Thursday, May 31, 2012

Solyndra: explained? (UPDATED)


(please scroll down for update)

So many different directions to go with but suffice to say that explaining how private equity's private dollars are utilized versus how $535 million public/tax-payer dollars and over one-thousand jobs are flushed down the toilet of crony capitalist wastefulness is a tough sell to a White House press corps that finally appears to be taking an interest in this scrap that Team O wants to fight.

(warning: we may have outlawed waterboarding but this is still going to be a torturous 51 seconds for White House press secretary, Jay Carney)

uhh... what we think he is trying to say is that even when picking winners and losers loses, the President is obliglated to spend even more money to re-train, re-locate or otherwise prop up the lives and careers of people in which he had no business in the first place. Being a paternalistic big brother is a full-time gig, people. Just ask Julia.

We do feel bad for Carney, however. Explaining away the failures of corporatism and crony capitalism is never an easy gig, especially when it's not you but your boss that's responsible. Maybe we can help out Carney and find his boss a new gig on K Street or the rubber chicken circuit come November to put an end to this crap.


Maybe this guy can explain it:


Mitt Romney arrived at the shuttered headquarters of Solyndra Inc. this morning, a surprise visit that was shrouded in secrecy and part of the presumptive GOP presidential candidate’s attack on President Obama’s record on jobs creation.

“Two years ago President Obama was here to tout this building and this business as a symbol of the success of his stimulus,” said Romney, stepping off a bus and onto the public sidewalk in front of the Solyndra buildings just outside Silicon Valley. “Well you can see that it’s a symbol of something very different today.”

“It’s a symbol not of success but of failure,” he said. “It’s also a symbol of a serious conflict of interest. An independent inspector general looked at this investment and concluded that the administration had steered money to friends and family – to campaign contributors. This building, this half a billion dollar taxpayer investment, represents a serious conflict of interest on the part of the president and his team.”

“It’s also a symbol of how the president thinks about free enterprise,” said Romney. “Free enterprise to the president means taking money from the taxpayers and giving it freely to his friends.”

Hitting Obama for failing to understand and respect free enterprise? Check.

Hitting Obama for not job creation but rather job destruction? Check.

Hitting Obama for cronyism. Check.

This was Romney's first campaign event since he clinched the GOP nomination and Solyndra provided the perfect backdrop in which to highlight the failings of the Obama administration.

Exit question: For you O-bots out there that decried the corporatism of the Bush administration: How do you square the circle of the current administration that has turned corporatism into an art form?

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