Bob Owens

The saddest truth in politics is that people get the leaders they deserve

What Chu doing? Taking the fall for President Solyndra

Written By: Bob - Nov• 17•11

Energy Stephen Chu is going to fall on his sword to protect his boss’s crony capitalism.

Energy Secretary Steven Chu will accept full responsibility Thursday for the decision to risk $535 million on Solyndra, the government-supported solar panel manufacturer that shut its doors earlier this year laying off 1,100 workers, and is now the subject of multiple federal investigations.

“As the Secretary of Energy, the final decisions on Solyndra were mine, and I made them with the best interest of the taxpayer in mind,” Chu has written in testimony prepared for his first appearance before Congress to answer questions about the failed loan.

“I want to be clear: over the course of Solyndra’s loan guarantee, I did not make any decision based on political considerations,” says Chu’s prepared testimony, which was made public by his aides late Wednesday. “My decision to guarantee a loan to Solyndra was based on the analysis of experienced professionals and on the strength of the information they had available to them at the time.”

I wonder if anyone actually believes that Chu acted alone, without any thought to “political considerations.”

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  1. In order to explain the Economic Theory Behind Solyndra…

    1. Give half a billion dollars to company run by campaign donors and cronies so they can buy robots that whistle Disney music while making solar panels they sell for half of what they cost to make.

    2. ???

    3. Profit!

    … Chu will bring out his surprise witnesses, the Underpants Gnomes.

  2. John P. Squibob says:

    More likely he was convinced that he acted alone. And I’m not using convinced as code for coerced. People like Chu that are at the far right end of the Bell Curve don’t necessarily have the skills to realize that they’re being made the patsy.

  3. SouthernRoots says:

    With the media cover, he is probably only falling on his nail clippers instead of his sword.

  4. Neo says:

    This isn’t exactly falling on his sword.
    Secretary Chu broke the law by subordinating the government against other creditors. He shouldn’t just resign, he should go to jail.

  5. emdfl says:

    Like Reno took responsibilty for Waco and Ruby Ridge…