September 14, 2011

Even Bush does something right, it's still his fault!

Gotta love our current administration. It's NEVER to blame ... for ANYTHING:

After spending months touting the Obama administration's decision to loan $535 million to the California solar energy upstart Solyndra, top officials took a new tack Wednesday while testifying before Congress about the company's abrupt shut-down and bankruptcy: the loan, they said, was actually the Bush administration's idea. The Energy Department's top lending officer told Congress that the Solyndra loan application was not only filed during President Bush's term, but it surged towards completion before Obama took office in January 2009.

"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," said Jonathan Silver, who heads the Energy loan program. (Link)

There's just one small problem with this: Bush and co. refused the loan.

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. (Link)

And waddya know? It's September, 2011.


Posted by Hube at September 14, 2011 09:00 PM | TrackBack

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