Solargate: Let the excuses begin!

$527 Million Tax Dollars Down the Tubes?

We have barely heard that the Solyndra executives testifying before Congress will invoke the 5th Amendment and we already have propaganda being put forth by Solyndra.

In announcing that Solyndra executives would invoke their Fifth Amendment rights when they appear before Congress this week, a spokesman for the bankrupt solar energy company laid the blame for its demise at the feet of the same Department of Energy that invested $527 million into the failed enterprise.

Sure folks, the same agency that gave Solyndra $527 million when they probably shouldn’t have are now the same agency who pulled in their horns when asked to guarantee more investors and caused Solyndra to shut down and file for Chapter 11 bankruptcy. Come on now, you can’t have it both ways!

Lets hear what Representative Henry Waxman (D-CA) has to say about Solyndra.

I’m particularly concerned because the CEO of Solyndra met with me in July and said they were doing very well economically, they were going to double their revenues. Then a month later they declared bankruptcy. That makes me wonder what kind of misrepresentation they might have made to the administration.”

Misrepresentation sounds too nice to me, but I guess Representative Waxman wants to investigate more to see if he should be using the term fraud or not.

It will be interesting to see if anything turns up at the hearing besides I’ll take the 5th Amendment for $527 million Alex.

Yes more CO2 Insanity, something that seems to almost be akin to perpetual BS motion.

Source: New York Times 

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2 Comments

Filed under Climate Alarmism, Climate Change, Climate Disruption, Climategate, Co2 Insanity, Editor, Energy, Financial, Global Warming, Government, Green Energy, Green Tech, Obama, Politics, Solar, Solargate, Solyndra

2 responses to “Solargate: Let the excuses begin!

  1. Craig

    “I’m particularly concerned because the CEO of Solyndra met with me in July and said they were doing very well economically, they were going to double their revenues. Then a month later they declared bankruptcy. That makes me wonder what kind of misrepresentation they might have made to the administration.”

    So says Representative Henry Waxman who appears to believe that revenues are an indication of the profitability of a company. Anyone with the slightest understanding of basic accounting would have said to Mr Solyndra, “that is all very well sir, but how is your profitability going to be affected?”

  2. Ralph

    What motivates our government to pour taxpayer money into ventures that the private sector won’t finance?