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?