Charles Krauthammer and other guests on Hannity, Friday night, discussed the bankruptcy of Solyndra along with some other scandals and corrupt practices within the Obama administration. Krauthammer soberly explained the problems with the Obama administrations approach, calling it a classic example of the toxic combination of Lenin Socialism and crony capitalism -”the Socialist idea of experts over the markets made even worse when it involves cronyism, favors and corruption.”
“You destroy an economy when you think a politician in a centralized state knows where the capital should be allocated,” he said.
Later on in the show, Pat Cadell and Bill Cunningham joined him. Cadell’s disgust and contempt for what’s been going on in the Obama administration was palpable, and he slams the media for failing to cover plethora of scandals adequately:
[youtube]http://www.youtube.com/watch?v=veZqnuSnExM[/youtube]
One reason Obama has been able to get away with as much as he has, is because the media has been giving him a pass since the beginning of his term.
Could you JUST imagine if this was BUSH???…..People hated him for less!! Oh, wait, I forgot, Solyndra WAS Bushes fault….
Americans’s need to wake up!!! THIS is how our tax dollars are being misused and THIS is how PHONY every “Jobs Plan” is with this President and his PHONY Lying Administration!!! Crony Capitalism (with OUR Tax money) for Votes, Support, And Campaign dollars needs to end!!
Signed: Tired of getting screwed by Government….
What has happened is that that the fuse is burning down with BLAST happening when the burning wick touches the Solyndra dry powder. The pivot year was 2009 when the company reported a massive 300% increase in revenues from 6 million to 178 million. These were the numbers bandied about from SEC filing documents which precluded the request for 465 million dollars in loan guarentees from Obama. “The product that we supported succeeded. The facility was producing the product it said it would produce and customers were buying the product. The company struggled because the market has changed dramatically.” (Damian LaVera, Department of Energy)
What changed was the realization that the entire strategy was a policy gambit predicated on the administration’s rejected Cap-n-Trade plan to make electricity rates “skyrocket”. Constitutional Conservatives got elected to Congress and Obama’s sole grip on the nation’s future got challenged by his bosses, the American People.
Solyndra is a test book case of cover-up closed-end phony-crony capitalism. The path Solyndra had taken is a road not to be used. There are many companies, like Genentech, which formed a group, seeded capital, collateralized loans, attracted venture capitalist investors, then sold debentures and common stock via IPO’s; that, because of high costs producing research and product development, failed to report revenues for several years thus burning through their start-up capital common assets; but whom, nevertheless, proved their research and developments projects were, in the long-run, worthwhile and profitable. After WW II 3-M Corporation, losing its Army contracts, gave stock option script to workers to compensate for low wages. Those who sucked it up and retained the script became millionaires.
What Solyndra did was bypass normal start-up business practices and procedures deciding instead to ride the crest of the Obama tsunami. PriceWaterhouse conducted an audit, to whom it was commissioned and to whom its conclusions reported remains a mystery, and clearly links in the chain of operations were not properly linked in order to justify the company’s reported, to the SEC and OMB, results. When an accounting firm certifys results it can explain and justify the difference in numbers between a 3 and a 4. Boring, like digging in a copper mine, work but that is what they do. Within Solyndra, somewhere between the receiving department and the shipping department activities were apace that were contra mundi and the Solyndra company failed providing accurate vital measurements for its viable continuation. The problem starts at that nasty ole Receiving Department because there could be hundreds of suppliers with employees who were planning college for the kids, bigger houses for the family, new set of wheels that no longer have a customer. Service agency fees will be handled by the court bankruptsy receiver meaning zero chance ever getting paid fees for advertizing or staff employment services.
Regarding Obama, what is known has been known throughout the ages “An angry person produces anger!”