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Ex-Energy Secretary Praises Solyndra-Style Loans: 'More Successful Than Wall Street'
Weekly Standard ^ | 6/10/13 | DANIEL HALPER

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?"

Chu responds:

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 ...


TOPICS: News/Current Events
KEYWORDS: chu; solyndra
Idjit
1 posted on 06/10/2013 7:58:44 AM PDT by Nachum
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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 06/10/2013 7:59:05 AM PDT by Nachum (The Obama "List" at www.nachumlist.com)
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To: Nachum

a.k.a. ... “Bush’s fault!” :O


3 posted on 06/10/2013 8:03:50 AM PDT by The Duke
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To: Nachum

These idiots live in Bizzaro world.


4 posted on 06/10/2013 8:03:54 AM PDT by muir_redwoods (Don't fire until you see the blue of their helmets)
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To: Nachum

Some people just need to go away.

I have a long list and it is getting bigger by the day.


5 posted on 06/10/2013 8:04:34 AM PDT by hadaclueonce (dont worry about Mexico, put the fence around kalifornia.)
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To: hadaclueonce

But they have their list too...

http://www.nachumlist.com/deadpool.htm


6 posted on 06/10/2013 8:05:17 AM PDT by Nachum (The Obama "List" at www.nachumlist.com)
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To: Nachum

Only a professor could be this stupid.


7 posted on 06/10/2013 8:07:48 AM PDT by Steely Tom (If the Constitution can be a living document, I guess a corporation can be a person.)
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To: Nachum

Well, he means it. Failure is the prefered Marxist Dem outcome!


8 posted on 06/10/2013 8:08:26 AM PDT by dforest (I have now entered the Twilight Zone.)
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To: Nachum

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”.


9 posted on 06/10/2013 8:11:26 AM PDT by alloysteel (When did the government suddenly become our psycho ex-girlfriend? - Jay Leno)
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To: Nachum
...with the small difference that Solyndra is bankrupt and gone and Wall Street is still here.

Funny how those nonexistent broke companies do better than Wall Street.

I thought ideas like these only existed in the mind of occupiers...

10 posted on 06/10/2013 8:12:06 AM PDT by PATRIOT1876 (The only crimes that are 100% preventable are crimes committed by illegal aliens)
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To: Nachum

Desperately trying to rewrite history ...


11 posted on 06/10/2013 8:12:38 AM PDT by BookmanTheJanitor
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To: Nachum

I’ve heard Chu give scientific talks a couple of times. A brilliant scientist. He should stick to science.


12 posted on 06/10/2013 8:13:42 AM PDT by omega4412
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To: Nachum

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.


13 posted on 06/10/2013 8:17:31 AM PDT by tumblindice (America's founding fathers: All armed conservatives.)
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To: Nachum

Chu may be a brilliant academic but he doesn’t know $h*t about the real world.


14 posted on 06/10/2013 8:27:45 AM PDT by beethovenfan (If Islam is the solution, the "problem" must be freedom.)
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To: Nachum
Solyndra was worth a look, no problem for Bush or anybody else to give it a look. What the look revealed was that it wasn't worth any money, even Chu must have seen that. They got the money because they kicked part of it back to finance Obama’s campaign.
15 posted on 06/10/2013 8:29:24 AM PDT by Old North State
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To: Nachum

Translation: “Playing the market is so much more fun when you can use other people’s money!”


16 posted on 06/10/2013 8:32:04 AM PDT by the_Watchman
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To: Nachum

There is a reason why he is the ex and he continues to prove he does not belong in charge of anything.


17 posted on 06/10/2013 8:34:24 AM PDT by edcoil (If you can't change the rules, then ignore them.)
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To: Old North State
Chu is a political hack. You are spot on with the Bush administration involvement in the Solydra mess.

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.

18 posted on 06/10/2013 8:41:15 AM PDT by Thommas (The snout of the camel is in the tent..)
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To: Nachum

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.


19 posted on 06/10/2013 8:46:53 AM PDT by CSM (Keeper of the Dave Ramsey Ping list. FReepmail me if you want your beeber stuned.)
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To: Nachum

Solyndra bump for later...


20 posted on 06/10/2013 8:52:15 AM PDT by indthkr
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To: Nachum

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.


21 posted on 06/10/2013 10:15:23 AM PDT by Amagi (Obama is never so animated as when he is assaulting the Constitution.)
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To: Nachum
Pres. Bush’s admininstration, started, then stopped the Solyndra loan gurantee. They actual looked at the financials and pulled back right before Obama took the oath.

Obama’s people fast-tracked it,( approx. 28 days for a conditional loan gurantee) ignoring the previous admin’s warnings.

22 posted on 06/10/2013 11:26:24 AM PDT by stylin19a (Obama -> Fredo smart)
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To: Nachum
...and the GM bailout was a hugh & series success!

(at 10 Billion Dollar loss!)

23 posted on 06/10/2013 11:43:46 AM PDT by TexasCajun
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To: Nachum

Can’t read anything these days when the first three word are “ It’s Bush’s fault”


24 posted on 06/10/2013 11:49:37 AM PDT by lucky american (The Democrats will follow the big "D"even if it means going over a cliff.)
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