Obama's $535,000,000 Waist Of Tax Payers Money

[12thMan]

Originally Posted by saden1

I have no problem with the government lending money because government loans have made America what it is. From small business to large America has always lent its support to entrepreneurs I hope it continues.

What I do have a problem with is the lending of money without oversight and controls in place. In the case of Solyndra that wasn't an issue because the analysts advised against making the loan. This debacle is a colossal failure in governance on the part of the Obama administration. It may not have been not have been willful but it certainly was negligent.

I am left to ask why lend that large sum of money to one start-up company? Why not spread the money to various companies and mitigate the risk? And the only logical answer is that the decision was political. This is going to be a huge issue for Obama to wiggle out and I hope we will have answers as to what really happened.


TT Fail!

There are other loans still in the pipeline to be approved under this program, Solyndra was simply the first to get approved. In fact they started the competitive application process back in 2006 under the Bush admin, but they saw the red flags and said no thanks. So they didn't just pop up in 2010 and ask for half a billion. I agree with you, however, that this reeks of negligence.

Someone in the government should come forth with more answers about the vetting process and why were the red flags ignored. But my personal opinion is the political fallout for the Obama admin. will be minimal. Unless the president was directly involved, laws were broken or there were back-door agreements, I don't see it being a huge campaign issue. It might come up in a debate here and there, but people are mostly focused on the big issues of the day. We'll see I guess.