tag:blogger.com,1999:blog-8213262.post7100114594881948990..comments2024-03-25T07:29:08.216-04:00Comments on 2 Political Junkies: As Always, The Frame Is MissingMariahttp://www.blogger.com/profile/10439330154875628083noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8213262.post-15161103971672184112011-10-12T17:23:30.356-04:002011-10-12T17:23:30.356-04:00Yeah, the "rest of the story" can be mes...Yeah, the "rest of the story" can be messy at times.<br />-----<br /><br />From Climate Progress<br />http://thinkprogress.org/romm/2011/09/13/317594/timeline-bush-administration-solyndra-loan-guarantee/<br /><br />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.<br />------<br /><br />From Bloomberg<br />http://www.bloomberg.com/news/2011-09-12/obama-team-backed-535-million-solyndra-aid-as-auditor-warned-on-finances.html<br /><br />Two months before Obama’s visit, accounting firm PricewaterhouseCoopers LLP warned that Solyndra, the recipient of $535 million in federal loan guarantees, had financial troubles deep enough to “raise substantial doubt about its ability to continue as a going concern.” <br /><br />The Obama administration stood by Solyndra through the auditor’s warning, the abandonment of a planned initial public offering and a last-ditch refinancing where taxpayers took a back seat to new investors. That unwavering commitment has come under increasing scrutiny since the company’s travails culminated in its filing for bankruptcy protection on Sept. 6 and a raid on its headquarters by the Federal Bureau of Investigation two days later. <br /><br />“People including our government put blinders on and did not want to believe in the obvious,” Jonathan Dorsheimer, an analyst in Boston for Canaccord Genuity Inc. of Vancouver, said in an interview with Bloomberg Government. “The fact that the government chose Solyndra as their white horse is mind- boggling.”<br />-------- <br /><br />Nice try.Conservative Mountaineerhttps://www.blogger.com/profile/00682687892115059220noreply@blogger.com