Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Chu: No White House Influence on Solyndra Deal
Newsmax ^ | 11/23/11 | ap

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 ...


TOPICS: Crime/Corruption; News/Current Events
KEYWORDS: chu; deal; influence; solyndra
Yeeahhh, that's the ticket. I don' know, nuttin abou' nobuddy
1 posted on 11/23/2011 10:23:20 AM PST by Nachum
[ Post Reply | Private Reply | View Replies]

To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


2 posted on 11/23/2011 10:24:07 AM PST by Nachum (The complete Obama list at www.nachumlist.com)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

Well, that settles it.


3 posted on 11/23/2011 10:24:38 AM PST by South Hawthorne (In Memory of my dear Friend Henry Lee II)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

I don’t believe 1 word of this.


4 posted on 11/23/2011 10:25:48 AM PST by roaddog727 (It's the Constitution, Stupid!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

Mr. Chu says, “What possible reason could I have to lie?”

No soup for Chu!

Next!


5 posted on 11/23/2011 10:26:55 AM PST by RexBeach
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

Lier!


6 posted on 11/23/2011 10:28:21 AM PST by US Navy Vet (Go Packers! Go Rockies! Go Boston Bruins! See, I'm "Diverse"!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

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???


7 posted on 11/23/2011 10:34:37 AM PST by Aria ( "If we ever forget that we're one nation under God, then we will be a nation gone under.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: US Navy Vet

Lies!

http://www.youtube.com/watch?v=1n03a7cLf0M


8 posted on 11/23/2011 10:34:59 AM PST by Nachum (The complete Obama list at www.nachumlist.com)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Nachum

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?


9 posted on 11/23/2011 10:39:58 AM PST by Cyber Liberty (Cain = National Sales Tax; Perry = Amnesty for Illegals; Romney = Obamacare forever. Who's left?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

Do you ever wonder why all these folks trying to destroy the Nation have foreign names?


10 posted on 11/23/2011 10:40:33 AM PST by Portcall24
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum
Better get a refund on those ventriloquist lessons Chu.

We saw yer lips moving.

11 posted on 11/23/2011 10:43:55 AM PST by rawcatslyentist (It is necessary that a person be born of a father who is a citizen; ~Vattel's Law of Nations)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum
The next question should be what is the DOE annual budget and what proportion of that would $20 billion be?

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.

12 posted on 11/23/2011 10:55:35 AM PST by USNBandit (sarcasm engaged at all times)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum
Chu lie! Chui shāzi, Chu!
13 posted on 11/23/2011 11:18:26 AM PST by Dr. Bogus Pachysandra ( Ya can't pick up a turd by the clean end!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Cyber Liberty
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?

Demcrats do.

They also do "rolling hunger strikes" where they keep on eating.

14 posted on 11/23/2011 11:42:17 AM PST by Steely Tom (Obama goes on long after the thrill of Obama is gone)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Nachum

And Bill Clinton did not have sex with that woman.


15 posted on 11/23/2011 11:44:23 AM PST by bmwcyle (Obama is a Communist, a Muslim, and an illegal alien)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum
Energy Secretary Steven Chu said Thursday

Energy Secretary and stand-up comic Steven Chu said Thursday...


16 posted on 11/23/2011 11:46:16 AM PST by death2tyrants
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

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.


17 posted on 11/23/2011 11:51:01 AM PST by Hoodat (Because they do not change, Therefore they do not fear God. -Psalm 55:19-)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

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?


18 posted on 11/23/2011 12:06:15 PM PST by G Larry ("I dream of a day when a man is judged by the content of his Character.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

Chu pleads stupidity.


19 posted on 11/23/2011 12:19:11 PM PST by NonValueAdded (At 4 AM, it is a test; at 2 PM, it is a demonstration)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

“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.


20 posted on 11/23/2011 12:57:34 PM PST by steveab (When was the last time someone tried to sell you a CO2 induced climate control system for your home?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

21 posted on 11/23/2011 12:59:15 PM PST by ErnBatavia (Obama Voters: Jose Baez wants YOU for his next jury pool.......)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson