Skip to comments.Ex-Energy Secretary Praises Solyndra-Style Loans: 'More Successful Than Wall Street'
Posted on 06/10/2013 7:58:44 AM PDT by Nachum
Ex-energy secretary Steven Chu is still praising Solyndra-style loans. He did it most recently in an interview with San Francisco Chronicle.
The paper asks, "When you look back, is there anything you'd do differently about Solyndra?"
We were evolving. Solyndra was the first loan, the one where the career people who started with the Bush administration said, "This looks like an exciting technology." The Wall Street Journal said it was one of the top 25 companies to watch. And then prices started to crash. And as we got more sophisticated in the loans, from 2009 to 2010, we started to put in measures where, OK, you're not going to disburse the whole thing. And then you have to have a very tough attitude.
Now, if you pull the plug on a loan somewhere in the middle of a startup company, the chances are they might just go into bankruptcy. But on the other hand, if the probability is high that they're going into bankruptcy, you don't throw good money after bad.
(Excerpt) Read more at weeklystandard.com ...
The list, Ping
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a.k.a. ... “Bush’s fault!” :O
These idiots live in Bizzaro world.
Some people just need to go away.
I have a long list and it is getting bigger by the day.
But they have their list too...
Only a professor could be this stupid.
Well, he means it. Failure is the prefered Marxist Dem outcome!
The “green technology” may be an exciting development, but is it sustainable WITHOUT huge and continuing subsidy?
The presence of subsidies skews both the efficiency of manufacturing (there is no incentive to seek less expensive means of manufacture), and the nature of the research being done.
Now, maybe a century from now, we shall all be whizzing about the landscape in little light scootermobiles with solar panels on the roof, or zipping down freeways that have induction coils built into the pavement, flowing with a traffic pattern that keeps all vehicles at safe spacing, drawing up the current to propel vehicles both swiftly and smoothly between destinations near and far. But the program being following allows none of the innovations that will lead to these breakthroughs, as only the old inefficient technology gets recycled over and over, with the hopeful belief that “this time it WILL work”.
Funny how those nonexistent broke companies do better than Wall Street.
I thought ideas like these only existed in the mind of occupiers...
Desperately trying to rewrite history ...
I’ve heard Chu give scientific talks a couple of times. A brilliant scientist. He should stick to science.
Stock demolunacy: ‘Our American Cousin’ was a fine play, despite the minor disruption.
But if it is determined to be more than a minor disruption, it was Lincoln’s fault!
Democrat/MSM cocktail party dress code: neckties & straitjackets. Shirts and shoes, please.
Chu may be a brilliant academic but he doesn’t know $h*t about the real world.
Translation: “Playing the market is so much more fun when you can use other people’s money!”
There is a reason why he is the ex and he continues to prove he does not belong in charge of anything.
Solyndra was the first loan, the one where the career people who started with the Bush administration said, "This looks like an exciting technology."..
What Mr. Chu and the rest of the Progressives conveniently leave out of the discourse on the previous administration's decision is that the Bush Administration REJECTED the loan to this green joke of a company.
It surely must be blissful to be a leftist, given that history, facts and words have no meaning then one must be in a state of bliss at all times.
Solyndra bump for later...
Really makes you wonder how much of the tax payer funded loan money for the failed Solyndra scam got kicked back to this Chu Clown.
Obama’s people fast-tracked it,( approx. 28 days for a conditional loan gurantee) ignoring the previous admin’s warnings.
(at 10 Billion Dollar loss!)
Can’t read anything these days when the first three word are “ It’s Bush’s fault”