Solyndra Update I have asked before about the subjugation of the half-billion owed the govt by Solyndra. Here’s an explanation. The law is: govt first, investors last; but when Solyndra borrowed an additional $75 bil from the govt, they included a clause to make the owners first and the govt last to collect in case of a bankruptcy Obama’s bundler explained the law only applies to the first loan, and not the 2nd. Huh? I can see it now. Solyndra CEO goes to White House. Dear Mr President, we owe the govt $450 bil. The govt is in line first to be paid if the corp defaults, but if you loan us another $75 bil, we will let you go last. What a deal.
Isn't that just a wee bit farfretched? Everything for the risk takers swapped for nothng for the govt? Doesn't that reak asfraud, i.e., since the word was out that they had a bad business model and wouldn't last past September? Even Attny Genl Eric Holder isn't stupid enough to believe that. The only way they are going to get away with this is if the case is heard by the same bankruptcy judge(s) that decided to give the UAW part ownership of GM and Chrysler that should have gone to the collateral bond holders. One last question. What percentage of Solyndra’s sales were to govt entities. Just wondering. Rich Martin House GOP plays Solyndra for all it's worth http://www.politico.com/news/stories/0911/63888.html#ixzz1YwKgL1gC Solyndra, Barack Obama, and Crony Capitalism: Picking a Loser to be a Winner http://www.redstate.com/erick/2011/09/14/solyndra-barack-obama-and-crony-capitalism-picking-a-loser-to-be-a-winner/ According to arch-liberal Mass Congressman Marky, the govt subjugates it’s loan rights all the time in the nuclear engergy industry. http://www.huffingtonpost.com/2011/09/23/for-insight-on-solyndra-l_n_978188.html No Joke: Obama/Soros Promote “Open Government” http://www.aim.org/aim-column/no-joke-obamasoros-promote-%E2%80%9Copen-government%E2%80%9D/ “Governments are instituted among Men, deriving their just powers from the consent of the governed, -- That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it…” Declaration of Independence , 1776 – today. We the People http://www.youtube.com/watch?v=JVAhr4hZDJE -- To join RichsRants, send email to: [email protected] For more options, visit this group at http://groups.google.com/group/richsrants?hl=en
