Posts Tagged ‘Solyndra’

SOLYNDRA: Gov’t was created, in the Constitution, to PROTECT private property rights…not to transfer billions to politically connected corporations

Written by Editor on . Posted in Government Waste

The real scandal here isn’t that the Obama Administration handed half a billion in tax dollars over to a worthless private company with nothing to offer but pull. The real scandal is that members of Congress are forced to prove that such transfers of money ever are, or ever could be, about anything other than pull.…Republicans and Democrats sometimes disagree on which companies should get the billion dollar handouts, and sometimes they agree. In the case of Solyndra, they obviously disagree. But none of this changes the more important principle on which the two parties agree: Their claim that political transfers of wealth are morally and economically justified.
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Where’s the Evidence Obama’s a Policy Genius?

Written by Editor on . Posted in Current Events

A question from Jonah Goldberg.
Where’s the proof that Obama is a master of public policy? To be sure there’s ample proof that he’s a master at talking about public policy, describing the problems, summarizing the current thinking, regurgitating all of the reigning clichés and platitudes. But where’s the evidence that he’s actually good at public policy?It’s a sincere question: What have been the truly innovative, groundbreaking or even unconventional big public policy ideas to come out of this administration? Are there any? Because from where I sit, it simply looks like Obama takes existing, conventional, liberal ideas – some of them very, very old – off the liberal pantry shelf and hawks them like it’s new inventory. Where’s the evidence that Obama’s “mastery” over public policy has translated itself into creative approaches? Not in the stimulus from what I can tell. Maybe there’s something impressive to tout in ObamaCare, but Obama didn’t actually have much to do with the crafting of ObamaCare – a fact Wilson acknowledges. Was his genius to be found in shoveling cash into Solyndra and other embarrassing white elephants? Was he the guiding intellect behind a green jobs program that has produced dozens of jobs in places where it was supposed to create thousands?And if he’s such a genius about public policy, why did it take him so long to discover that there’s no such thing as “shovel ready jobs”? You don’t have to be a Jedi Master of public policy to have known that.
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Economic Illiteracy, Thou Art Obama’s Defense of Solyndra

Written by Editor on . Posted in Current Events

Is it time to start using the term Dumb@ss?
Dissembling about the capital destruction debacle that was his Administration’s loan guarantee to bankrupt green-energy firm Solyndra, President Obama told ABC News last week that “if we want to compete with China, which is pouring hundreds of billions of dollars into this space…we’ve got to make sure that our guys here in the United States of America at least have a shot.”Of course if the president were better schooled in basic economics, he would well understand that “our guys” do have a shot to compete in this space thanks to U.S. capital markets being the deepest in the world. Thanks to angel financing, venture capital, PIPEs, convertible bonds, bonds themselves, and stock issuance, those with a good idea have myriad options when it comes to marrying their innovation with capital.…Indeed, what’s continuously forgotten by our federal minders is that they have no resources. For the Obama administration to guarantee a $500 million dollar loan is for it to ultimately extract $500 million from the private economy where it might have actually funded a real, economy enhancing concept. Unseen is what Microsofts, Intels and Facebooks (the latter’s initial funding $500,000 – Facebook supposedly now worth $75 billion) will never see the light of day thanks to the political class’s hubristic belief that it knows better than private markets disciplined by success and failure about where capital should be allocated.
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Obama appointee pushed Solyndra loan — despite conflict of interest with wife’s law firm

Written by Editor on . Posted in Current Events

We already knew that people in the White House were rushing OMB in August 2009 to approve Solyndra’s half-billion-dollar loan so that The One could get his all-important green jobs/stimulus photo op at the plant. Some OMB analysts complained at the time, in fact, that the time pressure might affect the diligence with which the loan was being reviewed. Oh well. What we didn’t know was who in the White House was pressuring them.
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Solyndra loan deal: Warning about legality came from within Obama administration

Written by Editor on . Posted in Current Events

Energy Department officials were warned that their plan to help a failing solar company by restructuring its $535 million federal loan could violate the law and should be cleared with the Justice Department, according to newly obtained e-mails from within the Obama administration.
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