Skip to comments.Obama: Solyndra Got Loan 'On the Merits' (Obama proves a rock is smarter than him)
Posted on 10/06/2011 2:51:21 PM PDT by tobyhill
President Obama said Thursday that his administration has loaned billions to start-up high tech firms like the now-bankrupt solar firm Solyndra based not on political influence, but "on the merits."
"I have confidence decisions were made based upon what's good for the American people," Obama said in a press conference Thursday in response to questions from ABC News senior White House correspondent Jake Tapper. "There were going to be some companies that did not work out. Solyndra was one of them."
The president addressed multiple questions Thursday about Solyndra, the first recipient of a government loan under a program to help finance start-up companies in the fledgling field of green energy. Solyndra declared bankruptcy last month, locking out 1,100 workers. The Energy Department loan is now the focus of investigations by Congress and by the Department of Justice.
"All I can say is the Department of Energy made these decisions based on their best judgments," Obama said, defending the decision to make Solyndra the country's first loan guarantee recipient.
(Excerpt) Read more at abcnews.go.com ...
Merits!?? I've got some merits for you Bammy. We have millions of people whose homes are in foreclosure, so those should be "merits" enough for you!!
They're all heading back home after looking for work to wait for their checks to arrive!! I only hope that the conservatives caught in this economic nightmare aren't holding their breath waiting for the check!!
“I have confidence decisions were made based upon what’s good for the American people,” Obama said
So I guess obstructing congressional investigation and bailing out George Kaiser ahead of taxpayers is whats best for the “American People”
No. What’s truly “good for the American people” is for government to get out of the business of risking taxpayer dollars.
This is the whole problem, with liberals.
They make decisions based on what they believe is best for you in their utopia of the mind, instead of looking at spread sheets, credit ratings and viability.
Green energy may make you feel all warm and fuzzy on the inside but in reality it leaves you broke and freezing your butt off!
Someone needs to ask this financial genius just how many of these deals are expected to "not work out". How many billions would he consider to be an acceptable loss and would still be considered "good for the American people".
The only good thing about the Solyndra deal is the average taxpayer can now start to understand how little Obama cares about wasting their tax dollars.