A House subcommittee is accusing the Obama administration of aggressively pushing a loan for a now bankrupt solar company, Solyndra. Republicans say the White House rushed the bad loan in spite of repeated warnings about the company's viability. Solyndra collapsed two weeks ago and is now under federal investigation, leaving taxpayers on the hook for more than $500 billion.
Takeaway Washington correspondent Todd Zwillich examines the substance and the politics behind the GOP's claims.
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Comments [7]
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Congress, lobbyists, and old energy companies are the real villains here. Together they work to keep tarriffs from being imposed to Chinese-made solar panels. While keeping incentives going to oil/gas extraction instead of solar panel and wind turbine construction.
China makes these products using all kinds of incentives from their own government. That in addition to cheap labor keep their prices lower than ours. US congressfolks' answer to this is to HELP China defeat our own industries.
There ARE two Americas. The one that has congress in their pockets and the one that just gets to "vote" for them.
"Where did the rest of the stimulus money go that requires yet another jobs stimulus"investment" this year?"
well, nearly half of it did go to tax cuts (something conservatives curiously overlook)...
The administration "really wanted to use Solyndra as a billboard...for the new green economy and the stimulus act".
And so it will be.
Where did the rest of the stimulus money go that requires yet another jobs stimulus"investment" this year?
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