Today embattled Energy Secretary Steven Chu finally ended his silence and took personal responsibility for the controversial Soyndra loan amid congressional charges that he may have violated federal laws. At the contentious hearing he repeatedly said he was unaware of many governmental emails and reports that warned Solyndra was a bad bet.
Chu testified under oath before a key House Energy and Commerce oversight subcommittee. He asserted “the final decisions on Solyndra were mine” and that “I did not make any decision based on political considerations.”
Chu said that knowing what he knows today about Solyndra, he “would not have approved” the Solyndra loan. He said he did not know how much money taxpayers would recover from the Solyndra bankruptcy but added “not very much.”
Chu claimed that the $535 million loan guarantee was not awarded because of the company’s ties to George Kaiser, a major donor for the president’s 2008 political campaign.
He said some additional DOE green loans may be in “financial trouble,” but under repeated questioning by the panel’s chairman he refused to give a specific number.
A Republican congressman charged that the secretary’s decision to change the Solynra loan terms at the last minute violated federal law. The change by Chu, called subordination, waived U.S. government rights as a first tier creditor to recover money during the Solyndra bankruptcy.
Prior to today’s hearing some lawmakers have called for Chu’s resignation.
Chu emphasized that upon entering office he was ordered to “get the loans out” and he authorized “the most promising” companies. Solyndra was the first recipient of Obama’s ambitious $37 billion green technology funding. The California company was touted by the White House as a solar energy winner. President Obama and Vice President Joe Biden personally hailed the company.
Chu said he did not know Kaiser, a prominent 2008 Obama campaign donor, was tied to Solyndra. Rep Barton (R-TX) retorted he was surprised Secretary Chu did not know since “everyone else in DOE” knew about Kaiser’s relationship. Kaiser has personally visited the White House 16 times since President Obama assumed office. He defended himself that no one at the White House “pressured” him to approve the loan.
However, the secretary equivocated about White House communications to him under questioning by Rep Marsha Blackburn (R-TN).
If Chu is not at minimum resigning in disgrace (and, preferably, also facing charges and a lengthy prison term along with a number of underlings), then he is not “taking responsibility,” but rather deflecting it.
Bingo.
Ever hear of eric holder?
Do you still think he’ll be proceuted
What does he care it’s not his money. Just like his boss, doesn’t care how hard we worked for it.
So, now having hind sight, Chu gets off with an apology? What about, BrightSorce, Tesla, etc. etc. ? Did he approve these as well?
Well if if was insane to begin with and green on top of that then yes of course he did. He is after all an ideologue!
Ignorance of the law is no excuse. This is a fundament of law and society.
“I’m sorry, your Honor. I didn’t know ____ was a crime. I won’t do it again.”
“Go directly to Jail.”
It doesn’t matter whether or not he knew. It does not matter if he was pressured. His was the responsibility. He had access to the information. There is no excuse.
Go directly to Jail.
Playing the “ignorant” card is now the new “racist!” for this Administration. Personally, I would like to see the Secretary not only be removed from office and put into prison, but also to be held accountable for that $500 million dollars.
Maybe, just -maybe-, if we start putting the amount of money lost as a criminal charge by itself we may see some improvement here.
let me see if I got this right.
every report said it was a bad investment and one even named the date it would run out of money.
but he had no idea it was a bad loan.
the blinders ran deep here.
To accept Chu’s statements that he did not know Solyndra was already in trouble, one would have to imagine that Chu couldn’t find his anus if he had nostrils in his fingertips. Attorney General Holder professes to be similarly ignorant of what is going on in his bailiwick. This sort of malfeasance makes clear that 0bama’s appointees were chosen for reasons other than competence.
The libs were outraged at Reagan’s oft-repeated, “I don’t recall.” when he was being questioned about Iran-Contra. (Of course, now we know his memory was already in trouble with Alzheimer’s.)
Assuming that it was simply a dishonest tactic(because they cannot comprehend honesty), they have adopted it as their own tactic, and it’s been very effective for them. (e.g., Hillary and the Rose Law firm)
“Democratic Rep Henry Waxman (D-CA) said he did not think Secretary Chu had done anything wrong and that the issue was a “distraction.””
Typical.
Why do all these horrible, far far far far left Democrats from California have as much power as they do? Nancy Pelosi and her insider trading husband, Dianne Feinstein and her “Hey, look, a bunch of dead Mexicans because we gave the drug cartels thousands of guns, let’s call for gun control”, Waxman and his climate change and all these absurd accusations of “showboating”… Where is the outrage??? Is it acceptable for people to waste billions of dollars of taxpayer money and cause the deaths of hundreds of people and just say “SHUT UP, STOP PLAYING POLITICS”? Is there anyone with any integrity left in the Democratic Party?
Because of gerrymandered “safe” districts and House seniority rules, the most extreme sides of both parties tend to rise to the leadership positions in the Committees.
Only a loony district like San Francisco would keep sending a loony rep like Nancy Pelosi to Congress year after year, and only OTHER loons from similarly loony districts would agree to electing a loon like Pelosi as Speaker.
It all looks swell in the Caucus, but when it meets the Real World, the result is the catastrophe for her own party that was the Pelosi Speakership…a Profile In Idiocy that will studied in Poli-Sci for decades to come.
Chu is the classic example of an academic floundering in the real and business world. Many of the appointees were from academicia. Here is a type that is great in the theories, and stunned when text book living does not coincide with life.
“I did not make any decision based on political considerations.” Chu also sings the chorus of the glory and necessity of going green. In his world going green is not political. It sound like, ‘damn the current realities, onto utopia’ which also sound the rest of this administration’s campaign. The WH needs a fall guy.
I’m a retired contracting officer. What I don’t get is… why isn’t anyone talking about the effect of the “Christian Doctrine.” ( A contracting officer agreed to omit a legally required clause from a contract with G.L.Christian Co. Later, a court read in the clause. Basically, if an agent of the Government agrees to an illegal act, that agreement is null.) Hello, DOJ?
I don’t disagree with your statement as I’m not familiar with the “Christian Doctrine”.
But to call on the DOJ? The fox guarding the henhouse—again.
Mr. Chu, there is no need to “take responsibility” (how droll). Obviously you should never have been selected for the post (I mean, honestly, you could not administer a multiplex-theater snack bar). Just leave quietly and all will be forgotten.
How much cash did the top executives and Kaiser take out the company. The whole thing seems to be a big scam-a-go-round. They get the loans (our money) pay themselves a ton of cash and then go under. How many of Solyndra executives are already settled into the next company just waiting for us to fund another big payday. Welcome to corporate welfare 101.
Those in government appears to be after what can line their pockets, rather than be a statesmen for America. Sell outs.
If I give to DaOne’s re-election to the tune of blank, can I get a company loan for blank?
Kaiser’s company got back far more than he bundled into Obama’s campaign, which is the only reason why a Republican (Kaiser) could be justified in making that investment. He bundled in something like $500,000 and got a loan of $535 million. Talk about an impressive ROI! It’s practically Madoffian!
Stephen Chu makes me ashamed to be a fellow graduate of the University of Rochester.
I had no idea that Eddie Anderson had his own university.
This is a sad day … the rule of law takes another hit? Please tell me it ain’t so. This is Rangel 2 … make excuses; apologize … receive a slap on the wrist and then step into another higher-paying job. Being a scumbag is a resume enhancer for these people. CHU is laughing at the taxpayers – uh that would be us.
Henry Waxman – the mere sight of his nostrils just makes me want to jam a box of pipe cleaners up each one. Another partisan (screw the taxpayer) hack scumbag.
What ever happened to the FBI’s investigation? Where are all those records and what’s being done with them? Has the FBI been politicized?
WHY, is Mr. Chu making garrentees with our taxs money that he admits is above his pay grade and level of expertise? This is totaly beyond wrong and considering the LACK OF OVER SIGHT by this administration some one should do JAIL TIME as a example to others who would do this.
This is nothing less than crininal, I demand justice, not business as usual.