Obama on Solyndra: ‘Hindsight Is Always 20/20’
President Obama told ABC News Monday that he does not regret touting the solar company Solyndra as a model of his jobs program, or loaning $535 million in taxpayer money to the company before it declared bankruptcy.
“Hindsight is always 20/20,” Obama told “Good Morning America” anchor George Stephanopoulos in an interview broadcast online Monday. “It went through the regular review process and people felt that it was a good bet.” The interview was the first under a new alliance between ABC News and Yahoo News.
The “regular review process?” Really? That’s not what ABC reported in June 2011 where they found the review “cut corners”:
ABC News asked the president about the Solyndra loan as Congress released White House emails that show a top donor to Obama was in direct contact with one of the president’s closest advisers about the federal energy loan program. Steve Westly, a California venture capitalist who raised more than $500,000 for Obama’s campaign, exchanged emails with Valerie Jarrett, one of Obama’s closest advisers, to warn her about political fallout that could ensue if the president visited the factory being built by Solyndra.
“Could you perhaps check with [the Energy Department] to make sure they’re comfortable with the company? I just want to help protect the president from anything that could result in negative or unfair press,” Westly said. “If it’s too late to change/postpone the meeting, the president should be careful about unrealistic/optimistic forecasts that could haunt him in the next 18 months if Solyndra hits the wall, files for bankruptcy.”
With all due respect, Mr. President, your comment that “hindsight is always 20/20″ is a load of crap. There were problems with Solyndra from day one that should have kept taxpayers from making the investment. Read the rest of this damning ABC report here.