Ace of Spades HQ

January 13, 2012

Solyndra Nation: $6.5 Billion of Your Money Now In "Risky" Energy Companies
— Ace

By the way, this is Sharryl Atkinson reporting, the only reporter on the Fast and Furious case in the whole MSM.

So here she is again. Reporting another good story which CBS only puts on its website, and will never mention in its main operation of televised news. (Correction: She did get on the early show to do a broadcast segment on this; the video is right in the link.)

Anyway.

CBS News counted 12 clean energy companies that are having trouble after collectively being approved for more than $6.5 billion in federal assistance. Five have filed for bankruptcy: The junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES' subsidiary Eastern Energy and Solyndra.
Others are also struggling with potential problems.

I can't quote the whole thing. But here's a sum-up:

Economist Morici says even somebody as smart as Secretary Chu -- an award-winning scientist -- shouldn't be playing "venture capitalist" with tax dollars. "Tasking a Nobel Prize mathematician to make investments for the U.S. government is like asking the manager of the New York Yankees to be general in charge of America's troops in Afghanistan," Morici said. "It's that absurd."

Read the whole thing. It's short.

Vulture Socialism

Selling Magic Beans to a nation in desperate need for real solutions, and promising them that one day those Magic Beans will sprout mighty stalks.

Oh, and if you're worried that you're losing money on this exchange: Don't worry, Obama's cronies are doin' just swell.

Again, via @williamamos

Posted by: Ace at 11:49 AM | Comments (46)
Post contains 269 words, total size 2 kb.

1 no worries!!!!

Posted by: phoenixgirl....all in for perry at January 13, 2012 11:50 AM (Ho2rs)

2 But we be doin' it for the chirren!

Posted by: Hrothgar at January 13, 2012 11:51 AM (i3+c5)

3 I want people in prison before this is over.

Posted by: toby928© Perrykrishna with tattooed knuckles at January 13, 2012 11:51 AM (GTbGH)

4 I CAN'T DO THIS TO ME!

Posted by: Al Gore, Nobel Laureate at January 13, 2012 11:51 AM (w41GQ)

5 There's absolutely nothing to worry about. Steven Chu has a Nobel Prize.

Posted by: al-Cicero, Tea Party Jihadist at January 13, 2012 11:52 AM (QKKT0)

6 Only 6.5 Billion? That doesn't even rate an asterisk in the budget now.

Posted by: RioBravo at January 13, 2012 11:52 AM (eEfYn)

7 Only $6.5B? There's gotta be more we don't know about.

Posted by: HeatherRadish at January 13, 2012 11:52 AM (ZKzrr)

8 Vulture Socialism How DARE you! Oh wait you were talking about the other...Liberal. disregard.

Posted by: Jen Rubin at January 13, 2012 11:53 AM (r2PLg)

Vulture Socialism

Selling Magic Beans to a nation in desperate need for real solutions, and promising them that one day those Magic Beans will sprout mighty stalks.

Is it bad form to declare the post the threadwinner?

Posted by: DarkLord©, Rogue Commenter at January 13, 2012 11:53 AM (GBXon)

10 Fucking Romney!!!!!!!

Posted by: Truman North at January 13, 2012 11:53 AM (I2LwF)

11 Those aren't stalks, they're shafts. And the chicken knows what's next.

Posted by: Mikey NTH at January 13, 2012 11:53 AM (hLRSq)

12
meanwhile at the next debate...

contraception.

Posted by: Soothsayer at January 13, 2012 11:54 AM (G/zuv)

13 You can't possibly trust the public to make decisions as to what kind of vehicle they find useful/usable/safe. That is why a nanny state is so necessary. Also, the R&D establishment can't direct taxpayer dollars to their cronies in the free market system.

Posted by: Hrothgar at January 13, 2012 11:54 AM (i3+c5)

Maybe this lady will be hired by a genuine news organisation.

Posted by: The Jackhole at January 13, 2012 11:54 AM (nTgAI)

15 You better not be talking about RomneyCare!!!! I'm going to send Michelle Malkin out to wax your walnuts!!!1!!!

Posted by: Jen Rubin at January 13, 2012 11:55 AM (r2PLg)

16 Barack Obama is a stuttering clusterf*ck of a miserable tyrant.

Posted by: AllenG (Dedicated Tenther) says 'No' to RINO Romney at January 13, 2012 11:56 AM (8y9MW)

17 Cbs did have a Atkinson on their early show this am reporting this. Surprisingly very near the top of the broadcast

Posted by: Sean at January 13, 2012 11:56 AM (nA60u)

18
This post coulda also been titled:

S H A R E D S A C R I F I C E
By The Way, I Need Another Trillion Dollars

Posted by: Soothsayer at January 13, 2012 11:56 AM (G/zuv)

Hmmm... Wish I knew how to get my hands on some of those sweet "green" greenbacks. I'd be happy with just a few hundred K diverted into my pocket. I'd have enough to head off to the islands and retire from all this bullsh*t.

Posted by: Reactionary at January 13, 2012 11:57 AM (xUM1Q)

20 14

Maybe this lady will be hired by a genuine news organisation.

Posted by: The Jackhole at January 13, 2012 03:54 PM (nTgAI)

/looks around...

Who?

Posted by: Diogenese, looking for a Real News Organization at January 13, 2012 11:57 AM (NtXW4)

21 Did someone say mighty stalks?

Posted by: Bwarney at January 13, 2012 11:57 AM (N2yhW)

22
holy shit, noodles already!

Posted by: Soothsayer at January 13, 2012 11:58 AM (G/zuv)

23 $6.5 bn is more than our idiot House leaders were able to "save" for us during the budget debates discussions surrender.

I think AoS should form a proposal team and get in on some of this green action.

Posted by: Hrothgar at January 13, 2012 11:58 AM (i3+c5)

24 Nice to know there are some journalist out there like Attkisson who still do their jobs

Posted by: William Amos at January 13, 2012 11:58 AM (CrreU)

Vulture Socialism

Selling Magic Beans to a nation in desperate need for real solutions, and promising them that one day those Magic Beans will sprout mighty stalks.

Ha ha! But I'm pretty sure that is racist.

Posted by: WalrusRex at January 13, 2012 11:58 AM (Hx5uv)

26 So, the other day I had the opportunity to be part of a press event for Ford Motor. In that event, Ford trotted out four different versions of the Fusion, three of them being "green." Ford reiterated their commitment to "green" technology.

The next day, I saw an article on the fact that customers don't want "green" "alternative energy" vehicles and are not buying them.

I see "alternative energy" as a huge scam that is being foisted on every part of our lives. Why? I don't know. But it is a scam IMHO.

/adjusting tinfoil hat, waiting for DHS to come to my house.

Posted by: shibumi at January 13, 2012 11:58 AM (z63Tr)

27 meanwhile at the next debate...

contraception.

I would really love for this exchange to happen:

Moderator: "[Candidate X]: Where do you stand on contraception?"
[Candidate X]: "Why the F are we talking about contraception? Don't you think we have bigger fish to fry- like a corrupt administration which sold weapons to murderous Mexican drug cartels? Or the corrupt administration which hushed-up potentially deadly problems with the car they designed? How about the corrupt administration which poured billions of dollars into "green companies" which all went belly-up? Contraception? That's your big issue?"

Posted by: AllenG (Dedicated Tenther) says 'No' to RINO Romney at January 13, 2012 11:59 AM (8y9MW)

28 Posted by: shibumi at January 13, 2012 03:58 PM (z63Tr)

"Your debutante just knows what you needÂ…But I know what you want.Â”

Posted by: Bob D at January 13, 2012 12:01 PM (i3+c5)

29 $6.5 billion. Now let's compare that to what management whiz Obama's faux-reorg plan is projected to save: "up to" $3 billion. Over 10 years.

Posted by: Waterhouse at January 13, 2012 12:02 PM (q8xaf)

Suspension of Belief - Def: susÂ·penÂ·sion of be-lief /səˈspenSHən əv be-liēf

A formula for justifying the use of fantastic or non-realistic elements

Example:

The ability to believe that any of the pukes running for the GOP nomination are substantially different than the current pukes running the current administration

Posted by: minuteman (formerly trainer) until Juggy is gone at January 13, 2012 12:02 PM (Rojyk)

31 I see "alternative energy" as a huge scam that is being foisted on every part of our lives. Why? I don't know. But it is a scam IMHO.

/adjusting tinfoil hat, waiting for DHS to come to my house.
Posted by: shibumi at January 13, 2012 03:58 PM (z63Tr)

Of course it is a huge scam and a money laundering operation. Any Engineer can tell you that the science just isn't there. The inefficiencies are too big when compared to fossil fuels. A modern-day gasoline engine is approaching 99% efficiency. There are not many (if any at all) fuel sources that get such high efficiency.
Fossil Fuels are a gift from God. It's a little difficult to compete with The Man.

Posted by: Not an Artist at January 13, 2012 12:06 PM (YUwuZ)

32 MFM is actually doing a story on liberal bullshit. Was that a pig that just flew by my window?

Posted by: TheQuietMan at January 13, 2012 12:11 PM (1Jaio)

33 And this is why I'll hold my nose and vote for Romney ...

Vote Romney - Like McCain but with less old man smell! (TM)

Posted by: IrishSamurai at January 13, 2012 12:12 PM (ZW9en)

34 Any Engineer can tell you that the science just isn't there.

But the engineers working for companies getting sweet sweet gubbament cash to investigate/implement is won't.

Posted by: HeatherRadish at January 13, 2012 12:25 PM (ZKzrr)

35 6.5 Billion is more than the infrastructure 'shovel-ready' rods and stuff I think. Or was that 6% was to infrastructure?

Posted by: Schwalbe: The Me-262© at January 13, 2012 12:25 PM (UU0OF)

36 ha ha ha #33. Can I use that if I use the @TM mark?

Posted by: tonynoboloney at January 13, 2012 12:43 PM (a/ZVT)

37 click the link. I am sure if she gets a lot of hits they will pay more attention to her stories... After you click the link, click on ad, too, maybe something you are actually interested in. This is a way CBS news can be informed that we like these stories.

Posted by: sexypig at January 13, 2012 12:52 PM (wWV5q)

AllenG @ 27: +10000

Posted by: BUTCH at January 13, 2012 12:55 PM (0APJ3)

39 3 I want people in prison before this is over.
----- After too

Posted by: buzzsaw90 at January 13, 2012 01:00 PM (SO2Q8)

40 "Tasking a Nobel Prize mathematician to make investments for the U.S. government is like asking the manager of the New York Yankees to be general in charge of America's troops in Afghanistan," Morici said. "It's that absurd."

So is electing an affirmative-actioned community organizer to POTUS, yet here we are... The United State of Absurdity.

Posted by: AnonymousDrivel at January 13, 2012 01:21 PM (eHIJJ)

41 Soothsayer: "meanwhile at the next debate... contraception."

Oooh. Good one. Let me write that down.

Posted by: George Stephenopolous at January 13, 2012 01:23 PM (eHIJJ)

42 AllenG@27,

Yep. That's right in Gingrich's wheelhouse. I wonder if he'll swing?

Seriously, these candidates need to hijack the debates before interest in them disappears completely.

Posted by: AnonymousDrivel at January 13, 2012 01:26 PM (eHIJJ)

43
Frankly, I feel that the Yankee's skipper* is better qualified to manage the war in Afghanistan than Steven Chu is with "venture science".

* many of them

Posted by: I R A Darth Aggie © at January 13, 2012 02:24 PM (1hM1d)

44 Now I know why the DOD had to be cut. How else would we pay for these energy failing energy companies.

Posted by: midnight clad at January 13, 2012 02:24 PM (ldumo)

45 Just think, we are only one journalist firing (Sharryl Atkinson) away from having zero coverage of the BHO administration's hijinks on the national networks.

Hannity was right. Journalism died in 2008.

Rush is right. It is a State-run Media.

Posted by: Great Reagan's Ghost at January 13, 2012 03:17 PM (bohBF)

46 "[Chu] shouldn't be playing "venture capitalist" with tax dollars."

Guy misses the point: NOBODY should play VC with tax dollars.

Nobody. Constitution doesn't allow that, and anyone who proposes it is a traitor and should be hanged at noon.

Kidding about that last. Sorta.

Posted by: sf at January 13, 2012 04:25 PM (bJsQe)

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