LWW
09-15-2011, 02:45 AM
THE CLAIM: (http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/obama-admin-tries-blame-bush-solyndra)
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">As the Congressional hearing on the failed solar energy manufacturer Solyndra gets under way, it's already clear that the Obama administration is prepared to fall back on a tried and tested strategy: blaming Bush.
In prepared testimony released ahead of the hearing before the House Energy and Commerce committee, the director of the Department of Energy's loans office, Jonathan Silver, emphasizes that the program that eventually granted a $535 million loan guarantee to the troubled firm was created during the Bush administration.
Not only that, Silver says, "Solyndra submitted its initial application in 2006, and much of the extensive due diligence on the transaction was conducted between 2006 and the end of 2008."
He says that "by the time the Obama administration took office in late January 2009, the loan programs' staff had already established a goal of, and timeline for, issuing the company a conditional loan guarantee commitment in March 2009." Ultimately, the Obama administration issued the loan guarantee that March, which Silver argues, was "on the exact timeline that had been developed by the Bush administration..." </div></div>
THE PAINFUL TRUTH: (http://nation.foxnews.com/solyndra/2011/09/14/bush-admin-voted-against-solyndra-loan)
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> The results of the Congressional probe shared Tuesday with ABC News show that less than two weeks before President Bush left office, on January 9, 2009, the Energy Department's credit committee had voted against offering a loan commitment to Solyndra.
Even after Obama took office on Jan. 20, 2009, analysts in the Energy Department and in the Office of Management and Budget were repeatedly questioning the wisdom of the loan. In one exchange, an Energy official wrote of "a major outstanding issue" -- namely, that Solyndra's numbers showed it would run out of cash in September 2011.</div></div>
STUPIDONOMIC POLICY (http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/omb-had-warned-solyndra-not-ready-prime-time) demanded that the reality be ignored:
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Just over a week before the Obama administration's Department of Energy granted a $535 million loan to now bankrupt solar panel manufacturer Solyndra, the White House Office of Management of Budget had warned that it was not ready.
But the Obama administration charged ahead anyway given its zeal for subsidizing so-called "green technology." </div></div>
LWW
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">As the Congressional hearing on the failed solar energy manufacturer Solyndra gets under way, it's already clear that the Obama administration is prepared to fall back on a tried and tested strategy: blaming Bush.
In prepared testimony released ahead of the hearing before the House Energy and Commerce committee, the director of the Department of Energy's loans office, Jonathan Silver, emphasizes that the program that eventually granted a $535 million loan guarantee to the troubled firm was created during the Bush administration.
Not only that, Silver says, "Solyndra submitted its initial application in 2006, and much of the extensive due diligence on the transaction was conducted between 2006 and the end of 2008."
He says that "by the time the Obama administration took office in late January 2009, the loan programs' staff had already established a goal of, and timeline for, issuing the company a conditional loan guarantee commitment in March 2009." Ultimately, the Obama administration issued the loan guarantee that March, which Silver argues, was "on the exact timeline that had been developed by the Bush administration..." </div></div>
THE PAINFUL TRUTH: (http://nation.foxnews.com/solyndra/2011/09/14/bush-admin-voted-against-solyndra-loan)
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> The results of the Congressional probe shared Tuesday with ABC News show that less than two weeks before President Bush left office, on January 9, 2009, the Energy Department's credit committee had voted against offering a loan commitment to Solyndra.
Even after Obama took office on Jan. 20, 2009, analysts in the Energy Department and in the Office of Management and Budget were repeatedly questioning the wisdom of the loan. In one exchange, an Energy official wrote of "a major outstanding issue" -- namely, that Solyndra's numbers showed it would run out of cash in September 2011.</div></div>
STUPIDONOMIC POLICY (http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/omb-had-warned-solyndra-not-ready-prime-time) demanded that the reality be ignored:
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Just over a week before the Obama administration's Department of Energy granted a $535 million loan to now bankrupt solar panel manufacturer Solyndra, the White House Office of Management of Budget had warned that it was not ready.
But the Obama administration charged ahead anyway given its zeal for subsidizing so-called "green technology." </div></div>
LWW