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Old 01-29-2012, 03:36 PM
 
Location: Twin Cities, MN
780 posts, read 457,302 times
Reputation: 220

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Quote:
Originally Posted by whatyousay View Post
Well, seeing as how Bush hasn't been president for over three years now, and none of his green energy pet projects/kick-backs to political donors ended in the companies declaring bankruptcy mere months after being given $535 Billion of taxpayer money, it appears that you and your leftist buddies simply want to point the finger and say "BUT HE DID IT TOO!! WAHHHH!!!"

I doubt you will find a conservative on this board who supported Bush's (over)spending addiction, but let's put this in perspective. MANY of Obama's projects have turned out to be complete and utter failures of epic proportion. Keep on deflecting though and act like the non-partisan that you aren't.
It isn't "he did it too". It's part and parcel. Both administrations had a hand in it. I've not defended Obama nor Bush.

How you can describe that viewpoint as "hidden partisan affiliations" is beyond me.

Look, if you think you're fooling thinking people with this ruse, you're not. It's very obvious who has partisan motives here. the people like you who obsess about Obama. Some of these people make the extreme lefties that went after Bush constantly seem moderate. That's how far the right has slidden into the neofascist, Know Nothing, abyss.
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Old 01-29-2012, 03:38 PM
 
Location: Twin Cities, MN
780 posts, read 457,302 times
Reputation: 220
Quote:
Originally Posted by KUchief25 View Post
OMG THIS THREAD IS ABOUT SOLYNDRA NOT TIMMY G. & EUROPE! PLZ STAY ON TOPIC!
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Old 01-29-2012, 03:55 PM
 
29,419 posts, read 18,631,395 times
Reputation: 5437
Quote:
Originally Posted by Finn_Jarber View Post
Solyndra failed, but the amount was 535 million, not 535 billion, as you say.

So, that's half a billion.

Do you know how much Bush funneled into failing AIG? 180 billion. That's over 300 times more than Solyndra. You want to put things in perspective, then that's a good starting point.

Do you know how much he spent on GM, before it failed? 20 billion, or 40 times more than Solyndra.

Those are just two examples. A lot of money was wasted, and if you want to be seen as some kind of conservative, you simply cannot ignore those things.
Well FB the federal stimulous bill funneled a trillion dollars somewhere. Everybody does remember the stimulous right? Of course they don't want you too. Now my previous post shows that plenty of that stimulous money went to these "green" companies, one of em solyndra. Bush had nothing to do with the stimulous.
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Old 01-29-2012, 03:57 PM
 
29,419 posts, read 18,631,395 times
Reputation: 5437
Quote:
Originally Posted by Just a Bill View Post
OMG THIS THREAD IS ABOUT SOLYNDRA NOT TIMMY G. & EUROPE! PLZ STAY ON TOPIC!
I see you have no answer to piles of stimulous money going to these green company under obama's direction, one of them being solyndra. I didn't expect any either so I'm not surprised. Kind of hard to blame Bush for the stimulous scams even to a bi partisan sort like yourself. lol
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Old 01-29-2012, 04:00 PM
 
69,372 posts, read 55,255,137 times
Reputation: 9358
Quote:
Originally Posted by Finn_Jarber View Post
It is not me who is embarrassing himself.

I strongly urge you to look up the definition of "author" before replying again. When I say Bush authored the plan, it means he wrote it/designed it. Get it?
You didnt say authored, you said authorized, a downright lie.
Quote:
Originally Posted by Finn_Jarber View Post
I would consider changing the title to say "The deal to fund Solyndra was authored by Bush, before Obama took office",
but lets review the definition of author, just because I'm not done laughing at you

Author: creator or source: the creator or cause of something

Bush didnt create or cause the loan to be issued, Obama did. Bush DENIED the loan
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Old 01-29-2012, 04:01 PM
 
Location: Twin Cities, MN
780 posts, read 457,302 times
Reputation: 220
Quote:
Originally Posted by KUchief25 View Post
I see you have no answer to piles of stimulous money going to these green company under obama's direction, one of them being solyndra. I didn't expect any either so I'm not surprised. Kind of hard to blame Bush for the stimulous scams even to a bi partisan sort like yourself. lol
If you stay off-topic, I am going to have to ask you to lend me your box of tissues.
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Old 01-29-2012, 04:03 PM
 
Location: Twin Cities, MN
780 posts, read 457,302 times
Reputation: 220
Quote:
Originally Posted by pghquest View Post
You didnt say authored, you said authorized, a downright lie.

but lets review the definition of author, just because I'm not done laughing at you

Author: creator or source: the creator or cause of something

Bush didnt create or cause the loan to be issued, Obama did. Bush DENIED the loan
Yep, and Bush created the hand-out program in the first place. Without him having done so, we wouldn't be having this discussion. You can stop pretending to not understand the connection now, if you think you can shed the partisan mantle for a few seconds...
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Old 01-29-2012, 04:05 PM
 
Location: Florida
21,603 posts, read 11,035,695 times
Reputation: 7849
Quote:
Originally Posted by Finn_Jarber View Post
It’s often claimed that the Solyndra loan guarantee was “rushed through” by the Obama Administration for political reasons. In fact, the Solyndra loan guarantee was a multi-year process that the Bush Administration launched in 2007.

No way?!?!? Isn't Solyndra something GOP can't stop ripping Obama about?

Well, if they were honest, they'd be ripping themselves too.


May 2005: Just as a global silicon shortage begins driving up prices of solar photovoltaics [PV], Solyndra is founded to provide a cost-competitive alternative to silicon-based panels.

July 2005: The Bush Administration signs the Energy Policy Act of 2005 into law, creating the 1703 loan guarantee program.

February 2006 – October 2006: In February, Solyndra raises its first round of venture financing worth $10.6 million from CMEA Capital, Redpoint Ventures, and U.S. Venture Partners. In October, Argonaut Venture Capital, an investment arm of George Kaiser, invests $17 million into Solyndra. Madrone Capital Partners, an investment arm of the Walton family, invests $7 million. Those investments are part of a $78.2 million fund.

December 2006: Solyndra Applies for a Loan Guarantee under the 1703 program.

Late 2007: Loan guarantee program is funded. Solyndra was one of 16 clean-tech companies deemed ready to move forward in the due diligence process. The Bush Administration DOE moves forward to develop a conditional commitment.

October 2008: Then Solyndra CEO Chris Gronet touted reasons for building in Silicon Valley and noted that the “company’s second factory also will be built in Fremont, since a Department of Energy loan guarantee mandates a U.S. location.”

November 2008: Silicon prices remain very high on the spot market, making non-silicon based thin film technologies like Solyndra’s very attractive to investors. Solyndra also benefits from having very low installation costs. The company raises $144 million from ten different venture investors, including the Walton-family run Madrone Capital Partners. This brings total private investment to more than $450 million to date.

January 2009: In an effort to show it has done something to support renewable energy, the Bush Administration tries to take Solyndra before a DOE credit review committee before President Obama is inaugurated. The committee, consisting of career civil servants with financial expertise, remands the loan back to DOE “without prejudice” because it wasn’t ready for conditional commitment.

March 2009: The same credit committee approves the strengthened loan application. The deal passes on to DOE’s credit review board. Career staff (not political appointees) within the DOE issue a conditional commitment setting out terms for a guarantee.

June 2009: As more silicon production facilities come online while demand for PV wavers due to the economic slowdown, silicon prices start to drop. Meanwhile, the Chinese begin rapidly scaling domestic manufacturing and set a path toward dramatic, unforeseen cost reductions in PV. Between June of 2009 and August of 2011, PV prices drop more than 50%.

September 2009: Solyndra raises an additional $219 million. Shortly after, the DOE closes a $535 million loan guarantee after six months of due diligence. This is the first loan guarantee issued under the 1703 program. From application to closing, the process took three years – not the 41 days that is sometimes reported. OMB did raise some concerns in August not about the loan itself but how the loan should be “scored.” OMB testified Wednesday that they were comfortable with the final scoring.

January – June 2010: As the price of conventional silicon-based PV continues to fall due to low silicon prices and a glut of solar modules, investors and analysts start questioning Solyndra’s ability to compete in the marketplace. Despite pulling its IPO (as dozens of companies did in 2010), Solyndra raises an additional $175 million from investors.

November 2010: Solyndra closes an older manufacturing facility and concentrates operations at Fab 2, the plant funded by the $535 million loan guarantee. The Fab 2 plant is completed that same month — on time and on budget — employing around 3,000 construction workers during the build-out, just as the DOE projected.

February 2011: Due to a liquidity crisis, investors provide $75 million to help restructure the loan guarantee. The DOE rightly assumed it was better to give Solyndra a fighting chance rather than liquidate the company – which was a going concern – for market value, which would have guaranteed significant losses.

March 2011: Republican Representatives complain that DOE funds are not being spent quickly enough.
House Energy and Commerce Committee Chairman Fred Upton (R-MI): “despite the Administration’s urgency and haste to pass the bill [the American Recovery and Reinvestment Act] … billions of dollars have yet to be spent.”
And House Oversight and Investigations Subcommittee Chairman Cliff Stearns (R-FL): “The whole point of the Democrat’s stimulus bill was to spend billions of dollars … most of the money still hasn’t been spent.”

June 2011: Average selling prices for solar modules drop to $1.50 a watt and continue on a pathway to $1 a watt. Solyndra says it has cut costs by 50%, but analysts worry how the company will compete with the dramatic changes in conventional PV.

August 2011: DOE refuses to restructure the loan a second time.

September 2011: Solyndra closes its manufacturing facility, lays off 1,100 workers and files for bankruptcy. The news is touted as a failure of the Obama Administration and the loan guarantee office. However, as of September 12, the DOE loan programs office closed or issued conditional commitments of $37.8 billion to projects around the country. The $535 million loan is only 1.3% of DOE’s loan portfolio. To date, Solyndra is the only loan that’s known to be troubled.
old news, Bush shelved it.
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Old 01-29-2012, 04:06 PM
 
69,372 posts, read 55,255,137 times
Reputation: 9358
Quote:
Originally Posted by Finn_Jarber View Post
I would like to know the answer to that too, because Bush had a list of companies, and Solyndra was only one name on that list. He created this wealth re-distribution program back in 2005, so we simply do not know how much money was handed out before he left office. We know of the part which Obama authorized, but I'd like to know the full story going back to 2005.
Wait, one second Bush was responsible, the next, you dont have a clue, by your own admission.
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Old 01-29-2012, 04:07 PM
 
Location: Twin Cities, MN
780 posts, read 457,302 times
Reputation: 220
Quote:
Originally Posted by Taratova View Post
old news, Bush shelved it.
But he didn't shelve the program itself. Right?
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