Related Article: Exclusive Timeline: Bush Administration Advanced Solyndra Loan Guarantee for Two Years, Media Blow the Story
Here is another example of gross inefficiency (money wasted by putting it into a project that was known to fail - a level of economic/financial inefficiency that really is impressive that I would never expect a Democrat to do & if it wasn't for their sheer cowardice Obama would probably have nixed this project cause it makes no sense... but, my theory is, it was Bush's baby so he let this through and the media dropped the story -obviously);
Daily Show: That Custom-Tailored Obama Scandal You Ordered Is Finally Here - Solyndra's failure doesn't discredit the entire idea of a green energy economy, but some might take it as a sign of the Obama administration's incompetence. (8:10):
The following is an extract from a news report about the same inefficiency in the video above:
Energy-related loan guarantees arose from the stimulus legislation of 2009. Policy makers thought a huge infusion of low-cost loans would create many thousands of jobs at solar- panel factories, alternative-energy power plants and the like. There was an implicit assumption that most of these ventures would succeed. Barring fraud, Solyndra’s failure reflects the company’s bet on an inadequate technology. Its tubes, coated with an unusual four-metal compound, were supposed to cut power costs more than 20 percent. That wasn’t nearly enough. Production costs fell much faster for a rival technology, conventional flat silicon panels, and Solyndra couldn’t compete.
Daily Show: Weather Blunderground - Barack Obama wants to create a green economy by weatherizing American homes. (5:19):