Wow! That’s some bravado right there!
Energy Secretary Ernest Moniz dismissed the “controversy” surrounding the loan program that gave taxpayer funding to a now-bankrupt solar energy company, calling the program “a terrific success” despite the high-profile bankruptcies.
“The loan guarantee program has had some controversy. Let me say flatly: It’s been a terrific success, and a $35 billion loan portfolio has had two percent of defaults, 10 percent of the reserve fund that the Congress itself put aside for what is advancement of risky technologies,” Moniz told reporters on C-SPAN’s “Newsmakers.”
Wow, doesn’t that make you just HUNGRY to flush more money down the toilet?
So the feds accepted a 20% default rate on their novel energy loans – $7billion – flushed down the crapper before a dollar was spent.
I want to know how to apply to get some of that $7billion in the next go-around, because I could spend it just as well or better than the Obama aparatchniks who were given hundreds of millions despite being outside the loan guidelines, likely to fail, and unable to present a sound business plan for the loans, other than having a friend in the White House who could recommend the loan go through despite not meeting loan guidelines.
I frickin’ love the emperors new duds!
Now that is what I call a HILARIOUS comment!