Skip to comments.Chu: No White House Influence on Solyndra Deal
Posted on 11/23/2011 10:23:14 AM PST by Nachum
WASHINGTON Energy Secretary Steven Chu said Thursday that no one from the White House ever contacted him to make a political decision on a half-billion-dollar loan to a California solar company that later went bankrupt.
Testifying under oath on a widening controversy, Chu said he was unaware of his staff predictions in 2009 that Solyndra was likely to face severe cash-flow problems. He said that market changes which led to a steep decline in the price of solar panels were "totally unexpected."
Solyndra went belly-up after getting the $528 million loan from the government, and Chu told the House Energy and Commerce Committee that he made all decisions involving the loan to the solar-panel manufacturer. He said he made all judgments regarding Solyndra with the best interests of the taxpayer in mind.
Chu also said he doesn't expect taxpayers will recover much of the money lost in the transaction.
The secretary's position before the committee was that politics played no role in the decisions on the loan, despite emails and other documents released by panel that revealed some pressure from the administration on Solyndra to delay an early round of layoffs until after the 2010 elections. Other documents showed that campaign donor George Kaiser was involved in discussions about the loan program.
Read more on Newsmax.com: Chu: No White House Influence on Solyndra Deal Important: Do You Support Pres. Obama's Re-Election? Vote Here Now!
(Excerpt) Read more at newsmax.com ...
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Well, that settles it.
I don’t believe 1 word of this.
Mr. Chu says, “What possible reason could I have to lie?”
No soup for Chu!
If the WH wasn’t involved in this then it damn well should have been. How can this ivory tower know nothing throw away over 500M of our money w/o his boss knowing about it???? Who is running this country anyway???
I’ve heard it said Chu “fell on his sword” over this. That’s odd: Do people that “fall on their swords” ever get up and go back to the same job, as Chu did?
Do you ever wonder why all these folks trying to destroy the Nation have foreign names?
We saw yer lips moving.
Chu wasn't watching these expenditures, but currently in order to have a 20 person conference you have to get the Assistant Secretary of your executive branch department to approve.
They also do "rolling hunger strikes" where they keep on eating.
And Bill Clinton did not have sex with that woman.
Energy Secretary and stand-up comic Steven Chu said Thursday...
Why would the White House call him? Chu has already professed to having no knowledge of the day-to-day operations of the Department of Energy - the agency which he gets paid six figures to oversee.
Well Mr. Chu, perhaps you can explain why a company with outdated technology and no prospect to make a profit, even if they found buyers dumb enough to buy their useless panels, managed to convince you their company was worth the gamble?
Chu pleads stupidity.
“Testifying under oath on a widening controversy, Chu said he was unaware of his staff predictions in 2009 that Solyndra was likely to face severe cash-flow problems. He said that market changes which led to a steep decline in the price of solar panels were “totally unexpected.”
Translation: We didn’t get Co2 Cap and Tax to keep them going.
“Solyndra went belly-up after getting the $528 million loan from the government, and Chu told the House Energy and Commerce Committee that he made all decisions involving the loan to the solar-panel manufacturer.”
So he’s the one to put investors ahead of the Tax payers.(which should make the deal illegal and the Tax payers should be at the first to recover funds.)
He said he made all judgments regarding Solyndra with the best interests of the taxpayer in mind.
“Chu also said he doesn’t expect taxpayers will recover much of the money lost in the transaction.”
Translation: Obama’s bumblers needed to get their 2012 money to donate at Tax Payers expense.
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