Azazello1313 Posted September 28, 2011 Share Posted September 28, 2011 The taxpayers were expected to fund by far the largest share of the bills and also of the risk and in return they weren’t getting many benefits in terms of reduced pollution. In contrast, Caithness Energy and GE Energy Financial Services, the corporations behind the project, weren’t taking much risk but they stood to profit handsomely. I guess that is why they call it “green” energy. In short, the Shepherds Flat project was corporate welfare masquerading under an environmental rainbow. So are you surprised to learn that shortly after the memo was written the Shepherd Flats loan guarantee of $1.3 billion was approved? Of course not; no doubt you also saw that the memo authors were careful to inform the President that the “338 GE wind turbines” were to be “manufactured in South Carolina and Florida.” Corporate welfare meet politicized investment. In the Solyndra case just about everything went wrong, including bankruptcy and possible malfeasance. Caithness Energy and GE Energy Financial Services are unlikely to go bankrupt and malfeasance is not at issue. As a result, this loan guarantee and the hundreds of millions of dollars in other subsidies that made this project possible are unlikely to create an uproar. Nevertheless, the real scandal is not what happens when everything goes wrong but how these programs work when everything goes right. read the whole thing for links and alaysis Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted September 28, 2011 Share Posted September 28, 2011 Is GE Financial Services owned by GE who is run by Jeffery Immelt? The same Jeffery Immelt that is the chairman of Obama's Council of Jobs and Competitiveness? Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted September 28, 2011 Share Posted September 28, 2011 Is GE Financial Services owned by GE who is run by Jeffery Immelt? The same Jeffery Immelt that is the chairman of Obama's Council of Jobs and Competitiveness? LOL at Perch and Az whining about corporate corruption. This is almost as funny as them whining about Obama's wars. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted September 28, 2011 Share Posted September 28, 2011 LOL at Perch and Az whining about corporate corruption. This is almost as funny as them whining about Obama's wars. LOL at Ursa not whinning about corporate corruption. Two sides of the same coin? Though I would like you to point out when I've approved of corporate corruption. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted September 28, 2011 Share Posted September 28, 2011 Though I would like you to point out when I've approved of corporate corruption. You agree with the SCOTUS decision on corporate donations to political campaigns, do you not? QED. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted September 28, 2011 Author Share Posted September 28, 2011 LOL at Perch and Az whining about corporate corruption. I think my take on govt-corporate cronyism has been pretty consistent. it is in many ways, of course, the antithesis of the kind of free market thought I am drawn to. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted September 28, 2011 Share Posted September 28, 2011 You agree with the SCOTUS decision on corporate donations to political campaigns, do you not? QED. I agree that it was the right decision based on the law. I don't see how they could have possibly decided otherwise with out further tarnishing the Constitution. There is a difference in believing it was the correct decision and liking the decision. I'd be all for an constitutional amendment that required all campaign donations come from individuals rather than corporations and unions. Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted September 28, 2011 Share Posted September 28, 2011 Quote Link to comment Share on other sites More sharing options...
TheGrunt Posted September 28, 2011 Share Posted September 28, 2011 I think my take on govt-corporate cronyism has been pretty consistent. it is in many ways, of course, the antithesis of the kind of free market thought I am drawn to. What? You don't like the government picking winners and losers, or getting their sticky fingers involved with failing green businesses at the cost of taxpayers money? The Fed can always just print more money. It's only paper. Quote Link to comment Share on other sites More sharing options...
Square Posted September 28, 2011 Share Posted September 28, 2011 (edited) Is GE Financial Services owned by GE who is run by Jeffery Immelt? The same Jeffery Immelt that is the chairman of Obama's Council of Jobs and Competitiveness? You know that GE is one of the largest employers on the globe. I have no idea if that had anything to do with why this happened or if it is true cronyism that involved GE, but if you had to exempt all GE businesses, it would be a very strange market in many areas. Edited September 28, 2011 by Square Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted September 28, 2011 Share Posted September 28, 2011 You know that GE is one of the largest employers on the globe. I have no idea if that had anything to do with why this happened or if it is true cronyism that involved GE, but if you had to exempt all GE businesses, it would be a very strange market in many areas. Halliburton is one of the largest contractors in the world, and yet that didn't stop Ursa, Bushwanker and EGOP from going crazy over them getting government contracts. Quote Link to comment Share on other sites More sharing options...
jetsfan Posted September 28, 2011 Share Posted September 28, 2011 Halliburton is one of the largest contractors in the world, and yet that didn't stop Ursa, Bushwanker and EGOP from going crazy over them getting government contracts. I got a Halliburton t-shirt free at a Texans game once Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted September 28, 2011 Share Posted September 28, 2011 Halliburton is one of the largest contractors in the world, and yet that didn't stop Ursa, Bushwanker and EGOP from going crazy over them getting government contracts. So is Joe Biden the ex-CEO / chairman of GE, as was the case with the former Veep and his relationship to Halliburton? A little different, no? Even given the naked corruption with Halliburton's no-bid contracts (you forgot "no-bid"), my major beef was them grotesquely overcharging the government for pretty much everything they did. Incidentally, that was considered treason not all that long ago. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted September 28, 2011 Share Posted September 28, 2011 What? You don't like the government picking winners and losers, or getting their sticky fingers involved with failing green businesses at the cost of taxpayers money? The Fed can always just print more money. It's only paper. I'm pretty sure you're a consistent kind of guy and you just hate government getting involved with business and picking winners and losers. Am I right? Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted September 29, 2011 Share Posted September 29, 2011 So is Joe Biden the ex-CEO / chairman of GE, as was the case with the former Veep and his relationship to Halliburton? A little different, no? Even given the naked corruption with Halliburton's no-bid contracts (you forgot "no-bid"), my major beef was them grotesquely overcharging the government for pretty much everything they did. Incidentally, that was considered treason not all that long ago. I'm pretty sure that Obama listens to the chairman of the council for jobs and competitiveness more than he listens to the buffoon of a vp he has. We've already been over the reason for the no bid contracts, and would think someone that is involved int he construction industry would understand them if not blinded by partisanship. Did the US lose more money on Halliburton over charging them or on Solyndra? Quote Link to comment Share on other sites More sharing options...
bushwacked Posted September 29, 2011 Share Posted September 29, 2011 You know that GE is one of the largest employers on the globe. I have no idea if that had anything to do with why this happened or if it is true cronyism that involved GE, but if you had to exempt all GE businesses, it would be a very strange market in many areas. Halliburton is one of the largest contractors in the world, and yet that didn't stop Ursa, Bushwanker and EGOP from going crazy over them getting government contracts. So it's our fault you can't make a point? Yer the consummate victim. Quote Link to comment Share on other sites More sharing options...
TheGrunt Posted September 29, 2011 Share Posted September 29, 2011 I'm pretty sure you're a consistent kind of guy and you just hate government getting involved with business and picking winners and losers. Am I right? I didn't say the government should be completely out of business. ...No... ...yes. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted September 29, 2011 Share Posted September 29, 2011 I didn't say the government should be completely out of business. ...No... ...yes. Did you see the trap yourself or did someone tip you off? Quote Link to comment Share on other sites More sharing options...
TheGrunt Posted September 29, 2011 Share Posted September 29, 2011 Did you see the trap yourself or did someone tip you off? Yes I saw it. Always been a sucker for biting the bait... builds character. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted September 29, 2011 Author Share Posted September 29, 2011 why the energy department makes a crappy venture capitalist Quote Link to comment Share on other sites More sharing options...
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