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Taxpayers To Recover $0 On Solyndra

Tyler Durden's picture


It will come as no surprise to some but the bankruptcy court hearing for Solyndra just threw up all over any hopes that our taxpayer-funded loans to this solar sinkhole will be recovered:


So it looks like a $0 recovery for us - US Government: Picking Losers One Sector At A Time.


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Wed, 10/17/2012 - 12:45 | 2898286 hedgeless_horseman
hedgeless_horseman's picture



The larceny will not be debated, questioned, nor televised.

Wed, 10/17/2012 - 12:51 | 2898314 idea_hamster
idea_hamster's picture


And here we see the difference between opulent private equity and average private citizen:

When government is standing behind PE, it's the govt getting f'k'd, but when government is standing behind you and me....

Wed, 10/17/2012 - 13:06 | 2898362 economics9698
economics9698's picture

Hope and Change.

Wed, 10/17/2012 - 13:11 | 2898382 Dr. Richard Head
Dr. Richard Head's picture

Could I get a loan from Uncle Sam and not repay it?

Wed, 10/17/2012 - 13:23 | 2898413 Richard Chesler
Richard Chesler's picture

You didn't profit from that.

Wed, 10/17/2012 - 13:50 | 2898482 redpill
redpill's picture

They could have flown, they just didn't flap their arms hard enough.

Wed, 10/17/2012 - 14:17 | 2898580 HobbyFarmer
HobbyFarmer's picture

" US Government: Picking Losers One Sector At A Time"

US Citizens: Picking Losers One President At A Time.

Wed, 10/17/2012 - 13:31 | 2898431 Gert_B_Frobe
Gert_B_Frobe's picture

NO! You'll wallow in your mediocre, low-pay part-time employ and like it!!!

Wed, 10/17/2012 - 13:23 | 2898412 vast-dom
vast-dom's picture


Wed, 10/17/2012 - 15:03 | 2898702 CPL
CPL's picture

What's the total loss on that?

2011:  $535 million federal loan in 2009 and collapsed on Wednesday

2012:  spent it on a bender...and now holding less than company assets with channel partners begging them to take back their shit.



They are going to be short on cash once someone sharpens a pencil...all that inventory floating around out there. 


So the silver lining is solar crap is going to be dirt cheap, but with no offered support.  If it gets it under 1 buck a watt...hmmmm, would be time to go buying in bulk.  Doubt there will be an opportunity again to purchase a lifetimes supply of solar cells again.

Wed, 10/17/2012 - 19:00 | 2899546 fnord88
fnord88's picture

China seems to be playing this game very smart. Sell high tech products at a loss to bankrupt US companies with valuable patents, then buy them for cents on the dollar. Solar and battery tech will replace coal and oil at some stage, but by then china will own it all.

Wed, 10/17/2012 - 16:21 | 2899106 LMAOLORI
LMAOLORI's picture




Actually YOU are standing behind the government it is YOU in the U.S. Government so it is YOU getting screwed both by Cronies like Solyndra and by the politicians for their friends.

Wed, 10/17/2012 - 12:58 | 2898321 DoChenRollingBearing
DoChenRollingBearing's picture

@ h_h

+ 1

VERY LITTLE about the Solyndra / alternative energy debacles last night.  Very little about Benghazi either.  NOTHING about the "Fiscal Cliff".  The MSM is bought off, that is clear.  Did Candi do it for the money, or because of her ideology?

Wed, 10/17/2012 - 13:00 | 2898344 inevitablecollapse
inevitablecollapse's picture

i heard it was for a bag of cheetos and a mountain dew

Wed, 10/17/2012 - 13:09 | 2898359 surf0766
surf0766's picture

Is there any doubt cnn.nbc, etc are done as news networks.

Wed, 10/17/2012 - 13:33 | 2898438 bobnoxy
bobnoxy's picture

In a world where Fox News tops the ratings, the rest are safe. Literally anyone can do the news, and say vitually anything, regardless of merit, or the lack of it. It's not news any more. It's information-entertainment, just like wrestling is sports-entertainment.

You want real news? You must be a foreigner.

Wed, 10/17/2012 - 15:07 | 2898712 NotApplicable
NotApplicable's picture

You got something against infotainment?

Bread and circuses, bitchez!

Wed, 10/17/2012 - 16:52 | 2899260 LMAOLORI
LMAOLORI's picture



That evil Fox lol they are all State Controlled Propaganda now including Fox some of them even have their stories vetted by the Slime House before they are published.

Donations by Media Companies Tilt Heavily to Obama


All the major media companies, driven largely by their Hollywood film and television businesses, have made larger contributions to President Obama than to his rival, former Gov. Mitt Romney, according to the Center for Responsive Politics, a nonprofit, nonpartisan Washington-based research group that publishes the Open Secrets Web site.

The center’s numbers represent donations by a company’s PAC and any employees who listed that company as their employer.

Even companies whose news outlets are often perceived as having a conservative bias have given significantly more money to Mr. Obama. Rupert Murdoch’s News Corporation, for example, has contributed $58,825 to Mr. Obama’s campaign, compared with $2,750 to Mr. Romney. The conglomerate, which owns Fox News, The Wall Street Journal, The New York Post and the 20th Century Fox studios, gave roughly the same amount to Mr. Romney’s Republican primary competitors Rick Perry and Ron Paul as it did to Mr. Romney.

US journalists trade independence for access [White House censors officials' quotes]


Wed, 10/17/2012 - 13:30 | 2898430 DoChenRollingBearing
DoChenRollingBearing's picture


Would that have been a LARGE bag of Cheetos and a non-Bloomberg approved 32 oz Mountain Dew?

Wed, 10/17/2012 - 13:40 | 2898457 inevitablecollapse
inevitablecollapse's picture

you're damn right - this obesity problem is not going to solve itself!

Wed, 10/17/2012 - 14:00 | 2898525 Harbanger
Harbanger's picture

Bengazhi was talked about. CNN’s Candy, misled 60 million viewing Americans in the debate when she “surprisingly” lied along with Obama. When Romney made the point that Obama took many days before he finally started calling the attacks on our Benghazi embassy an “act of terror“. Candy jumped in insisting Obama DID call the attack an act of terror. Then Muchell started clapping breaking the debate rules, (it’s on video) to further confuse the issue. For weeks the Pres was lying and saying it was all “spontaneous” and because of a “video“. No it wasn‘t, it was Al Qaeda and he knew it. It was pre-planned and coordinated for the 9/11 anniversary. Guess what folks, Al Qaeda is alive and well and the WH is covering for them.

Wed, 10/17/2012 - 14:13 | 2898568 dbTX
dbTX's picture

Neither, she wanted to flaunt her beauty

Wed, 10/17/2012 - 15:11 | 2898724 Ruffcut
Ruffcut's picture

Whata biog pile of bullshit. The oil cartel does not want solar.

IT ain't that sophisticated. 

I wanted a unit for if anything, my hot water heated. NOthing was ever release to the public creating industries, supply demand and the normal shit that built this country.  

Oh, but the military kicks the shit of anyone on the planet and the gov can't do a little solar gig. Pitiful clusterfuck.

Wed, 10/17/2012 - 19:02 | 2899551 neidermeyer
neidermeyer's picture

There is video of "workers" destroying the remaining unshipped components (about $8M worth) after the insolvent announcement smashing them into several rolloff construction dumpsters, they were German sourced and the supplier was unpaid, they found out via Youtube ,, the parts should have been made available/returned to them ,, the completed product in inventory was sold off at VERY CHEAP prices and resold to installers nationwide.. you could buy it from middlemen on eBay for about 25% of original sticker... Somebody made $$$$$ ....  

Wed, 10/17/2012 - 23:24 | 2899760 foofoojin
foofoojin's picture

you can't make that claim with out  a source.


here you go.


althouy a few pallets survived the ordeal it looks like.

now here the real question. where they added to the list of assets ?

 althou i am i alittle confused how the total assets is less then 75. but the building sold for more then 90 million?


Wed, 10/17/2012 - 12:46 | 2898289 nmewn
nmewn's picture

Could someone please get these fuckers away from the public Treasury?

Thank you.

Wed, 10/17/2012 - 12:48 | 2898294 hedgeless_horseman
hedgeless_horseman's picture



The only way to not pay the inflation tax is to not use the currency.

Wed, 10/17/2012 - 13:01 | 2898350 crusty curmudgeon
crusty curmudgeon's picture

Provide more than $500 million to your buddies through a worthless company.  That's the Chicago way.

Wed, 10/17/2012 - 13:06 | 2898368 Rat Patrol
Rat Patrol's picture

Dems rape everything.


The taxpayers just need to put some ice on that.

Wed, 10/17/2012 - 16:53 | 2899262 LMAOLORI
LMAOLORI's picture



The Government Will Never End the Fed but the Fed is Destined to Die Anyway

Wed, 10/17/2012 - 12:46 | 2898290 Sixdeuce062
Sixdeuce062's picture

Obama: candi no candi wait stop him dont let him say it okay that enough everyone gets a drone atttack

Wed, 10/17/2012 - 12:46 | 2898291 firstdivision
firstdivision's picture

How much did we lose on GM again?

Wed, 10/17/2012 - 12:54 | 2898320 MacGruber
MacGruber's picture

Totally. And how come no sarcastic quips for the oil industry that pockets BILLIONS of dollars in subsidies as profit every year? That money isn't even for something new, it's just a transfer payment to reward the rich oil barrons that get wealthy off of public lands to begin with. I guess it's only in fashion to pick apart goverment decisions if it's a new industry that's in competition with the status quo, and if the president is a supposed bleeding heart liberal (even though he's proven through his actions to be a staunch neocon).

Wed, 10/17/2012 - 13:07 | 2898335 hedgeless_horseman
hedgeless_horseman's picture



Basic economics, we the consumers are the one's being subsidized, not the producers.


Similiar to farm subsidies...


Most farm subsidies are actually just transfer payments of money taken via taxes from the wealthy minority to pay a portion of the cost of food for the many food consumers that do not pay taxes; nearly 50% of the US, if I remember correctly.

Price paid to farmer = government subsidy + artificially low "market price"

The whole "paying farmers not to produce" is just a distraction, and represents very little of the actual payments.

This inflation effect would be additive to dollar depreciation, should tax revenue not be available to subsidize the price of food.


Price paid to farmer = government subsidy + artificially low "market price"

The farmers have no choice, because they do not set the price. Care to know who does?


You understand how school lunch programs work, right? The schools are not being subsidized, the poor students are. It is the same with farm subsidies.


"Paying producers not to produce" is a fallacy perpetuated by the nomenclature. The payments should be called eater subsidies, rather than farm subsidies. Look at the numbers behind the headlines.




Wed, 10/17/2012 - 15:25 | 2898764 NotApplicable
NotApplicable's picture

These ideas would only be valid in a truly free market (and I agree fully with the logic presented within that context).

As for the farm subsidies, most programs I know of are labeled "crop insurance" and cover farmer's losses due to that mean ole Mother Nature screwing up the season, and thus have no effect on the supply/demand curve, and thus the resultant price.

As for "paying not to grow" as a myth? Well, maybe where you live. Around here they call it "conservation." Fields are left fallow in exchange for fedgov cash. You'll know when you've found a subsidized tract when you see it on fire due to a "mandated burn" (shows up in the 911 log like that as well, since they're supposed to alert the FD first).

You can't even cut hay on it! (I learned that this year when they lifted that restriction due to our severe drought)

Then there's the dairy (gubmint cheese) subsidy, where fedgov SETS THE FLOOR on prices by buying up all product that would otherwise fall in price (like Benron and Timmah's game). Do higher consumer prices equal a subsidy? Nope. ALL of that purchased product goes into underground storage in Kansas City.

Like I said, your points are valid, but not in a mercantilist economy. Otherwise they'd never bothered to game it like they have.

Oh, and I didn't junk you, btw.

Wed, 10/17/2012 - 16:23 | 2899111 Dr. Acula
Dr. Acula's picture

>we the consumers are the one's being subsidized, not the producers

So you're saying a subsidy given to the producers is not a subsidy given to the producers?

>[farmers] do not set the price

They don't set the price on the food they sell?

>The whole "paying farmers not to produce" is just a distraction... "Paying producers not to produce" is a fallacy

So which is it? A distraction or a fallacy?

Your post makes no sense.

Wed, 10/17/2012 - 12:59 | 2898336 insanelysane
insanelysane's picture

So when the Dems had complete control of the gov in 2009 and 2010 they didn't end those why???  Wake the fuck up you moron.  The money is sent from the gov to the companies and then back to the campaigns for both parties.

Wed, 10/17/2012 - 13:11 | 2898385 Rat Patrol
Rat Patrol's picture


Much like speed is life for fighter pilots, cheap energy is life for economies. What kind of moron would demonize oil companies?


Enjoy your solar, wind and ethanol...and your nation's poverty.

Wed, 10/17/2012 - 14:00 | 2898518 DCFusor
DCFusor's picture

I am enjoying my solar (made in America panels) and electric car, yeah, that made in America one.

And, the result is I have a lot more of my income being discretionary, so I can spend it in the economy here.

Exactly how is that worse than buying a foreign car - burning foriegn oil, burning coal for my power, and thereby sending all my dough overseas to people who want us dead, rat patrol?  I think you might have a cognitive problem here.

Wed, 10/17/2012 - 14:12 | 2898557 Rat Patrol
Rat Patrol's picture

Your $80k car subsidized down to $40K? You are a parasite on the tax payers.


Coal is local, moron. Fracking is good. Death to Saudi.


It is nice you have now have "extra" cash courtesy of the middle class. Souless bastard.

Plus battery base anything is harmful to the environment, you Gaia hating fool. Why do you hate Gaia?


Wed, 10/17/2012 - 14:52 | 2898669 ShrNfr
ShrNfr's picture

Oddly, the tree huggers never talk about the topic crap that you generate when you mine rare earth elements or produce solar panels. I have nothing against solar except that I need a big muthafucker battery bank to keep the lights on at night. 100 KWH of batteries is one load and a half of lead. The six volt cells for 1/2 of the bank (two done in parrallel) weigh in at over 300# each. The bank is a total of over 2 tons of lead. Stupidity comes easy for folks who are not engineers. Stupidity comes easier for people who think AGW is real. Sorry, but I got my PhD from the place at the corner of Mass Ave. and Memorial Drive in Cambridge. I know better. It is the boneheads like Jeremy Grantham that are mbas who fall for that shit.

Wed, 10/17/2012 - 15:33 | 2898808 NotApplicable
NotApplicable's picture

I've had a Honda Civic Hybrid for ten years now, and let me tell you, nothing is more satisfying than when a clueless do-gooder gets all excited about how I'm saving the Earth.

My reply? "It's so nice to see an evironmentalist who understands how important it is to support the mining industry! I mean, you do realize there's over a hundred pounds of batteries in the trunk, right?"

Then I let them in on a secret. I bought the car because it was obvious to me that the economy was being sacrificed by the criminals they (those evil-do(good)er voters) insist upon empowering over us all.

Wed, 10/17/2012 - 23:58 | 2900106 HangSorosHigh
HangSorosHigh's picture

Just wait until electric cars actually become cheap and useful - the treehuggers will immediately discover how bad the battery manufacturing process is.


And guess what'll happen once solar panels become useful? They'll suddenly discover the same thing.


Wind turbines will always be useless though, so one can expect that treehuggers will always like them.

Wed, 10/17/2012 - 18:22 | 2899480 Offthebeach
Offthebeach's picture

Coal and oil are more organic then organic farming.
Solar panel manufacturing ( none of which use solar panels to make panels. 2nd law of Thermodynamic's anyone? Suppose not.)

Natural carbon all the way baby.

Wed, 10/17/2012 - 13:17 | 2898398 ShrNfr
ShrNfr's picture

Odd, XOM paid more in taxes to the US government than they earned from their US operations. If you consider that a subsidy, I suggest you do a self colonoscopy with your cranium. It does not seem to be worth anything else.

Wed, 10/17/2012 - 13:45 | 2898469 bobnoxy
bobnoxy's picture

Er...huh? Are you dumb enough to believe anyone would pay more in taxes than they earn here? And no, it's not due to what they make overseas being a factor. What they earn overseas stays there until the Republicans pass another ''Jobs Creation Act of 2004''.

Let me look that up. Oh, this looks good.

''In the first months of this year, Exxon (XOM, Fortune 500) says it paid $3.1 billion in taxes in the United States -- more than even the $2.6 billion in profit it made selling oil and gas.

''To get to that number, the company includes the federal and state gasoline taxes that the company collects from drivers and passes on to government coffers. It also includes payroll taxes the company pays on behalf of its employees.''

Solid repeating of that lie. Let me guess. You're an oil company lobbyist?

So, I paid at the tax the pump, and Exxon takes credit for paying it themselves? I don't know what's more amazing. That they would even attempt to peddle that, or that anyone would believe it. And there you are!

Try this on instead;

''Here's another: Between 2008 and 2010, a dozen major US corporations—including General Electric, ExxonMobil, and Verizon—paid a negative tax rate, despite collectively recording $171 billion in pretax US profits, according to an analysis by Citizens for Tax Justice. Taken together, these companies' tax burden was -$2.5 billion, and ten of the companies recorded at least one no-tax year between 2008 and 2010.''

Wed, 10/17/2012 - 14:55 | 2898672 ShrNfr
ShrNfr's picture

Bozo, you forgot the royalty payments that they pay when they drill. Duh. And no butthole, I am not a lobbyist for anything. "Citizens For Tax Justice" yeah right. You just impeached your slimy ass right there. Mother Jones? You gotta be cuking kidding me.

Wed, 10/17/2012 - 15:08 | 2898716 bobnoxy
bobnoxy's picture

Shooting the messenger? I guess it's all you have left. What if those sources actually referenced facts? No time to check?

Paid more in taxes than they made?

On the surface, you should have known something was wrong with that. Unless you had reason to give them the benefit of the doubt amid an argument that was obviously preposterous.

Wed, 10/17/2012 - 17:02 | 2899286 LMAOLORI
LMAOLORI's picture




I think people should provide proof so

When It Comes To Paying Taxes, Big Oil Takes The Biggest Hit


ExxonMobil in 2011 made $27.3 billion in cash payments for income taxes. Chevron paid $17 billion and ConocoPhillips $10.6 billion. And not only were these the highest amounts in absolute terms, when compared with the rest of the 25 most profitable U.S. companies (see our slideshow for the full rundown of who paid what), the trio also had the highest effective tax rates. Exxon’s tax rate was 42.9%, Chevron’s was 48.3% and Conoco’s was 41.5%. That’s even higher than the 35% U.S. federal statutory rate, which is already the highest tax rate among developed nations.

(The lowest taxpayers among the most profitable companies? Automakers Ford and GM, despite $20 billion and $9 billion in net income, respectively, paid a scant $270 million and $570 million in taxes — simply because they have billions in previous-year losses to balance against recent profits.)

‘Taxation Hero’: ExxonMobil has paid more than $1 trillion in taxes since 1999, which is 3x its profits over that period

Wed, 10/17/2012 - 13:54 | 2898497 Winston Churchill
Winston Churchill's picture

Lets get this straight.

Oil companies do not get subsidies.

They do get accellerated capital expenditure allowances to offset against corp. tax.

The nature of the business requires it,just as a horsefarm gets break the other way.

They are getting to keep a little more of THEIR profit.

We are not yet Marxist( in spite of Obummer) sp their profits are theirs.

Wed, 10/17/2012 - 14:58 | 2898684 ShrNfr
ShrNfr's picture

Yes, the accelerated capex is there because a well in the GOM and other places has a very finite lifetime before it waters out or goes dry. At that point, all the PP&E on the site except for perhaps a towable drilling rig is worthless in general. This is not the building that you can straightline depreciate over 40 years.

Wed, 10/17/2012 - 16:34 | 2899174 Dr. Acula
Dr. Acula's picture

I wonder who downvoted you?

Was it perhaps a parasite who wants to perpetrate robberies against the oil companies? Or a tax slave who is jealous that others aren't subjected to robberies as much as they are?


Wed, 10/17/2012 - 13:07 | 2898373 nmewn
nmewn's picture

"How much did we lose on GM again?"

Looks like the US government will have to get $53 a share for Government Motors stock just to break even.

Its around $25, who's buyin when "we" already own it? ;-)

Wed, 10/17/2012 - 14:05 | 2898540 Water Is Wet
Water Is Wet's picture

GM also got some loans from the DOE which turned into grants which turned into losses right before GM filed for bankruptcy.  I'm skeptical of every story quantifying GM's loss because there was some shady shit right before the bankruptcy filing.

Wed, 10/17/2012 - 15:00 | 2898692 ShrNfr
ShrNfr's picture

Not only that, GM newco got to carry their losses over from the GM oldco in the 363(n) sale. That is not the way it is supposed to happen.

Wed, 10/17/2012 - 17:08 | 2899304 LMAOLORI
LMAOLORI's picture




GM also didn't pay any taxes ZERO and we bailed out GE Credit in addition to GE auto

General Electric Paid No Federal Taxes in 2010

Report: GE Capital Is Close To Systemic Risk Designation


I wrote about GE Capital just the other day. When last we checked, they were using their nominal bank status to collect bank bailout money -- but avoid the same restrictions as banks, thanks to intense lobbying that always seems to work when it's on the behalf of the bad guys. CEO Jeffrey Immelt (who is leading Obama's job creation efforts - funny, how most of GE's jobs went out the door to other countries) is also lobbying for the Grand Bargain.

Now it turns out that his company (which seems to be operate more like a casino) is about to be designated a systemic risk. Which means if they tank, we'll hand them even more money and talk to them sternly to protect the whole house of cards!

Wed, 10/17/2012 - 12:47 | 2898293 Cognitive Dissonance
Cognitive Dissonance's picture

"Taxpayers To Recover $0 On Solyndra"

Yeah, but the taxpayer can just write that off.


Wed, 10/17/2012 - 12:53 | 2898311 hedgeless_horseman
hedgeless_horseman's picture



Unfortunately for the taxpayers, any nominal appreciation of hard assets like gold or real estate resulting from our government's currency debasement are assessed as capital gains, and taxed as such. 

Wed, 10/17/2012 - 12:57 | 2898329 DoChenRollingBearing
DoChenRollingBearing's picture

And for gold, as a "collectible", that capital gains rate is 28%.  Ouch!  One lesson: Don't sell your gold!

Wed, 10/17/2012 - 13:00 | 2898340 hedgeless_horseman
hedgeless_horseman's picture



Ever try booking a loss on your dollar holdings?

Wed, 10/17/2012 - 13:18 | 2898402 ShrNfr
ShrNfr's picture

That is some of the beauty of gold coins. Move them on eBay and nobody knows...

Wed, 10/17/2012 - 15:26 | 2898771 Harbanger
Harbanger's picture

Yeah, right.  Nobody knows you sold them on ebay.  Nothing has reduced crime like the web.

Wed, 10/17/2012 - 15:37 | 2898840 Harbanger
Harbanger's picture

28% is way too low, you need to pay your fair share, ask Obama.  Especially when everyone else has lost their fair share.  Who cares  that you already paid taxes on that money.  Capital gains only affect the rich, and that would be you.

Wed, 10/17/2012 - 12:47 | 2898296 earnyermoney
earnyermoney's picture

Yep. What's Barry's cut of that 77 Million? bv

Wed, 10/17/2012 - 13:51 | 2898487 Urban Redneck
Urban Redneck's picture

5%, as he is only half the Mooslim mooch enabler Zardari is-

Wed, 10/17/2012 - 12:48 | 2898297 Hedgetard55
Hedgetard55's picture

As long as Choomboi's peeps got a fat cut of the swag and broke off a piece for B, I'm down with it.

Wed, 10/17/2012 - 12:49 | 2898299 Haager
Haager's picture

Best bet: Manipulate related stockcharts. Oh, wait...

Wed, 10/17/2012 - 12:49 | 2898300 Dr. Engali
Dr. Engali's picture

And Mitt missed this opportunity last night.

Wed, 10/17/2012 - 13:07 | 2898372 fuu
fuu's picture

Ummm he didn't miss it, he wasn't instructed to mention it.

Wed, 10/17/2012 - 12:50 | 2898306 fuu
fuu's picture


Wed, 10/17/2012 - 12:49 | 2898307 markar
markar's picture

They didn't even have the moxie to put the gov't loans in first position? The contempt for the taxpayer is beyond the pale.

Wed, 10/17/2012 - 14:04 | 2898537 DCFusor
DCFusor's picture

I believe some of the "slick" moves they made to put the governement into subordination on the debt were reported here just before they declared bankruptcy.  Or was it Seeking Alpha, don't remember, but it was obvious at the time.

This is what's so slick about high level crime - you do that bad thing years before, then by the time people recognize there's a crime, they forgot what it was that created it.


Wed, 10/17/2012 - 14:15 | 2898573 earnyermoney
earnyermoney's picture

Bruce covered this topic around the time of the BK.

Wed, 10/17/2012 - 17:13 | 2899318 LMAOLORI
LMAOLORI's picture



Why would they do that you are talking about obama's buddies there screw the taxpayers 

August 6, 2012 How the Obama Administration rewrote the Solyndra loan to put private investors ahead of taxpayers


Newly-released emails cast new light on the Obama Administration’s unconventional decision to rewrite the terms of the nearly half-billion Solyndra loan to favor a major campaign donor as the company careened towards bankruptcy.

Wed, 10/17/2012 - 12:50 | 2898308 the not so migh...
the not so mighty maximiza's picture

One big fat goose egg. 


RObammney 2012

Wed, 10/17/2012 - 12:51 | 2898313 resurger
resurger's picture

77 Mio is about right

Wed, 10/17/2012 - 12:59 | 2898316 Mercury
Mercury's picture

It would have been impolite and mean-spirited for Romney to have mentioned Solyndra or A123 Systems last night.

And he certainly shouldn't have grabbed this low-hanging fruit and pointed out the obvious differences between his track record with private equity and Obama's with...ahh.. "public equity".


Wed, 10/17/2012 - 12:53 | 2898318 yogibear
yogibear's picture

Hope and your change.

Wed, 10/17/2012 - 12:58 | 2898323 ToNYC
ToNYC's picture

The blind Bain trust holds the note in the Caymans and is double DIPing the bankruptcy. How would you know it's not?

Opaque makes the cake in the pirate's cove, you blow out the candles in the cave.

Wed, 10/17/2012 - 12:56 | 2898324 markar
markar's picture

OT but at least Chelsea is making an attempt to offset the shit her parents are spreading around the globe


I guess her nose is in the right place

Wed, 10/17/2012 - 12:57 | 2898332 monopoly
monopoly's picture

And no one gets indicted. Amerika!

Wed, 10/17/2012 - 12:58 | 2898334 MountainMan
Wed, 10/17/2012 - 12:59 | 2898339 pods
pods's picture

Corzined Bitches!


Wed, 10/17/2012 - 13:32 | 2898435 icanhasbailout
icanhasbailout's picture

aaaaaand it's gone!

Wed, 10/17/2012 - 12:59 | 2898343 Uncle Remus
Uncle Remus's picture

RICO, is that you?

Wed, 10/17/2012 - 12:59 | 2898346 insanelysane
insanelysane's picture

Can't wait for the 1 year anniversary of MFG implosion </crickets>

Wed, 10/17/2012 - 13:01 | 2898351 jomama
jomama's picture

I'm less worried about losing money on developing alternate energy than say, bailing out scumsucking banking entities or military slush funds. 

pennywise, pound foolish.

Wed, 10/17/2012 - 13:08 | 2898374 surf0766
surf0766's picture

The government should not be involved in developing alternate energy or bailing out scum. You seem to be picking one bad over another bad

Wed, 10/17/2012 - 13:32 | 2898434 Urban Roman
Urban Roman's picture

The government should not be subsidizing the oil or "financial" industries.

But there you go again!

Wed, 10/17/2012 - 13:33 | 2898436 surf0766
surf0766's picture


Wed, 10/17/2012 - 13:50 | 2898484 C4G3
C4G3's picture


Wed, 10/17/2012 - 13:38 | 2898449 jomama
jomama's picture

I agree with you in absolute terms.  but one could make the argument that at least with an alternative energy subsidy there is still a net gain in terms of technological progress, even if the investment doesn't provide an immediate return.  Additionally, since it will benefit the population as a whole in terms of alternate energy supply, I have much less of a problem with it than I do with endless banker bailouts. 

Wed, 10/17/2012 - 13:41 | 2898461 surf0766
surf0766's picture

I cannot stand the collective thinking shit

Wed, 10/17/2012 - 14:15 | 2898574 jomama
jomama's picture

whether you agree with it or not, the technology with continue to be researched and progressed with or without your support.  it's still not a net zero on the investment, much unlike the giveaways to the banks and the slush defense 'black holes'.

Wed, 10/17/2012 - 15:40 | 2898862 jomama
jomama's picture

you narrow-minded fucks can junk me all you want, it's the best you're going to do in lieu of a real argument.

Wed, 10/17/2012 - 13:13 | 2898389 gjp
gjp's picture

Hear, hear.  They've sunk what some 10s of billions into alternative energy?  Most of which, unlike Solyndra, there is a least something to show for it.

The banks are sucking down 10s of billions a week after untold trillions already.  In return for destroying the foundations of our society.  Let's stay focused on the real problem, the other shit will sort itself out if we ever deal with fucking multi-trillion pound elephant in our living room.

Wed, 10/17/2012 - 16:26 | 2899131 Dburn
Dburn's picture

Actually the banks projected a 40 Billion dollar a month loss ( the big 5 ) , so Bennie is printing that much up to buy the losses so you and I can pay heaps more for stuff at the grocery store and , hey, just about everything else we need to. It's funny how people just kinda thing that "they" , whoever that is, took care of that "mortgage thing" whatever that was/is. 


We got trillions of shit to clean up. 40 Billion a month may sound like a lot but we are gonna lose 5x a month that in the first major (admitted) dip we have after the elections. People are hanging on by their bloody finger tips or treading water at nose level. 


Solandra? Idealogically it makes people "feel the hate". Compared to the ongoing bank bailouts and sandbox adventures in Islam land ,  it's a fricking rounding error.

Learn to channel your rage by quantity of dollars. It's heart Healthy.  



Wed, 10/17/2012 - 13:06 | 2898363 FatAmerican
FatAmerican's picture

Gold/realestate =1980Bitchez!!
Buy buy buy!!!

Wed, 10/17/2012 - 13:06 | 2898365 Joe Davola
Joe Davola's picture

$0 - coulda been worse, we coulda been stuck paying the court costs.  (We're not paying the court costs, are we?)

Wed, 10/17/2012 - 13:39 | 2898454 Winston Churchill
Winston Churchill's picture


Wed, 10/17/2012 - 13:06 | 2898367 Perpetual Burn
Perpetual Burn's picture


Wed, 10/17/2012 - 13:10 | 2898370 venturen
venturen's picture

Just imagine where that $1.2 Billion went...I can tell you it was all lost. Think some creative accounting and large renumeration pakages allowed it to flow to connected players!


Wed, 10/17/2012 - 13:08 | 2898371 moonman
moonman's picture

Next time we lend money to one of these "green" companies we need to call it a student loan. Then bankruptcy does not mean shit.

Wed, 10/17/2012 - 13:10 | 2898376 Yen Cross
Yen Cross's picture

Where did that slimeball Brian Harrison disappear to? I wonder if he ran back over to Intel.

Wed, 10/17/2012 - 13:11 | 2898386 Honeywell
Honeywell's picture

Oh no we lost money in ONE company that was trying to reduce our dependence on OIL.  What the fuck is the big problem here with solyndra?  When you invest in new technologies you have to take risks on the companies trying to produce those new technologies.  Some of them go bust, too fucking bad, cry some more.  This money that was lost is chump change compared to what the banking system has taken from us, so why all the focus on it?  Oh, because someone wants Romney to be president.  Not saying I like Obama either, but seriously this is such a trivial thing to be complaining/arguing about. 

Wed, 10/17/2012 - 13:18 | 2898403 azzhatter
azzhatter's picture

I think it's more about the shitstain that put Solyndra together , Kaiser(?). He was hanging with Choomboy at the White Castle

Wed, 10/17/2012 - 13:21 | 2898404 hedgeless_horseman
hedgeless_horseman's picture



What the fuck is the big problem here with solyndra? When you invest in new technologies you [the taxpayers and those paid in USD] have to take risks

Ever heard of privatize the gains, and socialize the losses?

Wed, 10/17/2012 - 13:30 | 2898425 nmewn
nmewn's picture

"Oh no we lost money in ONE company..."

How many do you want me to reel off?

Theres LightSquared, Fisker, Solazyme, A123...just off the top of my head.


Ener1, Evergreen, Beacon Power...pant pant pant ;-)

Wed, 10/17/2012 - 13:16 | 2898394 docj
docj's picture


Wed, 10/17/2012 - 13:19 | 2898407 Bawneee Fwank
Bawneee Fwank's picture

Oh hello, you say your with the IRS, you say your looking for my tax return...Fuck You, go talk to all the fucking green bullshit companies that were given money...that is where my tax return is MF'er.

Wed, 10/17/2012 - 13:19 | 2898408 tahoebumsmith
tahoebumsmith's picture

It's pretty easy to understand if you follow the money trail. Just like every other collapse the trail always leads back to the cephalopod ...

"Goldman Sachs Group Inc. which Solyndra hired in 2008, helped propel the solar panel maker from Silicon Valley start-up to White House showcase. It solicited investors for the company with rosy valuation projections and helped Solyndra win a $535 million Department of Energy loan guarantee. And it positioned itself to earn underwriting fees if the company held an initial public offering."

Wed, 10/17/2012 - 13:24 | 2898415 blu
blu's picture

I wish the US government had never invested in that whole "internet" thing, what a waste of money, they just basically gave it away in the end.

Wed, 10/17/2012 - 13:32 | 2898433 q99x2
q99x2's picture

They are funding Nuclear Power Plants built by TEPCO instead.

Wed, 10/17/2012 - 13:37 | 2898444 Urban Roman
Urban Roman's picture

... Plants built by GE ...


Wed, 10/17/2012 - 13:33 | 2898437 Insideher Trading
Insideher Trading's picture

A for effort.

Wed, 10/17/2012 - 13:36 | 2898445 ziggy59
ziggy59's picture

In this financial world, thats a plus, right?

Wed, 10/17/2012 - 13:39 | 2898456 JPM Hater001
JPM Hater001's picture

Again, this is my surprised face-


- -


Wed, 10/17/2012 - 13:42 | 2898464 surf0766
surf0766's picture

Yo can I get a shout out to B-cups?

Wed, 10/17/2012 - 13:48 | 2898476 americanspirit
americanspirit's picture

When you look over the list of entities that will recover from the bankruptcy you'll note a few of Chinese 'investors' right up there at the top of the list. So they get their investment back, which they financed with USTs anyway, and they get any technology that's worth a shit. I'm thinking treason on the part of some to-be-unnamed high government officials.

Wed, 10/17/2012 - 13:49 | 2898481 Zap Powerz
Zap Powerz's picture

This cuntry is pathetic.

Wed, 10/17/2012 - 13:52 | 2898488 The Gooch
The Gooch's picture

Company I used to work for went to the Solyndra auction and bought a whole shitload

of equipment- all top of the line. 

I told the boss he was paying for it twice. 

Wed, 10/17/2012 - 14:12 | 2898527 foodstampbarry
foodstampbarry's picture

No worries, I'm sure The Supreme Charismatic will go on "The View" to clear things up. The Supreme Charismatic could dance live with Whoopi and Behar! Wow! Wouldn't that be somethin!


Wed, 10/17/2012 - 14:18 | 2898581 Piranhanoia
Piranhanoia's picture

peanuts compared to the F22 no one wants except the contract holder.  Nothing compared to a war in Irak where 1000 times this was lost. 1000x left sitting because it was too expensive to bring back, and 1000 times this was spent on bombs and shit that was totally wasted.

  priorities anyone?

Wed, 10/17/2012 - 14:23 | 2898592 loveyajimbo
loveyajimbo's picture

That demented asslick Biden says the green energy fails amount to only 4%... I have never heard of any winners... and methane from Moochelle's big ass does not count!  Did Biden's hair really come from the ass of an elderly Yak?

Wed, 10/17/2012 - 15:03 | 2898701 assumptionblindness
assumptionblindness's picture

I think that you meant to say 'sodomized'

Wed, 10/17/2012 - 15:12 | 2898731 siliconvalleyboy
siliconvalleyboy's picture

This is the only thing that he can think about.

How much did the country lose in the Bank bailout?

How much has the country lost in the two wars, one of which is still going on?

How much have we lost by subsidizing the big oil companies?.

Atleast the country is trying to get a new wave of technology going. Not sitting on its ass and letting other countries eat our lunch. Mitt does not care because he and other very wealthy guys are invested externally. America owns the internet, networking, aerospace technology, computer industry because the govt funded and supported these for a long time. we just saved the auto industry and it will have another chance to employ people and produce products that people want. There is a salary discontinuity that America needs to manage while wages move up in other parts of the globe. right now the outsourcing of high tech jobs to india is reaching a tipping point because the costs have moved up so high over there and we can get the work done more efficiently here without the additional overhead and costs.

Wed, 10/17/2012 - 16:14 | 2899080 Dburn
Dburn's picture

Vendors are getting 90% ? Note to self; always sell to govt financed schlock operations at 120% of the normal price. 

Got any others there on the list that haven't filed yet? I have my UCC filings ready to go.  


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