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Eight DOD Mistakes That Are Worse Than Solyndra

Eight DOD Mistakes That Are Worse Than Solyndra

 

There’s been a lot of political finger pointing since news of Solyndra’s bankruptcy shocked the country.

Mostly GOP fingers pointing at the Obama administration for its audacity to support a source of energy that isn’t coal or gas.

Some are saying that this $535 million “scandal” could poison the well for future green investments.

Because a single failed investment is all the reason you need to abandon an entire industry, right?

Wrong.

Here, courtesy of Philip Bump, is how the Solyndra investment compares to what the Times calls the Pentagon’s “biggest boondoggles.” Dollar amounts in billions.

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Image Credit: Flickr - jurveston

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81 comments

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12:23AM PDT on Oct 27, 2011

Are businesses like Solyndra going to keep the country safe? Military spending will.

12:21AM PDT on Oct 27, 2011

@Brian F,
Currently, NOBODY can produce solar panels (OR wind turbines) that are cost effective. Even the Chinese, with their lower labor costs, haven't been able to do it. It will be several years before solar and wind produced energy will become cost effective.

12:15AM PDT on Oct 27, 2011

The Solyndra scandal isn't about the company itself as much as it was about the timing of the loans Obama provided Solyndra with the $535 million dollar loan when it was already known Solyndra was going to go bankrupt, and the loan was only going to delay that fact. (tossing our tax dollars after KNOWN bad business) The other part of the scandal was the fact that one of Obama's biggest campaign donation bundlers was running Solyndra when the loan was given, and that even knowing Solyndra was going bankrupt, the terms of the loan were changed to prevent the government from recovering any of the money from the sale of the company assets, and placed another investor (who just happen to be another huge Obama campaign contributor, ahead of the government for receiving the recovered assets. (VERY unethical and bordering on criminal actions)

7:49PM PDT on Oct 25, 2011

The GOP just doesn't want the USA to suceed in solar and wind power, so the're using the Solyndra failure, to scapegoat and blame Obama, and try to end funding for solar and wind power. China spends way more than us in solar and wind power and can produce solar panels more cheaply. We need to increase the production of solar panels to drive the cost down as far as we can. Then solar and wind power will take the place of dirty oil, coal, natural gas, and nuclear power.

9:00AM PDT on Sep 25, 2011

Have been very suspicious of the foo-foo-rah. Just what the Dr. ordered to slam dunk all the environmental legislation. Tooooo convenient.

3:42AM PDT on Sep 25, 2011

A quick tally of amounts stops at roughly 1,25 TRILLION US $ in lost taxpayers' money. Of course there are also winners: the big corporations that are constantly creating all those millions of steady jobs, right? That must be why economy (and the middle classes) are doing so well these days 0:-)

9:43PM PDT on Sep 23, 2011

Wow. That puts the Solyndra loan in perspective.

Anyone who doesn't realize that the republicans are making a much bigger deal out of Solyndra than it actually is, must have no concept of what political posturing is all about.

Wake up people and stop believing every sound bite! And don't forget that the government already got plenty of that money back in the wage taxes of the 1000 employees plus the sales and property taxes they paid with the money they spent, not to mention all of the other people who profited from the goods and services they purchased who also paid taxes.

Did everyone forget that the way the United States recovered from the Great Depression was by expanding government spending and creating government jobs to get the economy moving again? Or did that get removed from the textbooks along with any mention of evolution?

10:43AM PDT on Sep 23, 2011

Thanks Beth.

7:52AM PDT on Sep 23, 2011

We all knew the military could waste money... .

1:58PM PDT on Sep 21, 2011

Love this!

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