Chu takes responsibility for a loan deal that put more taxpayer money at risk in Solyndra

Washington Post ^ | September 29, 2011

[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, Chu’s 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

[YHAOS]

Chu falls on his sword.

[ROCKLOBSTER]

What does “take responsibility” mean? Is Chu going to pay the taxpayers back? Does Chu get beaten, tarred and feathered?

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".

[rockvillem]

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...

You nailed it.

[usnadad]

Love it!

[plangent]

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.

[traderrob6]

Someone needs to do photoshop of Harry Truman “the buck stops here” and Obama where the “buck never stops here”

[Hotlanta Mike]

Chu should have to come up with the bling bling to make us taxpayers whole again...from his personal stash.

[maggief]

FLASHBACK:

http://articles.sfgate.com/2008-12-11/news/17129916_1_energy-secretary-energy-czar-climate-change/2

Word of Chu’s likely nomination came a day after Obama met with former Vice President Al Gore, also a Nobel Prize winner and one of the world’s leading voices on the fight against global warming.

[Paleo Conservative]

Chu is a physicist. He knows quite a bit about black holes.

[SueRae]

One on the way down, now I want to see Pelosi and Jarrett. Those two have very dirty hands in this...as does 0bama.

[Venturer]

Bending over and spreading his cheeks for Obama.

[matt04]

Obama is going to need another Canadian bus. His current one is pretty messy underneath now.

[Chode]

then GOTO JAIL do not pass go do not collect $200.00 you RAT scumbag you!!!

[Munz]

Pleanty of room under there ....