Just was reading this Washington Post story on the Solyndra debacle and found this gold in the beginning of the piece:
Administration officials defended the loan restructuring, saying that without an infusion of cash earlier this year, solar panel maker Solyndra Inc. would likely have faced immediate bankruptcy, putting more than 1,000 people out of work.
Even with the federal help, Solyndra filed for Chapter 11 bankruptcy protection earlier this month and laid off its 1,100 employees.
Sooooo the US government had to hurry up and give money to a failing business. Sounds like good public policy to me! Here’s my guess of one of the possible internal Department of Energy discussions about whether the government should lend Solyndra millions of dollars:
Obama official #1: ‘We have to get this 500+ million dollar loan to Solyndra ASAP!’
Obama official #2: ‘Why?’
Obama official #1: ‘Because if we don’t it will go out of business very, very soon.’
Obama official #2: ‘If that is true than maybe we should take even more time to investigate the company. This might be a bad investment.’
Obama official #1: ‘Shut up! Loan approved.’
Ridiculous, I know, but probably not far from the truth. Maybe I’m also being too harsh calling these fake DOE characters ‘Obama officials’, after all it’s not like the President himself was an integral part in pushing and promoting this colossal boondoggle of tax payer dollars. Oh wait, he was:
I’ll have more on this gross waste of American tax dollars soon.