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"Obama wants a government bank to fund more Solyndras"

Of course he does. Funding for good intentions is noble. And the Democrats lay claim to the best of intentions. It follows, therefore, that funding for Democrats and their policy ideals is noble and should be institutionalized.

There. A short history of the US, from the early 20th-century forward.

You’re welcome.

26 Replies to “"Obama wants a government bank to fund more Solyndras"”

sdferr says:

October 14, 2011 at 11:08 am

Wait, I thought banks were on the outs?
LTC John says:

October 14, 2011 at 11:11 am

sdferr – private banks are. Oh, and especially JOOOOOO banks. “Good” banks? Government banks.
JD says:

October 14, 2011 at 11:13 am

That sounds like a fucking great idea. Let’s let the government fund objectively horrible business models by creating a government bank using an objectively horrible business model. What could go wrong?
Squid says:

October 14, 2011 at 11:53 am

Will this new bank be too big to fail?
donald says:

October 14, 2011 at 12:05 pm

Slightly o/t, but you just know the Mike Lupica has blown some down on his luck victim for a jackson at Grand Central in his time.
Mikey NTH says:

October 14, 2011 at 12:07 pm

Government banks are good. They don’t make loans using depressing criteria such as “business plans”, “cash flow”, and “ability to repay”. Government banks use important, valuable criteria such as “fairness”, “social justice”, “investing in the future” and so forth.

Why such a government bank would finally allow us to finance that Bridge to the 21st Century we’ve long needed!
Jim in KC says:

October 14, 2011 at 12:20 pm

It’s a little late for a bridge to the 21st century, ain’t it?
donald says:

October 14, 2011 at 12:20 pm

Whoops, make that “that mike Lupica has blown some down on his luck victim for a jackson at grand central in his time” though I’d like to edit that Jackson for a Lincoln be cause I read that he is a Michael Jordan/Scotti Pippin/Madonna/Howie Mandela level tipper.
Mikey NTH says:

October 14, 2011 at 12:23 pm

Jim in KC:

It was a shovel ready project. You know how those go.
Jim in KC says:

October 14, 2011 at 12:34 pm

Leading from behind, MikeyNTH, leading from behind…
mojo says:

October 14, 2011 at 1:20 pm

And we all know what’s paved with good intentions…
the wolf says:

October 14, 2011 at 1:40 pm

And if Democratic politicians can collect a few hundred thou in campaign contributions, then kick back a few hundred million from the taxpayers, everyone wins!
LTC John says:

October 14, 2011 at 1:44 pm

#11 – Recovery Act funded roads?
newrouter says:

October 14, 2011 at 2:29 pm

barackycare self destructs

WASHINGTON — The Obama administration says it is unable to go forward with a major program in the president’s signature health care overhaul law — a new long-term care insurance plan.

Officials said Friday the long-term care program has critical design flaws that can’t be fixed to make it financially self-sustaining.

Health and Human Services Secretary Kathleen Sebelius told Congress in a letter that she does not see a viable path forward at this time. By law, implementation of the program was contingent on Sebelius certifying it financially sound.

The program was supposed to be a voluntary insurance plan for working adults regardless of age or health. Workers would pay an affordable monthly premium during their careers, and could collect a modest daily cash benefit if they became disabled later in life.

The problem all along has been how to ensure enough healthy people would sign up.

Link
sdferr says:

October 14, 2011 at 2:33 pm

“Is”-is-ing an awesome interpretive Solyndra adventure in lending:

But that’s not the conclusion that Susan Richardson, chief counsel of the DOE loans program office, came to in January 2011, about a month before the restructuring agreement was finalized. She argued that the “condition” of subordination was “applicable only as a condition precedent to the issuance of a loan guarantee. It is not a continuing obligation or restriction…” This interpretation of the law, she wrote, “is reinforced by the use of the word ‘is,’ which we view as confirming that the condition be satisfied at a single point in time.” Or in other words, the statue only applies to the initial loan agreement, and therefore can be readily tossed aside in subsequent restructuring agreements.
poppa india says:

October 14, 2011 at 3:10 pm

The meaning of “is” again? Didn’t we already do this?
Ernst Schreiber says:

October 14, 2011 at 3:20 pm

one car company
one bank
One People
one television network
one radio network
One State
one Power company
one Telecomm provider
One Leader!
SteveG says:

October 14, 2011 at 4:04 pm

here is what happens when you lead from behind..

http://abcnews.go.com/Blotter/missing-libya-missiles-find-gaza-border/story?id=14729363

Remember when a bunch of AK-47s went missing in Iraq and Bush got crucified… now 20,000 portable anti aircraft missiles
get stolen and some find their way to Gaza? Not Obama’s fault…
Idiots
One idiot leader.
He’s a puppet that reads and speaks well.
Danger says:

October 14, 2011 at 6:23 pm

“Obama wants a government bank to fund more Solyndras”

WTFO, he already has the Federal Reserve!
newrouter says:

October 14, 2011 at 6:31 pm

On Solyndra: President’s Blackberry Off Limits
Posted by
CNN Chief White House Correspondent Jessica Yellin

Washington (CNN) – Congress isn’t getting a glimpse of what’s on President Barack Obama’s Blackberry – or any more internal White House communications related to the bankrupt solar company Solyndra, which received a $535 million loan guarantee from the federal government.

Link
sdferr says:

October 15, 2011 at 8:18 am

OT: though related in addressing the scope of Government’s power to meddle in the market economy: Prof. Randy Barnett looks closely at Wickard v. Filburn.
sdferr says:

October 15, 2011 at 8:52 am

Bank-shot:

President Obama glowingly defended the $85 billion auto industry bailout during a speech to Detroit auto workers Friday, saying “the investment was worth it.”

But the government still owns 500 million shares of General Motors which, if sold at today’s market price of $20 a share, would leave taxpayers on the hook for $16.5 billion in losses.
newrouter says:

October 15, 2011 at 9:11 am

I guess Obama doesn’t know that the Transcontinental Railroad was a Solyndra-like Big Government scandal. The railroad didn’t make economic sense at the time, so the government subsidized construction and gave the companies huge quantities of the best land on the continent.

As we should expect, without market discipline — profit and loss — contractors ripped off the taxpayers. After all, if you get paid by the amount of track you lay, you’ll lay more track than necessary.

Credit Mobilier, the first rail construction company, made enormous profits by overcharging for its work. To keep the subsidies flowing, it made big contributions to congressmen.

Where have we heard that recently?

The transcontinental railroad lost tons of money. The government never covered its costs, and most rail lines that used the tracks went bankrupt or continued to be subsidized by taxpayers.

The Union Pacific and Northern Pacific — all those rail lines we learned about in history class — milked the taxpayer and then went broke.

One line worked. The Great Northern never went bankrupt. It was the railroad that got no subsidies.

Link
sdferr says:

October 15, 2011 at 9:18 am

Progressivism in the United States itself was brought in to counter the crony-capitalism of railroad barons and politicians, wasn’t it? At least in part.
McGehee says:

October 15, 2011 at 10:20 am

23. newrouter posted on 10/15 @ 9:11 am

That’s probably why he prefers to talk about the Intercontinental Railroad instead.
cranky-d says:

October 15, 2011 at 12:35 pm

Pointing out Obama’s gaffs is racist.