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SackExchange71 Icon : (17 August 2014 - 02:31 PM) Imo i still think howard is better then giacomini..Wish they never let him walk.Giacomini had alot of flags in seattle also
azjetfan Icon : (18 August 2014 - 09:33 AM) Howard recieved a huge contract in Oakland. Way over his actual value.
azjetfan Icon : (18 August 2014 - 10:08 AM) So did we make a trade for a CB yet?
Jetsfan0099 Icon : (18 August 2014 - 03:51 PM) Milliner did suffer a high ankle sprain, that sucks. could linger all year
Jetsfan0099 Icon : (18 August 2014 - 03:52 PM) I think Patterson sucked vs the Colts because he was injured, which he always is.
Mr_Jet Icon : (18 August 2014 - 06:49 PM) As much as people criticized Tannanbaum for spending too much. It's starting to look like Idzik is going to be too cheap.
Mr_Jet Icon : (18 August 2014 - 06:52 PM) You get what you pay for and when you let quality players go because you don't want to pay them, this is what happens. You're left with scrub players.
azjetfan Icon : (18 August 2014 - 07:55 PM) I'm still on board with the Idzik plan. Even with Revis and Revis we still are not going to the SB this year. But the down time sucks. If Milliner comes back healthy by week 3 or so we should be fine.
Mr_Jet Icon : (18 August 2014 - 08:18 PM) Regardless of our SB chances this year or next year. If Idzik keeps acting like a cheapskate and continues to let quality players go, we won't have to worry about winning much of anything this decade.
azjetfan Icon : (18 August 2014 - 09:36 PM) He wants to build through the draft. Not blow the bank on FA. I get what your saying but there is a balance and right now we are not one or two pieces away.
Mr_Jet Icon : (18 August 2014 - 11:00 PM) It's not about being one or two pieces away. It's about keeping the good pieces you have and building upon that.
Mr_Jet Icon : (18 August 2014 - 11:04 PM) But there is no sense in trying to build through the draft if he's only going to end up letting the good players he picks up go in FA after a few years. All because he wants to do things on the cheap.
Jetsfan0099 Icon : (19 August 2014 - 07:02 AM) FIRE IDZIK
azjetfan Icon : (19 August 2014 - 08:33 AM) out side of Revis who left we should have kept?
azjetfan Icon : (19 August 2014 - 08:34 AM) The Revis deal sucks but $16 million was too much for a CB and once he was gone he was not coming back.
Mr_Jet Icon : (19 August 2014 - 11:00 AM) Matt Slauson
azjetfan Icon : (19 August 2014 - 01:00 PM) Eh. I think with our current cap situation we will be able to retain guys like Wilkerson and whomever we want to keep. We are in a good position right now.
Mr_Jet Icon : (19 August 2014 - 01:49 PM) Time will tell.
Jetsfan115 Icon : (19 August 2014 - 02:00 PM) landed revis abck. got DRC, nope we take patterson who got owned and always hurt. milner always hurt. 3rd round CB done for season. were gonna get passed on all day
azjetfan Icon : (19 August 2014 - 02:44 PM) Yea the DRC bit makes me iffy
Jetsfan115 Icon : (19 August 2014 - 03:35 PM) better then patterson
azjetfan Icon : (19 August 2014 - 05:45 PM) No I mean the fact that he whiffed on him.
azjetfan Icon : (19 August 2014 - 05:46 PM) I'm not saying Idzik is perfect. I just like the direction we are heading. It's going to take some patience.
RetireChrebet Icon : (19 August 2014 - 06:27 PM) I like how our lack of secondary is the hot topic right now. The bigger issue is we still will not be able to throw the ball. We are not going to do much of anything regardless until we get a QB. Sorry for being so negative just my honest opinion.
RetireChrebet Icon : (19 August 2014 - 06:29 PM) With that said I think our running game with CJ and Powell will be top 10 or somewhere around there
Jetsfan115 Icon : (19 August 2014 - 06:35 PM) i have faith that if geno messes up that vick can come in and do well. but i have 0 faith in our secondary right now which has been our strong point for the past 4 years or so
MikeGangGree... Icon : (19 August 2014 - 07:35 PM) I agree 115. but the one thing is Rex has done some good things in the past with shitty DBs and still had a solid D going back to his years in BAL
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azjetfan Icon : (19 August 2014 - 08:26 PM) I assume we will pick up a guy after the cuts happen.
Jetsfan0099 Icon : (19 August 2014 - 10:14 PM) we'll see but I think we see better QB play than we have in a while.
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Obama Makes Bad $535 Million Loan http://news.yahoo.com/blogs/lookout/exactly-happened-goverment-solyndr

#1 User is offline   azjetfan Icon

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Posted 15 September 2011 - 05:23 PM

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The big story marring President Obama's jobs tour Wednesday is the $535 million loan his administration doled out to Solyndra, a solar panel company that has just gone belly-up, leaving taxpayers on the hook.

President Barack Obama visited the facility in May 2010, and said it was "leading the way toward a brighter and more prosperous future." But only a month later, the company laid off 100 employees and cancelled its plans for a public stock offering. Two weeks ago, it filed for Chapter 11 and fired 1,000 workers. FBI agents promptly raided the company's California offices.

So what exactly happened? And how big will the fallout be for Obama?

The accusation

Republicans on the House and Energy Commission are accusing the Obama administration of ignoring multiple warning signs that Solyndra was a bad bet. The Commission lays out its case against the administration's handling of the loan in a report released Wednesday, following a months-long investigation.

Under the Bush administration, the Department of Energy rejected Solyndra for a loan in early 2009, worrying that the company didn't have good long-term prospects. Yet only two months later, Obama's newly appointed Energy Secretary Steven Chu announced the government would give the company a $535 million loan, funded with money from the stimulus. Last year, government accountability investigators criticized the White House for scheduling a groundbreaking at a Solyndra plant before the Energy Department had even finished filing all its paperwork. "This deal is NOT ready for prime time," a White House budget analyst wrote only nine days before the agreement was announced.

At issue are two main things. One, emails obtained by the Center for Public Integrity show that White House officials asked the Department of Energy to make a decision on the Solyndra loan so that they would know whether they could schedule President Obama for a visit to the facility to publicize the loan. Republicans say this is evidence that the White House pressured the Energy Department, or used undue influence, to approve the loan before they knew whether it was a good bet. Republicans also mention that a big private backer of the deal, Oklahoma billionaire George Kaiser, also raised money for Obama's 2008 campaign.

The second accusation is that once the loan went through, the Obama administration ignored warning signs that the company was failing and then refinanced the loan in a way that left taxpayers twisting in the wind. A few days before the groundbreaking on the new Solyndra facility in September 2009, a Department of Energy official completed an analysis that concluded the company would run out of cash by September of 2011--a forecast that turned out to be right on the mark.

But it wasn't until last February that the government decided Solyndra was about to default, and refinanced the company's original loan with the help of $75 million from private investors. As part of the deal, the government agreed that if Solyndra ever went bankrupt, it would have to pay back the $75 million to investors first, ahead of disbursing any money back to the taxpayers.

Center for Public Integrity reporter Ronnie Greene told The Lookout that Republican members of the subcommittee suggested Wednesday that cutting such a deal was illegal, in violation of a provision of the Clean Air act.

Jeffrey Zients, deputy director of the Office of Management and Budget, defended the restructuring at the hearing Wednesday, arguing that it was less costly to taxpayers than liquidation or any other option would be.

The White House's defense

White House spokesman Jay Carney said Wednesday that the White House did not try to accelerate the approval process for the loan in any improper way. "What the emails make clear is there was urgency to make a decision on a scheduling matter. It is a big proposition to move the president or to put on an event and that sort of thing so people were simply looking for answers about whether or not people could move forward," Carney told reporters. "It had nothing to--and there is no evidence to the contrary--nothing to do with anything besides the need to get an answer to make a scheduling decision," he said.

Democrats on the panel, meanwhile, tried to deflect blame to the Solyndra executives themselves, arguing that company officials misled them about Solyndra's financial situation in July.

"I'm perplexed how they can be in my office in July telling me things are looking better and two months later filing for bankruptcy," Rep. Diana DeGette (D-Colo.), the top Democrat on the committee's oversight panel, said, according to The Hill.

The FBI won't say why it raided Solyndra's offices, and later searched executives' homes.

The top Energy Department and Office of Management and Budget officials at the panel said the Bush administration had also looked into giving the company money and that all such investments are risks. Zients, of the Office of Management and Budget, stressed that an independent credit rating agency and experts had examined the company before it was approved for the loan.

"Some of America's most sophisticated professional investors collectively invested nearly a billion dollars in the company after conducting extensive due diligence of their own," Jonathan Silver of the Energy Department testified.

Potential fallout?

The most obvious consequence of the Solyndra fiasco is that the government is going to lose some cash. According to the Washington Post, taxpayers will pick up the tab for the loan if Solyndra can't repay it. "The Energy Department could seek repayment in court, but receiving more than a nominal amount is unlikely because of the company's depleted cash and assets," the Post reports.

The legal implications of the case are less clear. Since the FBI won't disclose the reasons for raiding Solyndra's offices, the nature of the agency's investigation is unclear. Democratic lawmakers have suggested that the company misrepresented its financial situation to Congress.

Meanwhile, Republican lawmakers suggested that the February refinancing of the loan providing for private investors to be paid back before the government may be illegal. But that's far from certain, according to Greene.

In the short term, the controversy has spurred calls to roll back or regulate Obama's green jobs program. Sen. David Vitter (R-La.) floated legislation Wednesday to require all renewable energy companies that received a loan from the U.S. government in the past two years to undergo an audit, the Hill reported.
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Posted 15 September 2011 - 11:58 PM

What does Obama know about making money? He went from being a student to academia to politics. The only shocking part about it is that it was only half a billion.
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#3 User is offline   santana Icon

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Posted 16 September 2011 - 12:38 AM

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The top Energy Department and Office of Management and Budget officials at the panel said the Bush administration had also looked into giving the company money and that all such investments are risks. Zients, of the Office of Management and Budget, stressed that an independent credit rating agency and experts had examined the company before it was approved for the loan.

"Some of America's most sophisticated professional investors collectively invested nearly a billion dollars in the company after conducting extensive due diligence of their own," Jonathan Silver of the Energy Department testified.


If this holds up to be true I don't get what the big deal is
535 mil is a lot of money to invest but these investments when they work out will drive the country forward

Seems like solyndra didn't hold up their end and is a good sign why business in America is suffering
Even after a cash infusion those fuckers couldn't get their shit together
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#4 User is offline   Jetsfan115 Icon

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Posted 17 September 2011 - 08:29 PM

View Postsantana, on 15 September 2011 - 10:38 PM, said:

If this holds up to be true I don't get what the big deal is
535 mil is a lot of money to invest but these investments when they work out will drive the country forward

Seems like solyndra didn't hold up their end and is a good sign why business in America is suffering
Even after a cash infusion those fuckers couldn't get their shit together


its cause the people at the top (ceo, vp, president, cfo, controller, etc) are greedy and take huge salaries for no reason. there is no reason a vp should make more then 30k a year more then the person below them. but they give themselves a 5 mil a year salary for vanity and it drains money from the company
Get it done MT
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Posted 20 September 2011 - 08:00 PM

http://www.zerohedge...cfo-plead-fifth

When the FBI raids your offices, it's not because you gave yourself a big bonus.
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Posted 30 September 2011 - 06:30 PM

It's just a shame that Obama can't be charged with anything regarding this. He basically gave away 535 million after being told it's a bad bet. BUT....since it was funded by the stimulus package he went even further and had it hidden in there claiming the money was goignt o the American taxpayers. Really? Sounds to me like some old college buddies got a nice payday from Obama.
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