Skip to comments.Chu takes responsibility for a loan deal that put more taxpayer money at risk in Solyndra
Posted on 09/30/2011 4:51:44 PM PDT by sunmars
Energy Secretary Steven Chu acknowledged Thursday making the final decision to allow a struggling solar company to continue receiving taxpayer money after it had technically defaulted on a $535 million federal loan guaranteed by his agency.
Chu spokesman Damien LaVera said in a statement that the secretary approved the restructuring agreement for Solyndra because it gave the company the best possible chance to succeed in a very competitive marketplace and put the company in a better position to repay the loan.
On the political front, Chus admission came as some members of Congress were asking whether Chu went too far in trying to help the company before it went into bankruptcy, leaving taxpayers on the hook for the loan.
Chu, a Nobel laureate and physicist who came to the administration from academia, arrived in Washington with a mandate to push billions of dollars in stimulus funds into clean-energy companies and projects. With keen White House interest, Chu rode herd over an $80 billion showcase initiative that was supposed to spur a new green industry and economic growth
(Excerpt) Read more at washingtonpost.com ...
Even if Chu takes the fall on this, all he has to say is “Well, I did win a Nobel Prize ... what about you??” It’s the Politically Correct way to shut off debate, but it still stinks!
What does “take responsibility” mean?
Is Chu going to pay the taxpayers back? Does Chu get beaten, tarred and feathered?
Or does he just have to say “My bad” at a press conference and all is forgiven?
The wheels on the bus go round, round, round, ...
“Nobel Laureate Under the Bus” by Who Flung Chu
Bum democrats. At least Bush told these thieves to take a hike.
Bus - Chu....Chu - bus......under it....now!
No he won't. I'll bet dollars to donuts he is still drawing a gov't paycheck when Obama leaves in mocking disgrace in Jan 2013.
If I'm wrong...well, that good!
"Apology accepted, Captain Needa."
Someone must be making rumblings and putting 2 and 2 together, you don’t get admissions like this from Obama’s crew unless someone is getting darn close to putting 2 and 2 together and getting 4.
Nah, Chu is safe
Token Cabinet Asian and brilliant Nobel prize winner plus a god of the greenies.
He’s a safe guy to take the fall.
Oops, I’m just a brilliant Nobel prize winning scientist who would ride a bike to work if I wasn’t so important, and I didn’t understand the high finance stuff.
One week and the issue is gone.
This is harry reids baby,he should be perp walked!
Apparently, “taking responsibility” means hiding from the press and Congress, and instead sending out spokesman Damien LaVera to read a prepared statement.
Look next for a very Clintonian “mistakes were made” brush-off, followed by, um, nothing...
Carvel says fire somebody. Chu is a good start.
Sounds about typical
The Chu Chu stops at the White House!
Isn’t Chu one of several members of the Baraqqi regime on record in favor of “European” levels of gasoline prices for the US?
Are any Republicans preparing to use that sound bite in 2012 advertising?
Chu falls on his sword.
Well, Janet Reno took full responsibility for violently murdering 76 men, women and children, by burning them to death.
I think all that meant was that Bill Clinton did not have to wear it. But after all, I think it's proper that he have the moniker of "The Butcher of Waco".
Chu on this.
This is just a remake of “The day of the Damned”
Each of these “Greenies” is on the watch list.
Now, look inside the corporate shell and just imagine what they’re thinking: “How can we spend this fast on glitz, glitter and give aways to the Execs before we collapse?”
What high Guignol this is.
Someone needs to do photoshop of Harry Truman “the buck stops here” and Obama where the “buck never stops here”
Chu should have to come up with the bling bling to make us taxpayers whole again...from his personal stash.
Word of Chus likely nomination came a day after Obama met with former Vice President Al Gore, also a Nobel Prize winner and one of the worlds leading voices on the fight against global warming.
Chu is a physicist. He knows quite a bit about black holes.
One on the way down, now I want to see Pelosi and Jarrett. Those two have very dirty hands in this...as does 0bama.
Bending over and spreading his cheeks for Obama.
Obama is going to need another Canadian bus. His current one is pretty messy underneath now.