Tuesday, November 22, 2011

The Green Economy - Green Jobs - The Solyndra Scandal and Bankruptcy

Nov. 22, 2011

The Green Movement pushes several fantasies. One is that Global Warming is man-made. Another says that we should push a clean energy economy which doesn’t exist. It calls this the Green Economy. Yet one more demands that Government select companies for success. The Obama Administration made this a reality when it chose the Solyndra Corporation its Green Economy poster child in 2009. They authorized a $535 million loan guarantee to this solar systems maker! Senator Jim DeMint (R-SC) called it “venture socialism.”

In September of 2009 Vice President Biden addressed the celebration held in the loan’s honor virtually – using teleconferencing. He praised Solyndra saying they were creating jobs. He fantasized that these were “jobs you can raise a family on, green jobs, jobs that will serve as a foundation for a stronger American economy. Which is why it's so important we invest in Solyndra and invest in what Solyndra is doing. Not just to get us through today but to power our way to a much brighter tomorrow.” Several business people predicted Solyndra a failure before the Bush Administration refused the loan. A NY based energy analyst, Peter Lynch, spoke to ABC news and told them that Solyndra’s model of making something for six dollars and selling it for three – won’t work. I guess he and the others understood this better than President Obama’s people. Solyndra filed for bankruptcy in September of 2011.

Solyndra’s not the only one. At least four other companies like them which received stimulus funds are out of business. I wonder where Solyndra’s $535 million tax payer dollars are? The scandalous part of this is that Solyndra executives donated to the Obama campaign. Charles Krauthammer, a columnist, said, “this is a classic example of this toxic combination of lemon Socialism and crony capitalism.” He said that one can destroy an economy when a beaurocrat decides where capital ought to be allocated rather than letting the market decide. Cronyism implies corruption and is defined as the act of favoring friends in business deals or in politics for no other reason but friendship.

Fox News (which other news agency would show such professionalism?) reported today that the interest in the purchase of Solyndra is quite low at this time. Obama Administration officials are under fire, being asked to testify in front of Congress. Why couldn’t they let the free market decide when new sources of energy would be in-demand and economical? As Michelle Malkin put it, “The scandal chickens are coming home to roost for the Obama Administration.” How appropriate!

BLOG ROLL (Political):

Scott Martin


Denver Tea Party

Conservative Blogs Central







Keywords: Conservatism, Conservative blog, Mark A. Cohen, From The Left to the Right, Green Movement, green jobs, Joe Biden, Barack Obama, Green Economy, Solyndra

Keyword Phrases: "Conservatism”, “Conservative blog”, “Mark A. Cohen”, “From The Left to the Right”, “Green Movement”, “green jobs”, “Joe Biden”, “Barack Obama”, “Green Economy”, “Solyndra”

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