Obama's Interior Department Still Going Rogue

[mikesilvia]

The Obama administration's loathsome cowboy, Interior Secretary Ken Salazar, won't take no for an answer. He's been smacked down repeatedly by federal courts for imposing a draconian, junk science-based...

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[11chaos]

I suppose he wants to continue with his Green Power Success. Oh wait, that's right there was no success, if anything his policy's and his support of businesses are worse than before.

[INTIMADATOR2007]

http://www.theblaze.com/stories/no-j...rmous-success/

“Don’t you agree that the loan guarantee program has had a tough record?” Rep. “Cliff” Stearns (R-FL) asked Frantz.“Ah, quite to the contrary, sir,” Frantz responded, “I think it has been an enormous success.”“Okay,” Rep. Stearns continued, “we have Solyndra, we have Beacon, the third recipient went bankrupt in 2011. That’s true, isn’t it?”“It is.”“Okay, the fifth DOE loan went bankrupt just a few weeks ago. Isn’t that true?”“We, we have — ”“I’m asking the questions, please. Isn’t that true?” Rep. Stearns asked again. “The second recipient, a loan guarantee First Wind has withdrawn its IPO [Initial Public Offering] and has significant debt.”“The fourth recipient, Nevada Geothermal, was also the recipient of a ‘going concern’ letter from its auditor. Three of the first five are bankrupt and the other two seem to have significant problems,” the congressman added.


You gotta admit ,they pick some mighty fine investments..

[mikesilvia]

I think is is smart to look strongly at alternative energy, BUT you have to evaluate each for their chance of success when you provide loans. You shouldn't treat green investments any differently. If you look over a business plan and it doesn't SCREAM success then don't invest. When you are guaranteeing loans with tax payer money you should be extra careful. The problem is politicians aren't careful with out tax dollars and these loans become political. If you give money to the Obama administration you have a better chance of getting a loan. I'm sure this was true under Bush and all other presidents, but Obama ran on Hope and Change and changed for the worse.