Wednesday, October 5, 2011

Obama Had NO REGRETS About Solyndra… In Fact He Wanted to Give It Another $469 Million

Worst. President. Ever.
On May 26, 2011, the White House posted this video praising Solyndra as a Recovery Act success story. In August, Barack Obama’s gleaming example of green technology – Solyndra – filed for bankruptcy. The solar panel manufacturer squandered $535 million of stimulus money in a little over a year.

Why Solyndra?
Top Obama bundler George Kaiser made multiple visits to the White House in the months before the company was granted a $535 million loan from the government. And top Solyndra officials also made numerous visits — 20 — to the White House, according to logs and reporting by The Daily Caller. Solyndra officials in the logs included chairman and founder Christian Gronet and board members Thomas Baruch and David Prend. The company secured the $535 million loan despite the fact that it was widely known Solyndra was in deep economic trouble and had negative cash flows since its inception.

Kaiser said he did not use political influence or talk to administration officials about a massive government loan to Solyndra. However, the Solyndra investor made multiple visits to the White House in the week before the Department of Energy approved a $535 billion guaranteed loan to Solyndra on March 20, 2009

But, Barack Obama had no regrets.

In fact, Barack Obama was so impressed with the failed solar company that the administration wanted to give it another $469 million on top of the $535 million to make it an even billion dollars in taxpayer cash.
The Washington Post reported:

The Obama administration’s Department of Energy was poised last summer to give Solyndra a second major taxpayer loan of $469 million, even as the company’s financial situation was growing more dire.

The Energy Department was actively pushing to provide the second loan guarantee to the troubled solar-panel manufacturer in April and May 2010, when Solyndra’s auditors warned the company was in danger of closing due to its rapidly mounting debts and expenses, according to complete e-mails just released by a House committee investigating the original loan.

White House career staffers, who had first raised concerns in the fall of 2009 about the Department of Energy providing Solyndra with its first taxpayer-backed loan of $535 million , wrote e-mails in gallows humor in April 2010 about the prospect of giving Solyndra more money. That spring, industry analysts were publicly questioning how the Silicon Valley startup could so quickly be running out both the federal loan and $933 million in private capital.

“Apparently the loan size for Phase II is $469 million,” one Office of Management and Budget analyst wrote of DOE seeking a second loan for Solyndra. The analysts’s name was not released by the committee. “I’ve been told we should expect the see that project soon for conditional commitment.”

Another joked: “Possible to close and default on one before closing on a second??? Could be a new record.”

The agency didn’t shelve the idea for a second loan until October 2010, a Department of Energy spokesman has confirmed. That was the month that Solyndra executives and investors first warned the department that the company was facing the threat of having to liquidate without emergency cash.

Michelle Obama Listed Daughters As “Senior Staffers” To Justify Expensive African Vacation And Safari

The most accountable administration evah:

Judicial Watch said the U.S. Air Force provided a C-32 – a Boeing 757 modified by the military for the purpose of flying big-wigs around the world – to fly the First Lady and her entourage to and from Africa, at a cost of $424,142. Another $928.44 was listed as the cost of providing 192 meals for the 21 people who made the trip

The Obama daughters were listed on the manifest as “senior staff.”

“This trip was as much an opportunity for the Obama family to go on a safari as it was a trip to conduct government business,” said Judicial Watch President Tom Fitton. “This junket wasted tax dollars and the resources of our overextended military. No wonder we had to sue to pry loose this information.”

I missed this story yesterday, but it’s worthy of our attention. The nation is suffering with the economy sputtering, the national debt soaring and Obama’s economic rescue policies not only failing but actively making things worse.

Meanwhile, the First Lady justifies an expensive trip to Africa to take a vacation and safari with her daughters by saying it’s “official business” and even going so far as to list her children as “staffers.”

The level of arrogance and dishonesty on display here is nothing short of shocking.

But, er, “hope for change” and “yes we can” or something.

U.S. first lady Michelle Obama stands with Karen Dudley, right, at her restaurant “The Kitchen” as she makes an unscheduled stop for lunch in Cape Town, South Africa, Thursday, June 23, 2011. Also pictured, left to right, daughters Malia and Sasha Obama, niece Leslie Robinson, nephew Avery Robinson. (AP/Charles Dharapak, Pool)

Obama Stops By School To Read Kids A Book About Himself

Could this guy be more full of himself?

Before his speech Tuesday at Eastfield College in Mesquite, Texas, President Obama stopped by an early childhood education laboratory to read to children ages 3 to 5.

Among his reading selections: A book about the presidential dog Bo, including a drawing of the president himself.

After the reading the President hung around to autograph copies of “Of Thee I Sing,” written by one Barack Obama.

Which basically means this was a taxpayer-funded book signing appearance for the President.

We didn’t elect a leader. We elected a celebrity.


This isn’t the first time he’s read to kids about himself.

In December of last year, Barack Obama read the book he ‘authored’ “Of Thee I Sing” to a group of second graders. The book includes a letter he wrote to his daughters.