Saturday, October 8, 2011

A very big scandal

The way the Solyndra scandal is shaping up it will make the Teapot Dome scandal during the Harding Adminstration seem like a picnic at Kindergarten.  This article in business Insider reveals how politicized this project had become.  It also reveals how clueless everyone in the Obama administration is about business in general and the energy field in particular.  Even Rahm Emmanuel, who was supposed to have some business/market credibility based on his couple of years working for a Wall Street investment bank at which he "earned" 16 million essentially for his government contacts, has his fingerprints all over this ridiculous boondoggle.  In a sane world, like the one that existed at the time of the Teapot Dome affair, everyone of these Obama officials who had anything to do with Solyndra, would be frog-marched off to jail and prosecuted for fraud and abuse of public trust.  As it is. this mess will be obfuscated to death and eventually pass from the scene as merely a legitimate government backed venture capital risk that went bad for reasons beyond anyone's control.  It actuality it was a project that never should have been backed by the federal government in the first place, and when it was,  some adult (of which there are none in this administration) should have been assigned to oversee every dime the company spent at every step along the way and been ready to pull the plug as soon as it appeared the company was not meeting benchmarks and was'nt going to make it.  The mindless incompetence of this administration borders on the incomprehensible.

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