Ex-Energy Secretary Praises Solyndra-Style Loans: 'More Successful Than Wall Street'

Weekly Standard ^ | 6/10/13 | DANIEL HALPER

[Nachum]

Ex-energy secretary Steven Chu is still praising Solyndra-style loans. He did it most recently in an interview with San Francisco Chronicle.

The paper asks, "When you look back, is there anything you'd do differently about Solyndra?"

Chu responds:

We were evolving. Solyndra was the first loan, the one where the career people who started with the Bush administration said, "This looks like an exciting technology." The Wall Street Journal said it was one of the top 25 companies to watch. And then prices started to crash. And as we got more sophisticated in the loans, from 2009 to 2010, we started to put in measures where, OK, you're not going to disburse the whole thing. And then you have to have a very tough attitude.

Now, if you pull the plug on a loan somewhere in the middle of a startup company, the chances are they might just go into bankruptcy. But on the other hand, if the probability is high that they're going into bankruptcy, you don't throw good money after bad.

[Amagi]

Really makes you wonder how much of the tax payer funded loan money for the failed Solyndra scam got kicked back to this Chu Clown.

[stylin19a]

Pres. Bush’s admininstration, started, then stopped the Solyndra loan gurantee. They actual looked at the financials and pulled back right before Obama took the oath.

Obama’s people fast-tracked it,( approx. 28 days for a conditional loan gurantee) ignoring the previous admin’s warnings.

[TexasCajun]

...and the GM bailout was a hugh & series success!

(at 10 Billion Dollar loss!)

[lucky american]

Can’t read anything these days when the first three word are “ It’s Bush’s fault”