January 2009: In an effort to show it has done something to support renewable energy, the Bush Administration tries to take Solyndra before a DOE credit review committee before President Obama is inaugurated. The committee, consisting of career civil servants with financial expertise, remands the loan back to DOE â€œwithout prejudiceâ€ because it wasnâ€™t ready for conditional commitment.
March 2009: The same credit committee approves the strengthened loan application. The deal passes on to DOEâ€™s credit review board. Career staff (not political appointees) within the DOE issue a conditional commitment setting out terms for a guarantee.
What critics fail to mention is that the Solyndra deal is more than three years old, started under the Bush Administration, which tried to conditionally approve the loan right before Obama took office. Rather than â€œpushing funds out the door too quickly,â€ the Obama Administration restructured the original loan when it came into office to further protect the taxpayersâ€™ investment.
How was Solyndra Bush's project? It wasn't! Solyndra's application for a government loan was rejected under the Bush administration and was revived as one of the first orders of business under the Obama administration. Anyone with 5 minutes, an internet connection and a reasonable level of intelligence can look these things up.
"Don't say that it's not his fault."
Why, yes, I can say it's not his fault. I guess he could have bailed on your beloved wars and tax cuts, and repealed Medicare Part D, but didn't. You would have been the first to scream. And yes, the stimulus did work, and would have worked better if half of it hadn't been in useless tax cuts trying to get one republican vote (in vain). Solyndra, Bush's pet project, got a half a billion, a far cry from a trillion. Does Rush know you're playing hookey here?