Posted on 10/06/2011 2:13:58 PM PDT by jazusamo
The director of the controversial loan program that cleared the way for a $535 million taxpayer guarantee to bankrupt solar firm Solyndra is stepping down, the Energy Department confirmed Thursday.
Jonathan Silver, head of the Loan Programs Office, plans to join the organization Third Way as a "distinguished visiting fellow." The career change comes in the middle of heavy scrutiny from Congress over the department's handling of the Solyndra agreement. Documents that have emerged over the past month show officials were warned about potential problems with the company as it sought government help.
But the president on Thursday defended the Energy Department's vetting. And Energy Secretary Steven Chu said in a statement that Silver's departure was expected.
Chu said Silver told him in July that he planned to return to the private sector soon after Sept. 30, when the loan program expired.
"Since he joined the Department in November 2009, Jonathan assembled and managed a truly outstanding team that has transformed the program into the world leader in financing innovative clean energy projects. Under his leadership, the loan program has demonstrated considerable success, with a broad portfolio of investments that will help American companies compete in the global clean energy market," Chu said. "Because of my absolute confidence in Jonathan and the outstanding work he has done, I would welcome his continued service at the Department, but I completely understand the decision he has made."
Solyndra, which later went bankrupt and is now under multiple investigations, ended up being lent $528 million in taxpayer money.
But defending the program, Obama said Thursday that lending by nature is inherently risky. At a wide ranging news conference, Obama said his administration knew that some companies participating in the loan guarantee program started under the Bush administration would fail.
(Excerpt) Read more at foxnews.com ...
Nobody was murdered at Solyndra.
But the MSM would rather talk about it than Fast and Furious.
It’s the safe scandal.
Waiting to see the long, complete list of people Obama has thrown under the bus.
Fast and furious is a million times worse than Watergate....hell, political espionage goes on all the time.
Exactly! But Fast and Furious isn’t going away.
Since he joined the Department in November 2009, Jonathan assembled and managed a truly outstanding team that has transformed the program into the world leader in financing innovative clean energy projects. Under his leadership, the loan program has demonstrated considerable success, with a broad portfolio of investments that will help American companies compete in the global clean energy market,”
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Yeah that sounds great, but all he actually did was paas out money.
OUR FRIGGIN MONEY.
Yeah ,he has a broad portfolio of companies he passed money out to, but how many are going to pay dividends.
You knopw Dividends. Thats when money comes back—with interest.
This is no longer acceptable. We can’t just allow an endless stream of criminals to defraud the American taxpayer then just walk away and resign.
The “Third Way” must be a political philosophy to scam money from both the right and left.
Chu needs to go also. >>>>>>>
He might as well be a XChiCom agent (saboteur) for the damage he does to America. He does visit communist China, I would like to know how often
Yes, lending is inherently risky. That's why it should be done by people who at least know how to read, understand and analyze a freaking business plan.
And Obama's continued insistence that somehow the Bush administration blessed this deal is a despicable, demonstrable lie. What a smarmy POS our president is.
bet he gets a lucretive job at “green energy” company or association or lobbing for DOE loans
I) National Security: Third Way is helping to design an alternative vision to that of the neoconservatives. This includes examinations of our military structures, strategic alliances, and energy policy, among other areas.
2) The Economic/Social Compact: Third Way is working to modernize the progressive approach to issues that impact American families, in areas like the economy, the tax code, retirement security, health care costs, education, etc.
3) Cultural Issues: Third Way is launching initiatives to help progressives reconnect with the mainstream of America on cultural issues while retaining progressive values."
They're going from a communist administration to..... a communist organization.
I hope they can still be called to testify (especially since they refer to themselves as a 501c non- partisan, tax exempt organization!).
Amen! You put that as well or better than I've seen it put.
It doesn't matter the subject or what Obama is involved in he always seems to do what is not best for the country. Many say it's intentional and it may be but if it isn't the guy is an inept idiot.
No doubt you're right. Thanks for listing those.
Ping to #12.
Sorry....Ping to #15. shaking head
Good thing Obama has 20” dubs on his bus because there needs to be a hell of a lot of room under there.
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