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DoE Dumps On Solyndra's Liquidation Plan

Tyler Durden's picture




 

Just like a bad case of crabs, no matter how much you try to wash it away, it just keeps coming back to bite you. The U.S. Energy Department objected to Solyndra LLC’s bankruptcy plan, saying it fails to protect the government’s interest in collateral; via Bloomberg:

  • *DEPARTMENT OF ENERGY OBJECTS TO SOLYNDRA'S BANKRUPTCY PLAN
  • *SOLYNDRA HAS SPENT VIRTUALLY ALL SALE PROCEEDS, U.S. SAYS
  • *SOLYNDRA PLAN FAILS TO PROTECT COLLATERAL INTEREST, DOE SAYS

We are going out on a limb here but the over/under for a Solyndra 'recovery' vs Greece 'recovery' is going the wrong way for the US government we suspect.

 

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Wed, 10/10/2012 - 15:27 | 2875850 redpill
redpill's picture

Vaporized?

Wed, 10/10/2012 - 15:32 | 2875871 Lohn Jocke
Lohn Jocke's picture

They should make a sequel to the classic movie "Wall Street" and it should be about green technology...no way that movie would suck. Bitchez will love that movie.

Wed, 10/10/2012 - 15:34 | 2875878 Mercury
Mercury's picture

Green, for lack of a better word....is Good.

Wed, 10/10/2012 - 15:36 | 2875884 Lohn Jocke
Lohn Jocke's picture

It's green and folds... that's folds in the way a business folds, not the way bills fold.

Wed, 10/10/2012 - 15:53 | 2875927 Mercury
Mercury's picture

The government of this country controls more than half of the economy kid. About one tenth of that is essential government services, what we like to call “overhead”. The rest is steering tax revenues and debt proceeds to, shall we say, profitable ends. Most of that is what I do: pick winners and losers, collect the payoff then invest in people and projects It's bullshit. I create nothing but we make the rules, pal. We set prices, control the flow of capital, turn shit into shine and subsidize or tax anything we want in or out of existence.  We pick that rabbit out of the hat while everybody sits out there wondering why the hell we did it. Yesterday it was expanding home ownership, today it’s green energy.  It doesn’t matter, we can make water flow uphill. Now you're not naive enough to think we're living in a democracy, are you buddy? It's a command economy. And you're a part of it. You've got that crony instinct. Stick around pal, I've still got a lot to teach you. Now bring up the Prius...

Wed, 10/10/2012 - 15:56 | 2875945 Careless Whisper
Careless Whisper's picture

The plan obviously lacks big multi-million dollar bonuses to the execs, who will let portions of them trickle down to the current election cycle. Once this error is corrected the plan should sail through.

Wed, 10/10/2012 - 16:05 | 2875976 malikai
malikai's picture

I hear napalm works on crabs.

Wed, 10/10/2012 - 16:11 | 2875996 Lohn Jocke
Lohn Jocke's picture

Finally!! An answer to the great American question: "What does this have to do with the Kardashians?"

 

 

Wed, 10/10/2012 - 16:20 | 2876020 redpill
redpill's picture

I thought they had the herps?  Or was it hep b?

Wed, 10/10/2012 - 17:05 | 2876146 malikai
malikai's picture

All correct answers. To receive your permanent gift please see the inside of any one of them.

Wed, 10/10/2012 - 19:35 | 2876457 The Alarmist
The Alarmist's picture

Old protest they used to play in the Resistance part of SERE ... 

 

Children sucking on a mother's tit,


Wounded gooks down in a pit,


Dow Chemical doesn't give a shit,


Napalm sticks to kids.

 

Wed, 10/10/2012 - 15:50 | 2875929 Zero Govt
Zero Govt's picture

alot of businesses will still be scratching their heads regards Mr Presidents comment you "didn't make that" without the generosity of Govt support

at least with Solyndra we can see what a midas touch the Presdent has and what he made

you gotta say one thing for Marxists-Progressives, they keep the bankruptcy business fucking bizzy

Wed, 10/10/2012 - 15:56 | 2875947 ParkAveFlasher
ParkAveFlasher's picture

*SOLYNDRA BLEW IT ALL ON DRIFTWOOD ART, LOVE CHILDREN, AND FAIR TRADE CACAO FUTURES.  REQUESTS DOE TO "HAVE A HEART, BRO!".

Wed, 10/10/2012 - 16:00 | 2875954 Mercury
Mercury's picture

If the Romney camp had the sense to figure out how to get laid in a whorehouse with a fistful of $100 bills they'd be running an ad campaign highlighting one central planning flop after another titled: You Made That!

Wed, 10/10/2012 - 16:08 | 2875987 surf0766
surf0766's picture

Yo,  there are how many weeks left until the election. I am sure there are ADs just sitting there waiting to be unleashed.

Wed, 10/10/2012 - 19:37 | 2876467 The Alarmist
The Alarmist's picture

Actually they'd show a skanky ho, with the tag line being "Aren't you glad you didn't make that?"

Wed, 10/10/2012 - 16:03 | 2875971 SDShack
SDShack's picture

Hey Oprah, this is Barrack... how about we try "YOU get a free solar panel...and YOU get a free solar panel...and YOU get a free solar panel!!!...

Wed, 10/10/2012 - 15:47 | 2875921 dbTX
dbTX's picture

Or better yet; green is gone

Wed, 10/10/2012 - 16:06 | 2875982 QQQBall
QQQBall's picture

The Government could produce it - oops, they already did.

Wed, 10/10/2012 - 17:38 | 2876256 krispkritter
krispkritter's picture

Solarized...

Technically it's the art of blacking out sunlight using paper or plastic and baking the soil to kill anything underneath it.  They did the same thing with Solyndra; buried it under millions of tax dollars until it died...hooray for us taxpayers! /s

Wed, 10/10/2012 - 15:28 | 2875854 LongSoupLine
LongSoupLine's picture

cue new Romney sound byte on Oblama/Solyndra connection.

Wed, 10/10/2012 - 15:28 | 2875855 mr1963
mr1963's picture

I'm certain obalmer told them he'll have more flexability after the election...

Wed, 10/10/2012 - 17:41 | 2876264 krispkritter
krispkritter's picture

Pretty certain he's flexible enough to 'toot his own horn' so he doesn't need any of his old college pals. And from the looks of it, Mrs. O isn't working off any pounds taking care of his bidness...echh, where's the brain bleach?

Wed, 10/10/2012 - 15:28 | 2875858 surf0766
surf0766's picture

Centrally Planned Failure !

Wed, 10/10/2012 - 15:29 | 2875859 1835jackson
1835jackson's picture

It's the hard knock life for us.....

Wed, 10/10/2012 - 15:29 | 2875862 Duke of Con Dao
Wed, 10/10/2012 - 15:32 | 2875872 redpill
redpill's picture

You're on the wrong website if you think people here want to see cheerleading for either one of those shitbags.

Wed, 10/10/2012 - 15:48 | 2875922 Skateboarder
Skateboarder's picture

That's it. I'm writing in Alice Cooper for prez. At least he'll put on a solid, real show...

Wed, 10/10/2012 - 17:02 | 2876138 Duke of Con Dao
Duke of Con Dao's picture

dude... I am for neither one! 

sorry, William Bonzai is great Shit????

"You Didn't Build That Frankenstein!' sez President Obama
- YouTube

Wed, 10/10/2012 - 21:15 | 2876655 crouton
crouton's picture

Worthless cunt :-)

Wed, 10/10/2012 - 15:49 | 2875925 LongSoupLine
LongSoupLine's picture

fuck ypu Duke.  stop trolling your yahoo level horse shit on every fucking thread you political fucktard.

Wed, 10/10/2012 - 21:16 | 2876656 crouton
crouton's picture

Worthless cunt :-)

Wed, 10/10/2012 - 17:10 | 2876170 Oldwood
Oldwood's picture

You definitely need something!

Wed, 10/10/2012 - 21:16 | 2876658 crouton
crouton's picture

Worthless cunt :-)

Wed, 10/10/2012 - 15:29 | 2875864 earnyermoney
earnyermoney's picture

I'm looking forward to Bruce's take on these headlines. What exactly are the DOE objections?

Wed, 10/10/2012 - 15:30 | 2875866 Cognitive Dissonance
Cognitive Dissonance's picture

"Just like a bad case of crabs, no matter how much you try to wash it away, it just keeps coming back to bite you."

Too funny Tyler. Must be bonus season on Wall Street.

<The running of the bulls large pubic lice.>

Bonus run

Wed, 10/10/2012 - 15:45 | 2875888 fuu
fuu's picture

We're going to need a bigger comb.

Wed, 10/10/2012 - 16:35 | 2876060 fuu
fuu's picture

Please tell me that's Spaceballs.

Wed, 10/10/2012 - 16:49 | 2876106 pods
pods's picture

Ummmm, pass the butter.

pods

Wed, 10/10/2012 - 15:33 | 2875874 Yen Cross
Yen Cross's picture

Solyndra,GM, now this one http://nation.foxnews.com/chevy-volt/2012/10/08/tax-funded-volt-battery-....

 The "(WHITE)Shit House", should open a prop trading desk at GS, right next to Tom Stolpers!

Wed, 10/10/2012 - 15:33 | 2875875 davinci7_gis
davinci7_gis's picture

Boy that 16 trillion dollar debt ceiling deadline is slowly creeping up on us!!!

Wed, 10/10/2012 - 15:50 | 2875926 Skateboarder
Skateboarder's picture

Make that 25 tril come January. Or they might just say "fuck it, who needs ceilings when the sky is the limit!"

Wed, 10/10/2012 - 15:37 | 2875891 Quantum Nucleonics
Quantum Nucleonics's picture

Maybe they should have objected BEFORE they subordinated the loan guarantee to Obama donor's equity??

Wed, 10/10/2012 - 15:41 | 2875902 earnyermoney
earnyermoney's picture

That's what I was thinking when I mentioned Bruce down thread.

Wed, 10/10/2012 - 15:43 | 2875908 news printer
Wed, 10/10/2012 - 15:43 | 2875911 adr
adr's picture

3D PRINTING WILL SAVE US!!!!! GIVE THEM ALL $200 MILLION+ US TREASURY LOANS!!!!

Obama knows best, he always picks the winners.

 

 

/sarc of course

Wed, 10/10/2012 - 16:08 | 2875972 Zero Govt
Zero Govt's picture

does anyone know what any home/foreign investor sees in US Treasuries as something of worth???

apart from the ability of the US Govt to tax (thieve) US citizens earnings the only other thing is dribble from Barney Frank and whatever the White House is worth as collateral

that doesn't seem enough for the $Trillions of paper issued

Wed, 10/10/2012 - 16:15 | 2876007 Brother Sebastian
Brother Sebastian's picture

It's all being bought by the Fed.

Wed, 10/10/2012 - 19:39 | 2876473 The Alarmist
The Alarmist's picture

You obviously didn't get the memo ... they're issued by the cleanest dirty shirt in the laundry.

Do you feel cheap and used?  Good, that's part of the battered investor syndrome you are supposed to embrace.

Wed, 10/10/2012 - 15:44 | 2875912 disabledvet
disabledvet's picture

The public interest is in solar power. For the private sector to get all the assets after the tax payer fit the whole bill is...well...I guess I'm surprised. DOE is looking out for the taxpayer it appears.

Wed, 10/10/2012 - 16:05 | 2875979 Dr. No
Dr. No's picture

Its political.  They are trying to cut off potential pain points for Obama in the next debate.  Rest assured DOE is lookign into the interestes of the executive branch.  Just happens it aligns with the tax payer this time.

Wed, 10/10/2012 - 17:11 | 2876171 SoCalBusted
SoCalBusted's picture

DOE rarely has the will or authority to look out for the taxpayer.  Read up on CH2MHILL.

Wed, 10/10/2012 - 15:46 | 2875917 adr
adr's picture

Why doesn't Solyndra just head to Quickstarter?

 

If an iPhone stand that doesn't actually exist can get $1 million pledged, surely Obama backed solar panels can get a couple hundred million. I heard Bill gates loves Quickstarter, he's got billions to pledge.

 

Wed, 10/10/2012 - 16:15 | 2876012 jamezelle
jamezelle's picture

I think you mean Kickstarter.

Wed, 10/10/2012 - 19:41 | 2876475 The Alarmist
The Alarmist's picture

Solyndra is supposed to be Head Start +20, except that they generally have no illusions that anyone who participated in a Head Start programme will ever get to a position where they will qualify for Solyndra-like funding.

Wed, 10/10/2012 - 15:47 | 2875919 Dr. No
Dr. No's picture

So kind of like Student Debt then.  Debt cannot be written down in bankruptcy.  Just in time too for the election.

Wed, 10/10/2012 - 21:17 | 2876660 crouton
crouton's picture

Worthless cunt :-)

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