Thursday, September 15, 2011

Solyndra statement

The story about Solyndra, the "green" tech company that made solar panels went bankrupt, leaving the US government on the hook for about a half billion dollar loan, is exploding across the blogosphere and even the major media.  The major questions involve corruption and/or judgment. 

Solyndra's major private investor was Obama-donor George Kaiser.  The company was approved for a loan guarantee by the Obama administration even after the same company had been denied a loan by the Bush administration.  Sound suspicious?  Of course it does.

Except this happens all the time in governments across the country.  Doesn't make it right, but doesn't make it a national scandal.  The far bigger issue is the judgment of the Obama administration.

Solyndra, as it turns out, was manufacturing its solar panels at a loss.  So determined was Obama to tout the myth of "green jobs" that his people rushed to approve the loan.  Now Solyndra has, if anything, helped debunk the myth of green jobs.

Some good background and updates on the story, better than anything I can add, from Megan McArdle, Michelle Malkin and Power Line.

In fact, really the only thing I may be able to add is something that just needs to be said.  I haven't seen anyone else say it, so I will:


Sorry. Just had to get that one out of my system.

1 comment:

  1. Wow. I didn't think you would go THERE. Pretty funny.