Thursday, September 15, 2011

White House in 2010: Solyndra "Illustration" of How Effective Stimulus Bill Is (With Video)

If you are searching for evidence that the Obama Administration intentionally blinded itself over the coming collapse of Solyndra, you may just have struck gold.

President Obama visited Solyndra, Inc. in May of 2010 to tout the "innovative" company that was "driving progress" across America. Of course, we all know today that Solyndra has gone belly up, only surviving default two years ago thanks to a massive bailout from President Obama.

Not only did President Obama make a speech on how great Solyndra was, but the White House released an article touting it as one of the greatest businesses in the United States. Most damning, however, is the way that the Administration tied Solyndra to the "Recovery Act," better known as the Stimulus Act.

The sub-head of the piece declares, "Solyndra: Illustrating a Recovery Act Supply Chain!" It then later ties Solyndra to the Stimulus Bill even more, trumpeting how great the company is:
The Recovery Act’s investment in clean energy is having a ripple effect throughout our economy...Solyndra and Recovery Act investments like this one are helping drive progress across the country.
In fact, the White House was so brazen as to release a promotional video declaring that the Stimulus is responsible for Solyndra:

Possibly the best quote, as stated by a worker:  "And, uh, the Recovery Act bringing in, uh, funds for Solyndra to be able to expand right here in our home area was meant (sic) a lot to me."

At this very time, articles saying that Solyndra would fail soon were being published by the news.  For example, this quote comes from about the same time Obama visited Solyndra, Inc.:
As Solyndra's own CEO points out in an open letter response to the audit, Solyndra's future does depend on finding more financing, either through an IPO or privately. If it doesn't, the leading question about what happens to revolutionary companies that fail.
When that was published, the White House was pushing this:
The direct benefits of this investment are easy to see. The plant expansion now underway has already enabled the creation of over 3,000 construction-related jobs and Solyndra estimates that the new factory could create as many as 1,000 long-term jobs in operations and supply. Likewise, a formerly empty field will soon be home to a state-of-the-art manufacturing plant that produces clean energy products that can be exported to the world.

What the television cameras won’t capture are the indirect benefits of supporting Solyndra. The impact of Solyndra’s success is being felt throughout the chain of companies that supply Solyndra with goods and materials.
Can you spell corruption?

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1 comment:

  1. And why build a new factory anyways, there are thousands of empty plants in California