Solyndra executives lobbied for loans, expecting to spend a good deal of funds to re-elect their benefactor in the White House. Just another money laundering exercise from the Chicago politician in the highest office in the land. This is hardly news. This is the same thing Obama has been doing from the word "go". He is the quintessential corrupt politician. Because he couches his actions in heroic terms does not tarnish the sterling silver examples he has provided.
Rush Limbaugh asked today: how many conservative supporters running "green energy" companies had received preferential treatment and loans in the way that Solyndra has? None.
Solyndra received loans of up to 535 million dollars. These were government guaranteed loans with no repayment necessary. Were the health of the nation and the economy the true goal rather than to support donors and the green energy myth, that same money could have been spent better on the 5.2 million small businesses with 1 to 9 employees. These businesses provided salaries, paid taxes, bought supplies and were probably incapable of the type of financial strength or sophistication to construct tax shelters or employ full time accountants to manipulate their debt and profits. In other words, these are the small businesses that would have benefited the entire economy by their survival.
If Obama had decided to provide relief to these companies, rather than to funnel money to donors through unions, government workers and the like and had taken some of the TARP money and Stimulus funds along with negating the loans to such green energy companies, it could have funded $100,000 similar guaranteed loans to these small businesses, enough to negate their debts, payoff creditors and stay in business. It would have cost 520 billion dollars to do that. Where has that money been better spent?
What could an economy do without that burden on every single creditor, every single supplier of these businesses, that even if they did not go under, are struggling under incredible debt and obligations. The government helped to create their situation, but instead of helping them, they went big by funding big banks, big corporations and ignored these small engines of capitalism.
But, that would not have accomplished the apparent goals of the Obama Administration, which has been to pay off donors like Solyndra and to punish people like Joe the Plumber, who have the temerity to challenge Obama on his motives. While all of these failed business received massive funds, my business went under because I have no lobbyist, no representation in government, no slick agent in a union. I am left to the mercy of collection agencies all by myself, with no power, no representative and no bailout.
While I do not support the idea of bailouts, I see the whole housing debacle as a flawed function of government and therefore their responsibility to those in the industry who were decimated by those same policies. Instead, they favored those actually involved with the scam, those who led the charge to bastardize the industry, to profit from the lies and deceptions. If there were to be bailouts, it should have been to those who suffered from the practices of the banks, not complicit in them.
The funds from the Stimulus Bill that was funneled to governments, unions and union-employing companies ran close to a trillion dollars, only half of that would have saved or created many more millions of jobs by targeting small business.