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Mitt Romney and his allies invested quite a bit of energy last week attacking Solyndra and Solyndra-related investments, which they see as inherently wasteful. As the Romney campaign put it, President Obama "has given billions of taxpayer dollars to companies that later failed," which is scandalous because the White House has tried to pick "winners and losers," rather than letting the free market function on its own.
At a policy level, the attacks are kind of silly. Both parties have made an effort to support America's burgeoning clean-energy sector, and Solyndra is an example of a company that got federal loan guarantees -- from Bush and Obama -- that didn't work out. Some companies thrived after receiving federal assistance; some didn't. It happens.
As Michael Grunwald put it, "That's capitalism. That's lending. That's life. As one Obama aide told me: Some students who get Pell grants are going to end up drunks on the street." It's not as if those failures discredit the entire Pell grant program
But Romney's not just wrong on the substance; he's also remarkably hypocritical. Soon after the Republican hosted a campaign stunt outside a Solyndra office, we learned that a Massachusetts solar panel company that received a state grant while Romney was governor also filed for bankruptcy.
Romney personally awarded a $1.5 million renewable energy subsidy to Konarka Technologies, based in Lowell, a short time after he took office in 2003, the paper reported.
That company filed for Chapter 7 bankruptcy protection and laid off 85 workers.
At the time, Romney called for more grants to the renewable energy sector, saying such investments shouldn't be left to free enterprise alone. Indeed, Romney loved picking winners and losers with public funds -- even when it meant loan guarantees to firms that supported his campaign.
Making this just a little more entertaining, there's also Evergreen Solar, which received millions from the Romney administration before filing for bankruptcy -- and ending up as anti-Obama data point in an attack ad from Karl Rove's smear operation.
The point isn't that all, of even some, of Romney's loan guarantees are problematic, but rather, the point is this guy has a lot of nerve making Solyndra's bankruptcy one of the centerpieces of his campaign. Look for more on this on tonight's show.
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"...the point is this guy has a lot of nerve making Solyndra's bankruptcy one of the centerpieces of his campaign."
Didn't Rawmoney get "Federal guarantees" when he headed the Olympics, and as the CEO of Bain (Vulture) Capital didn't he leech on the public teet as he was siphoning off money for his "private investors" even as those companies filed for bankruptcy?! The nerve! Hey Mitten pot/kettle which one are you?
It's Mittens ... Pot/kettle? He's both!
Its politics people and both Romney and BO will be slinging the mud for the next 5 months. This is what Cory Booker meant by BO's negative attacks of Romney's Bain private equity experience as nauseating. Its the same hypocrisy that BO exhibited by criticizing Romney's Bain experience in the morning and then going to a Blackstone fundraiser collecting $35,000 per plate that same night.
I believe the difference between public and private loans is what I call the "OPM" (Other People's Money) mentality of our federal government.
Solyndra was given loans of over 1/2 a billion dollars (really? we couldn't find out if it would work without risking less?). Solyndra was in financial trouble when loans were granted, major red flags. The loans weren't structured correctly, the American taxpayer isn't even first in line to be repaid during bankruptcy or liquidation.
I suspect, with governor Romney's Bain experience, even though I don't agree, the loans he approved were better protected for the taxpayer. This instance exemplifies exactly the reason the Federal government should NOT be in the business of loaning taxpayer dollars without the experience and accountability of private industries.
Sigh,
ANOTHER PERSON who doesn't know how the government works!!! Do you REALLY think the President has time to get into the nuts and bolts of everyone who the government loans or grants money to?? Do you REALLY THINK it is the President who approves loans and grants??
The people who review the companies and make the decisions to grant, loan, not grant, not loan are the same people who were doing it under Obama and Bush and it will be the same people who are doing it under the next President, whoever he is.
I know you think it is YOUR money personally and you don't much care that many of these loans and grants are given out to help develop new industries that, if they succeed, will help out the people of the United States in various ways, if not YOU directly - all you can see is YOU think YOU paid a huge amount of your taxes for this, when in actuality, you probably paid less than 1 penny towards Solyndra - but hey, don't let the facts get in the way of a good story!!!
Hypocrisy is Mittlers middle name ,,,, :o)
This guy is so pathetic, it's amazing that he can even get out of bed in the morning.
Wake up Americans and vote A Straight Democratic Ticket..
Our Constitutional Freedom is hanging by a thread. Whitehorse Romney is not going to save it he wants to change it to benefit the 1%..And then he will be King Romney.
Sounds like Mitt forgot what the gander sauce tastes like!
Awww, Romney is just upset that he wasn't still in business and couldn't "gut" Solyndra before they went bankrupt on their own.
By the way: What was the upshot of that FB poll where they wanted you to "LIKE" if you disagreed that Rachel Maddow was "the smartest person in journalism" as introduced by David Letterman? Were there a lot of "LIKES"? I hit "DISlike"!
I hope the newspapers around the country picked that story about Mitt up. He's so hypocritical! I know a Ron Paul supporter who says if Mitt is the nominee for the republicans he will vote for Obama! Yea! Now, if we could only get the rest of them to do that.
I want Obama for another 4 years!!!!!!
Some interesting dynamics at work here:
1. Romney and his bankrolled buddies continue to take a relatively (in the grand scheme of things) minor incident - start ups can and do fail every day after all - and spin it in such a way that the factoid takes on a life of it's own. Laughable, but scary that they use such drivel so effectively.
2. The Dems are being way too complacent about what is going on - for months now we have all stared in amazement as the GOP continues to step on their &*#> thinking the president can't possibly lose to this buffoon. Where's the mobilization for voter registration? Where's the mobilzation for ensuring the state that are trying to "legally" purge their voter roles of people that will largely vote Democratic?
3. Latest "polls" have that Mittens is becoming more popular - more likeable - whatever....now that the field is down to just one candidate - don't you think that the proproganda machine that is spending megabucks on 24x7 negative advertising against the White House is working? We have not seen ANYTHING yet...it is only going to get worse over the next five months. And there are way too many people seemingly buying it.....
4. Why aren't people paying more attention to the complete lack of any meaningful work being conducted by congress? These are the real culprits and most need to go in November. This is where the dialogue should be centered.
This 3 ring circus is another round of the "big shell game" that has become our government. Pay attention and get out the vote!
From my crotchety old perch as an independent cynic, this is what I see:
This has become the "ME ONLY" generation and most people in this country look inward to what THEY want personally instead of what is good for all. The preamble to the Constitution:
no longer has any meaning to them. The Republicans have tapped into this "ME ONLY" thought and "promises them that they too are "special" and can become Romneys even though the Republicans aren't about to let them have that chance in reality. Republicans don't share! If you read the Tea Party manifesto, you would see that "me" story printed clearly on every page! They really DON'T have any empathy for anyone else!
To be concerned about what Congress is doing means that you have to look outwardly and to the future. What happens in Congress doesn't really concern the "ME ONLY" generation because they live from day to day and are concerned about what happens to them THAT DAY and don't think about exactly WHAT the 111th and 112th Congresses has cost us.
Although I am NOT a liberal, to me it is pretty much only the liberals in this country who are looking outward to what is better for all. But they see themselves as "isolated" and don't want to use the tactics that they "think" belong to the Republican Party. OWS is a good example - they were so intent on not having any leaders that they failed to establish themselves as a valid opposition to what is happening economically in this country. If they HAD organized, I can't IMAGINE what they could have accomplished!!! When you have as large an outpouring as OWS but no leaders, then what you have is anarchy and their effectiveness and power is easily overcome - which unfortunately what has happened.
I really don't know HOW to get the masses looking outward and to the future of all children and grandchildren to come - I think it is going to take a massive failure of our economy or something of that nature. A war won't do it - as you can see - the only people who sacrificed for this war were the soldiers and their families - the rest of this country just went on as if Iraq and Afghanistan weren't happening, and they are still behaving that way. The only thing important to them is that they want to make more money and have their taxes lowered!
How do they vote? Why, by how many ads they see or how cute the candidate is, or who last told them that "If I get voted in, your life will be miraculously wonderful immediately"!
Unfortunately, I think that this generation is "lost" - and I am hoping the next generation is MUCH better than we were!!
Thank you for posting the preamble. I wonder what "promote the general welfare" would mean to Mitt Romney?
Romney and Trump are the Bankruptcy kings, I think one of them wrote a book on it.