fallacy. a hypothesis/theory of that phenomenon.

  • db||

    When Top.Men. fall for a fallacy, the government proceeds to get phallus-y with the Bottom.Men.

  • BradK||

    Wishful thinking? Voluntary self-delusion? Mindless hero worship (as in, it's not the idea but the person spewing it that matters)?

  • ||

    I think I know what you mean.

    We need something like the "No True Irishman" label for the fallacy or the "Slippery Slope".

    A little analogous term to help people grasp the fallacy--so they can call each other out for it on the interwebs and elsewhere using just a short phrase.

    Maybe it's the "Heart of Gold" fallacy: the belief that inherently flawed systems would right themselves if only the man in charge had a heart of gold.

    That's basically what we've been up against with Obama since day one! There are still masses of pitiful people out there who think Obama's demonstrably stupid ideas will work because Obama has really good intentions--a heart of gold.

    If we had a catchy name for that fallacy, it would be easier to debunk.

  • BigT||

    How about science...

    "Science is the belief in the ignorance of the experts" – Richard Feynman

  • ||

    I wonder how much the administration counts on the media to completely ignore its criminal activity? I'm thinking: a lot.

  • ||

    Entirely. I'm starting to think that there's no fewer than four possible avenues towards impeachment, if the media would simply stop shielding their preferred political party. That's aside from all of the unconstitutional crap all presidents engage in.

  • ||

    It also starkly illustrates how little the media gives a shit about truth or honesty, or even justice. But we already knew that from how they cover criminal justice stories anyway.

    Think about it: in all of the media outlets in the entire US, there is basically one single reporter--Radley--covering mistaken convictions.

    One.

  • ||

    It also starkly illustrates how little the media gives a shit about truth or honesty, or even justice.

    The media exists to make money, via subscriptions and ads. The schtick about truth and justice and fighting the power and all that is just so much marketing eyewash.

  • ||

    I agree, and I'd be fine with that if it were generally accepted.

  • Market Failure||

    This is why the media needs to be nationalized.

  • ||

    Lol. Nice trollin' there.

    Hell, maybe the Administration should've nationalized Solyndra, thereby "creating or preserving 2.4 million jobs". (using a popular Obama Multiplier)

  • Goebbels||

    It worked for us!!

  • ||

    Recent years have totally destroyed the notion of the traditional media as any kind of Fourth Estate, critical to the functioning of our republic. We're fortunate that newer media have come forth to prevent that from being a fatal blow to our political system, but given the beliefs that journalists have about their function, it's incredible how different the reality truly is.

    Spin is not truth. Lies are not truth. The ends rarely justify the means. Credibility is easy to lose but hard to get.

  • ||

    That's why I have some faith in the Wikileaks model.

    People have been leaking on their superiors since the XYZ affair. ...and now it's easier than ever.

    We need no stinkin' 4th estate gatekeeper. The whistle-blowers can bring the news straight to the idiot masses.

    It took us thousands of years to develop a workaround for the "Noble" Lie. We put our faith in the press to defend us, but they just became purveyors of the Noble Lie. Now it's from the keyboards of whistle blowers and the phone cameras of everyday people straight to my eye.

    Gettin' those Noble lies out and digested has gotta be gettin' harder.

  • ||

    Oh, my wonderfully cynical an-cap friend, the media is the remora of this shark known as the Obama administration, they know how the game is played.

    With the advent of new media, and this administrations penchant for restricting press access, the traditional media knows where their bread is buttered. It's a mutual relationship, and both sides know it.

    Notice how the major networks appear to trade off their criticism of this administration? It's worse than a six man tag team pro wrestling lucha libre match. Excepting F-and-F; Sheryl Attkisson deserves a medal for her work on that story.

  • ||

    The thing is they still pump out their "we are the 4th estate" shit en mass, and it irritates me. It's like they actually believe it.

  • ||

    Some of them may believe it, but mostly they just want us to believe it.

  • BradK||

    Even more so, they want need their advertisers to believe it.

  • ||

    And she's now reporting that the feds were allowing grenades to go into Mexico! This is indeed the whiskey tango foxtrot administration.

  • ||

    The media will turn on him the moment they think he is going to lose and has become a drag on liberalism. I am thinking about mid October 2012 when he is down ten or fifteen points in the polls, the media will suddenly "discover" this administration's scandals. Then the story will be Obama was undone by his cronyism and sleaze instead of his being a liberal. They will always protect the movement.

  • ||

    Let me give you and idea about how horrible the media is. On the day of the fucking election in 2008, when was obvious that Obama was going to win, the New York Times ran an honest story about how GUITMO was full of really dangerous people that couldn't be let go. After seven years of lies about that place, they finally told the truth when it was going to be a Democrats' problem. No words are too harsh for those scumbags.

  • Eliza Cassan||

    It is so easy to shape perceptions.

  • Tman||

    First of all, Jonathan Silver is not exactly innocent in this whole mess. He did take the job at the DOE after the loan was finalized but he was there when they restructured the loan. Senator Tim Murphy asked Silver who was in charge and whose fault was it that this loan turned out so disastrously.

    The reality is that Silver did have a chance to pull the plug on this loan and the restructuring but for some reason (*cough-WHITE HOUSE DONOR DEMANDS-cough*) he did not.

    This scandal has the potential to be a lot worse for the administration.

  • Tman||

    Also Suderman, I am surprised you didn't link to that nice McCardle lady who put together a very fine post full of pretty charts that details exactly where and to whom all the money has gone in regards to all of the DOE loan programs.

  • Sparky||

    Suderman might have but I don't think he was expected to do Cavanaugh's work.

  • Tman||

    D'oh!

    Comment fail. Still, maybe Suderman could've told Tim. They are like family, no?

  • Tim Cavanaugh||

    Agreed. Solyndra has more subplots than Watchmen, and I can't touch on all of them at once. In fact, the really bad stuff is all after-the-fact (i.e., after it was clear that the company was a goner) maneuvering like this.

  • Tman||

    I think the most scandalous aspect of the whole saga is the restructuring of the loan that screwed over tax payers in favor of the Obama's campaign contributors. This is the part that Silver had a hand in, and he danced like Fred Astaire when Lee Terry (R-NE) asked him if he had any contact with the White House during the restructuring. Silvers answer is somewhat, um, unsatisfactory.

  • ||

    Of course, any answer but "No" is "Yes."

  • Tman||

    Also, Rep Steve Scalise also asked Silver the same question, and again Silver was not entirely forthcoming.

    Who In Obama White House Made Decision To Put Taxpayers At End Of The Line For $535 Milllion Loan?

    COME ONE MSM!!! THIS STORY IS DRIPPING WITH JUICY SCANDAL!!!

    Yeah, I know. I'm dreaming. Obama is the chosen one. Teflon has nothin' on him.

  • ||

    It wouldn't be fair for The Media to deprive their loyal fans of important news about Roseanne Barr to cover boring minutiae about government subsidies for preferred insiders.

    You people are heartless.

  • Holy Cow||

    Imagine....

    Imagine if (cue evil music) GW Bush gave one of his greasy Texan oil cronies some gubmint money. And then poof! Money gone, company bust. And it turns out, the wealthy goodfornothing CEO gave Bush campaign cash.

    Every single newspaper and news broadcast would lead with: "Bush Campaign Donor Absconds with YOUR Money."

    From SNL to SpongeBob to Barney down to the always silly NPR, there'd be jokes and one-liners, all sprinkled with anger toward Boooosssshhhhh! Oh, the humanity. There'd be calls for impeachment as well as peach pie throw in Bush's face. Old ladies would lie prostrate on the street in outrage, too weak from hunger while the CEO eats mink-grown caviar. We'd hear cries of "Hoover," "Nixon," "Hitler" and "racist" all while calling for every single Republican voter since the dawn of time to be sent to hell in a broken down Prius.

    So, uh, what scandal? From the mainstream reporting, some minor company with ties only the GOVERNMENT had some sort of money issue--and speaking of the real issues, aren't all the R candidates anti-science racists who drink the menstrual blood of shaggy wolves at dawn?

  • BushPig Obama.....||

    "you can't pin that rap on me!"

  • Holy Cow||

    I mean, Jeebus Krist, people!

    Remember when A. Gonzalez fired the 93 judges?! How can justice ever be served again?

    How can our country survive without Val Plame at Quantico?!

    The day that Dick Cheney accidentally shot his friend during a Duck Hunt was the day that changed America forever!

    What about the stolen Jackson Pollocks at the Iraqi Art Museum?! Worst wartime blunder ever!

    When John Ashcroft covered the naked statue, it was as if-- As If-- AS IF he wiped the Constitution on Bin Laden's ass!

    When Bush landed on USS Abe Lincoln under the Mish Accomplished sign, I immediately became the victim of a Wall St. predatory lender with ties to big Oil who drained my 401k by denying stem cells to my leukemia ridden mother!

    And you ask about Solyndra? Who cares?

  • BushPig Obama.....||

    "I'm too busy fighting global terrorism to care."

  • ||

    Why shouldn't he think that Solyndra will just go away? 99% of the proles have already forgotten about Pigford.

  • ||

    I haven't, but that one was dressed up a reparations, and there is still enough White Guilt to let that one slide.

    Just like the New Black Panthers voter intimidation case.

    This one isn't tinged with a racial element though, and it goes towards illuminating (heh) a good deal of the American public's skepticism regarding the viability and cost-effective aspect of Solar and Green Energy projects.

  • ||

    I cannot wait to see who puts their own money into Obama's green tech venture capital fund when he leaves office. I bet it'll be oversubscribed, and people will be on the sidewalk outside his Wall Street HQ gouging each others' eyes out trying to get a seat on the gravy train.

  • EcoPig Gore||

    "I've earned my spot right in front of the line -- so move outta my way."

  • sevo||

    Didn't see it in the article, but a principal in one of the private investors had an official position and might have used it:
    "A Boston firm that was one of the lead private investors in Solyndra tried to land Navy deal [...] this company reportedly used its seat on a Pentagon technology panel to promote the now-bankrupt solar company for a U.S. Navy contract."
    http://www.bizjournals.com/bos.....kport.html

  • Pay no attn to solyndra...||

    Obama has a new threat to deal with: He just deployed combat troops to Uganda, you know that African country that has been attacking America......

  • ||

    Uganda? Really?

  • ||

    It's about time. Did you see Last King of Scotland? That Amin has got to go.

  • ||

    Yes I did. What a great movie. I watched the Robert Downey Jr. Sherlock Holmes movie this week. It wasn't bad if your forgot the name and just pretended it was just a movie instead of a brutalization of the SH novels. The only problem was that even though she is smoking hot, Rachel McAdams is really a terrible actor. Every scene she was in was painful.

  • ||

    End the Scottish occupation of Uganda!

  • ||

    Forrest Wittiker is one of the most underrated actors of this generation. He was just awesome in that movie. One of the few deserved Oscars this decade.

  • ||

    I've liked his work for a long time.

  • BakedPenguin||

    Amin? Who's he? The guy they really need to get rid of is that goddamn Whittaker Forrest.

  • ||

    Yeah, what kind of name is that, anyway? Clearly an enemy of freedom.

  • ||

    Who? The dead ex-commie?

  • 35N4P2BYY||

    "Combat Troops" of this ilk have been in sub-Saharan Africa for a very long time. Not that I am condoning or condemning, 'jus sayin.

  • Apparently, this time....||

    ....Born-Again Barry is hunting down Ugandan Christians.

  • 35N4P2BYY||

    Yes, that be the case... Joseph Coney and the LRA is the new hip thing, UBL and AQ are sooo 2001.

  • Pay no attn to solyndra...||

    Obama has a new threat to deal with: He just deployed combat troops to Uganda, you know that African country that has been attacking America......

  • ||

    Yeah, what's up with that and where is the Congress? I guess when Obama saw them blink on Libya and the War Powers Resulution, he thought he could get away with anything. So can he?

  • Incentives Matter||

    If Obama's new best friend, Bro. Buffett wouldn't put his money in Solyndra or any "green" energy company, then why the taxpayers. But wait, it looks like Buffett is willing to up his tax bill to cover this one for his buddy Obama. If only Obama were smart enough to ask and Buffett were really dumb enough to pay up.

  • 35N4P2BYY||

    An aside, it kills me that Buffet who, as I understand it, has made his fortune trading primarily in paper securities. Paper merchants like Warren Buffet are supposedly the bane of humanity that the "Occupy location X" movement is angry with. But Buffet eludes all of the ire of these groups.

    *Scratches head*

  • Realist||

    Hey, Cavanaugh your boy's a crook!

  • Mike g||

    Wall Street Occupation protesters silent on White House refusal to turn over all documents on Solyndra croney capitalism. Nothing new in the ongoing hypocrisy, insanity, and stupidity of the progressives.

  • porcorosso||

    "The path to a clean energy economy starts here". In the toilet.

  • ||

    rotfflmfao

  • ||

    Sorry: voted for Obama? You belong to "the vast confederacy of fools that would have him for their president."

    Sorry. There are NO f**king excuses for that f**k-up. The truth hurts.

  • Hillary||

    Is that related to the vast right-wing conspiracy that got my husband to ejaculate on what's-her-name's dress?

  • jayburd||

    Hide The Decline!

  • Frack Attack Barack (F.A.B.)||

    Little scandal, big story? Wrong!!! This is a huge scandal since it involves several Dem-supporting executives receiving Federal funds funneled by the Lyin' Hawaiian and his minions themselves. Why does the MSM always have to be Monica Lewinsky to Obama's Clinton? Their jaws don't hurt and they like taking cigars up their orafices? Guess they lost their journalistic aggressiveness ever since a DemocRAT occupied the WH. Pathetic!

  • ||

    The Lyin' Hawaiian? I thought he was the Pretendin' Kenyan.

  • ||

    So this cost the taxpayer of this loan over the past 2 years is the same as like a whole 2 weeks worth of Afghanistan spending?

  • ||

    right, and that makes it ok to waste $500M of our money on a "green jobs" boondoggle? because you don't like the Afghan war? send over your analysis of afghanistan, and your foreign policy credentials, and we'll be sure to take you seriously.

  • ||

    it's astounding to me that feckless, smarmy press continues to support this fool, despite his running the LEAST transparent admin since nixon, despite his arrogance and impertinence when he is "questioned" by that same press (i guess he got used to having them all bow at his feet), despite his obvious incompetence. barack obama is a delusional narcissist. he thinks that he walks on water. he can't imagine that anyone would dare question his brilliance in funding and bloviating over a clearly troubled and now bankrupt "green energy" company. it's time for this loser to go back to the south side....

  • ||

    Well, you can't say we didn't warn you about Obama. But you didn't listen...

  • BigT||

    "Now we knew from the start that the loan guarantee program was going to entail some risk, by definition. If it was a risk-free proposition, then we wouldn’t have to worry about it. But the overall portfolio has been successful... "

    The OVERALL portfolio? BS. This is just one of hundreds of bad bets, really big bad bets over the past few decades. There are DOE facilities in every corner of the US sitting idle waiting for the price of oil to go up just enough to make them profitable. Some of these were built when oil was $10/bbl. Amazing!

    Steven Chu is the worst DOE Sec ever - and that is saying something.

  • ||

    Government should stop picking winners and losers, said the heavily subsidized oil billionaire's pet website.

    Ha ha, said the world.

  • ||

    "The scandal over Solyndra, a Fremont, California-based maker of tube-shaped solar panels..."

    Why not use the adjective "cylindrical" instead of "tube-shaped"?

  • ||

    We would have all known what they meant of course, but doesn't a cylinder technically have two circular faces on it while a tube is open at both ends?

  • ||

    Why are you you ignoramuses (ignoramati?) ignoring the blindingly obvious? By that i mean, Where is TonY??? i mean, Green Power is, like, his forte', isn't it? Why the fuck isn't he publically eating all of obama's shit and telling us how good it tastes? Is he sick or something? Did the fossil-fueled power to his parent's basement, where he lives, go out? Did he get gang-raped into a coma in the Occupy Wall Street demonstration, by an entourage of Gay Fascists for Freedom? i'm seriously worried.

  • ||

    Why are you you ignoramuses (ignoramati?) ignoring the blindingly obvious? By that i mean, Where is TonY??? i mean, Green Power is, like, his forte', isn't it? Why the fuck isn't he publically eating all of obama's shit and telling us how good it tastes? Is he sick or something? Did the fossil-fueled power to his parent's basement, where he lives, go out? Did he get gang-raped into a coma in the Occupy Wall Street demonstration, by an entourage of Gay Fascists for Freedom? i'm seriously worried.

  • jayburd||

    Don't blame me, I voted for Ed Clark

  • ||

    Perhaps the Obama administration was taken by surprise by this affair. But anyone with any business sense shouldn't have been. If there was a profit to be made in this business then private businesses would have rushed in and invested. The Obama administration evidently believed that it could outsmart the market, and it used our tax dollars to do it. A business manager would have lost his job. Unfortunately our government managers simply shrug-off the half a billion loss.

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