Another Obama Investment Goes Belly Up

mikemike · 10-17-2012, 07:42 AM

A123 filed for bankruptcy today, thrown under the bus by fellow Obama investment, Fisker. Add this $1/4 billion to the $1/2 billion lost on Solyndra and the $120 million lost on Ener1 but it is a drop in the bucket compared to the $25 billion we will lose on the auto bailout. And I wonder how the Citi shakeup yesterday will affect our ability to recoup taxpayers money on that bailout.

If the president's job is to invest, invest, invest maybe we should have one who can do it successfully.

normhead · 10-17-2012, 07:45 AM - **2 Likes**

Is there anyone like that running? What was Bain's failure rate while Mitt was there. If memory serves me well it was over 20%. But you knew that, this is just a little election grade propaganda right?

JohnInIndy · 10-17-2012, 09:14 AM

Originally posted by normhead

Is there anyone like that running? What was Bain's failure rate while Mitt was there. If memory serves me well it was over 20%. But you knew that, this is just a little election grade propaganda right?

Actually his success rate was 78%

Obama's is 0%
Solyndra
Fiskers
GM (Sure, it was successful if you think the taxpayer losing billions is successful and putting folks out of work and shutting dealerships and division down is "successful")
Chrysler (Between the union and Fiat we still lose.)

normhead · 10-17-2012, 09:29 AM

SO, what's worse, a guy who picks and chooses his battles and has a 22% failure rate, or a guy reacting to a situation with a 100% failure rate. Why would you put a guy with a 22% failure rate on investments he chose, in charge of a country, where he'd have no choice. You inference is one if better than the other. I know it's critical to your position that folks buy into your logic, but the simple fact is, it can be seen both ways.

Romney is good at doing what's good for investors. How is he going to break up, and sell off and America? His tactics work for a small percentage of wealthy Americans, but there is nothing that suggests anything he does would be good for the whole country. Unless he's planning to sell it to China. Y'all can come up here and live in Canada when that happens. But it's going to cost you. The 200,000 former citizens of Mass will testify to that. But hey, imagine if you will, a man who claims he reduced unemployment, when in fact he reduced the labour pool by 200,000 citizens were living in his jurisdiction. That's twilight zone stuff.

I have to say, the US wants a plan, but, too many rich Americans just want to cruise on easy street. They want a recovery, but they want poor folk to pay for it. And as far as I can tell, there is no one in American politics willing to tell rich folk to buck up and pay their fair share. ANd if they did, they wouldn't get a dime in campaign funding, and the fact that they once wet their pants in kindergarden would be blasting from the air waves every 30 seconds.

GeneV · 10-17-2012, 09:38 AM

Originally posted by JohnInIndy

Actually his success rate was 78%

Obama's is 0%
Solyndra
Fiskers

Utterly false. The success rate of the DOE loan program is closer to 96%. What Abound Solar’s Bankruptcy Says About the DOE Loan Program : Greentech Media

Nesster · 10-17-2012, 09:53 AM

I'm probably talking dumb here, but I'd rather have seen the govt fund various research programs in universities, and let the fruits thereof be funded by private equity, the traditional way. It is possible the loan guarantees were needed, what with the period of very tight credit that existed.

Tom S. · 10-17-2012, 10:46 AM - **1 Like**

Regardless, I'd rather see tax dollars used in failed ventures here than failed ventures overseas (as in Afghanistan and Iraq).

jeffkrol · 10-17-2012, 10:48 AM

Originally posted by Tom S.

Regardless, I'd rather see tax dollars used in failed ventures here than failed ventures overseas (as in Afghanistan and Iraq).

plus 4 (trillion)..............

Nesster · 10-17-2012, 11:13 AM

But think of all the ammo, bombs, and materiel we export to Iran and Afganistan... that should be a factor in our balance of trade

jeffkrol · 10-17-2012, 11:52 AM

Originally posted by Nesster

But think of all the ammo, bombs, and materiel we export to Iran and Afganistan... that should be a factor in our balance of trade

well defense spending is the romney "stimulus"...........

Nesster · 10-17-2012, 12:05 PM

Originally posted by jeffkrol

well defense spending is the romney "stimulus"...........

The other being the explosion in deficit spending if he manages to get his tax package enacted

pxpaulx · 10-17-2012, 12:06 PM

Originally posted by jeffkrol

well defense spending is the romney "stimulus"...........

Sure as heck sounds like it, though so far only with subtle back handed comments. I'm looking forward to the foreign policy debate next week, I think America will see a face they truly do not like.

jeffkrol · 10-17-2012, 12:19 PM

Originally posted by Nesster

The other being the explosion in deficit spending if he manages to get his tax package enacted

Originally posted by pxpaulx

Sure as heck sounds like it, though so far only with subtle back handed comments. I'm looking forward to the foreign policy debate next week, I think America will see a face they truly do not like.

OF course he can't just spend trillions on "the takers".... So manuf. of arms is one of the few remaining viable industries...

It will work.. mostly for the 1%.................of course.

As to a Romney "we don't like" well........he is white...........

IF he has this much public support being the "flip flop king" he is.. well I'm not sure much will change that............

Ratmagiclady · 10-17-2012, 12:31 PM

Originally posted by GeneV

Utterly false. The success rate of the DOE loan program is closer to 96%. What Abound Solar’s Bankruptcy Says About the DOE Loan Program : Greentech Media

Actually, just abotu all the 'figures' Mikemike cited are false or not what he claims them to be. Solyndra, for instance, was granted that much in *loan guarantees,* that's not a half a million dollars down the tubes for taxpayers: rather, the company was competing against countries who *were* better supporting their alternative energy, not to mention others in America. And retroactively-blaming the dealership closings that weren't about manufacturing, but rather the GMAC financing company that was acting like the rest of the credit industry, and also pushing vehicles people couldn't afford to drive in the Bush recession for things they couldn't have: this was a *cause* for the bailout, not a result* of the *highly successful bailout* that mikemike wants to wave a figure of will for some reason cost seventy five billion,' ...to blame Obama for the Bush era policies Romney wants to redouble.

Not enough's made of it really, but if the economic recovery has been slow for the regular people, that's because the GOP began its obstructionism in Congress on day two of the administration. Romney and Ryan simply aren't telling the truth when they try to lay the blame for the state of affairs on 'Obama policies' because they've been the ones who delayed and at least limited what the real policies *we voted for* were meant to be.

Nesster · 10-17-2012, 12:35 PM

Originally posted by pxpaulx

I'm looking forward to the foreign policy debate next week, I think America will see a face they truly do not like.

I would not be so sure. Many of us are borderline jingoists, and just about everyone is patriotic. Some are thoughtful patriots, who Obama will suit better. But a lot of people are all for smiting the enemy and we're right so our might is right.

10-17-2012, 07:42 AM	#1
mikemike Inactive Account Join Date: Apr 2010 Location: New Orleans Photos: Gallery Posts: 3,053	Another Obama Investment Goes Belly Up A123 filed for bankruptcy today, thrown under the bus by fellow Obama investment, Fisker. Add this $1/4 billion to the $1/2 billion lost on Solyndra and the $120 million lost on Ener1 but it is a drop in the bucket compared to the $25 billion we will lose on the auto bailout. And I wonder how the Citi shakeup yesterday will affect our ability to recoup taxpayers money on that bailout. If the president's job is to invest, invest, invest maybe we should have one who can do it successfully.

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10-17-2012, 07:45 AM - 2 Likes	#2
normhead Pentaxian Join Date: Jun 2007 Location: Near Algonquin Park Photos: Gallery \| Albums Posts: 40,451	Is there anyone like that running? What was Bain's failure rate while Mitt was there. If memory serves me well it was over 20%. But you knew that, this is just a little election grade propaganda right?

10-17-2012, 09:14 AM	#3
JohnInIndy Veteran Member Join Date: Aug 2010 Posts: 794	Originally posted by normhead Is there anyone like that running? What was Bain's failure rate while Mitt was there. If memory serves me well it was over 20%. But you knew that, this is just a little election grade propaganda right? Actually his success rate was 78% Obama's is 0% Solyndra Fiskers GM (Sure, it was successful if you think the taxpayer losing billions is successful and putting folks out of work and shutting dealerships and division down is "successful") Chrysler (Between the union and Fiat we still lose.)

10-17-2012, 09:29 AM	#4
normhead Pentaxian Join Date: Jun 2007 Location: Near Algonquin Park Photos: Gallery \| Albums Posts: 40,451	SO, what's worse, a guy who picks and chooses his battles and has a 22% failure rate, or a guy reacting to a situation with a 100% failure rate. Why would you put a guy with a 22% failure rate on investments he chose, in charge of a country, where he'd have no choice. You inference is one if better than the other. I know it's critical to your position that folks buy into your logic, but the simple fact is, it can be seen both ways. Romney is good at doing what's good for investors. How is he going to break up, and sell off and America? His tactics work for a small percentage of wealthy Americans, but there is nothing that suggests anything he does would be good for the whole country. Unless he's planning to sell it to China. Y'all can come up here and live in Canada when that happens. But it's going to cost you. The 200,000 former citizens of Mass will testify to that. But hey, imagine if you will, a man who claims he reduced unemployment, when in fact he reduced the labour pool by 200,000 citizens were living in his jurisdiction. That's twilight zone stuff. I have to say, the US wants a plan, but, too many rich Americans just want to cruise on easy street. They want a recovery, but they want poor folk to pay for it. And as far as I can tell, there is no one in American politics willing to tell rich folk to buck up and pay their fair share. ANd if they did, they wouldn't get a dime in campaign funding, and the fact that they once wet their pants in kindergarden would be blasting from the air waves every 30 seconds.

10-17-2012, 09:38 AM	#5
GeneV Veteran Member Join Date: Oct 2008 Location: Albuquerque NM Photos: Albums Posts: 9,830	Originally posted by JohnInIndy Actually his success rate was 78% Obama's is 0% Solyndra Fiskers Utterly false. The success rate of the DOE loan program is closer to 96%. What Abound Solar’s Bankruptcy Says About the DOE Loan Program : Greentech Media

10-17-2012, 09:53 AM	#6
Nesster Veteran Member Join Date: Oct 2006 Location: NJ USA Photos: Gallery Posts: 13,072	I'm probably talking dumb here, but I'd rather have seen the govt fund various research programs in universities, and let the fruits thereof be funded by private equity, the traditional way. It is possible the loan guarantees were needed, what with the period of very tight credit that existed.

10-17-2012, 10:46 AM - 1 Like	#7
Tom S. Veteran Member Join Date: May 2008 Location: S.E. Michigan Photos: Albums Posts: 4,317	Regardless, I'd rather see tax dollars used in failed ventures here than failed ventures overseas (as in Afghanistan and Iraq).

10-17-2012, 10:48 AM	#8
jeffkrol Veteran Member Join Date: Sep 2006 Location: Wisconsin USA Photos: Gallery Posts: 8,434	Originally posted by Tom S. Regardless, I'd rather see tax dollars used in failed ventures here than failed ventures overseas (as in Afghanistan and Iraq). plus 4 (trillion)..............

10-17-2012, 11:13 AM	#9
Nesster Veteran Member Join Date: Oct 2006 Location: NJ USA Photos: Gallery Posts: 13,072	But think of all the ammo, bombs, and materiel we export to Iran and Afganistan... that should be a factor in our balance of trade

10-17-2012, 11:52 AM	#10
jeffkrol Veteran Member Join Date: Sep 2006 Location: Wisconsin USA Photos: Gallery Posts: 8,434	Originally posted by Nesster But think of all the ammo, bombs, and materiel we export to Iran and Afganistan... that should be a factor in our balance of trade well defense spending is the romney "stimulus"...........

10-17-2012, 12:05 PM	#11
Nesster Veteran Member Join Date: Oct 2006 Location: NJ USA Photos: Gallery Posts: 13,072	Originally posted by jeffkrol well defense spending is the romney "stimulus"........... The other being the explosion in deficit spending if he manages to get his tax package enacted

10-17-2012, 12:06 PM	#12
pxpaulx Veteran Member Join Date: May 2009 Location: Twin Cities, MN Posts: 2,867	Originally posted by jeffkrol well defense spending is the romney "stimulus"........... Sure as heck sounds like it, though so far only with subtle back handed comments. I'm looking forward to the foreign policy debate next week, I think America will see a face they truly do not like.

10-17-2012, 12:19 PM	#13
jeffkrol Veteran Member Join Date: Sep 2006 Location: Wisconsin USA Photos: Gallery Posts: 8,434	Originally posted by Nesster The other being the explosion in deficit spending if he manages to get his tax package enacted Originally posted by pxpaulx Sure as heck sounds like it, though so far only with subtle back handed comments. I'm looking forward to the foreign policy debate next week, I think America will see a face they truly do not like. OF course he can't just spend trillions on "the takers".... So manuf. of arms is one of the few remaining viable industries... It will work.. mostly for the 1%.................of course. As to a Romney "we don't like" well........he is white........... IF he has this much public support being the "flip flop king" he is.. well I'm not sure much will change that............

10-17-2012, 12:31 PM	#14
Ratmagiclady Veteran Member Join Date: Nov 2008 Location: GA Photos: Gallery \| Albums Posts: 13,563	Originally posted by GeneV Utterly false. The success rate of the DOE loan program is closer to 96%. What Abound Solar’s Bankruptcy Says About the DOE Loan Program : Greentech Media Actually, just abotu all the 'figures' Mikemike cited are false or not what he claims them to be. Solyndra, for instance, was granted that much in loan guarantees, that's not a half a million dollars down the tubes for taxpayers: rather, the company was competing against countries who were better supporting their alternative energy, not to mention others in America. And retroactively-blaming the dealership closings that weren't about manufacturing, but rather the GMAC financing company that was acting like the rest of the credit industry, and also pushing vehicles people couldn't afford to drive in the Bush recession for things they couldn't have: this was a cause for the bailout, not a result* of the highly successful bailout that mikemike wants to wave a figure of will for some reason cost seventy five billion,' ...to blame Obama for the Bush era policies Romney wants to redouble. Not enough's made of it really, but if the economic recovery has been slow for the regular people, that's because the GOP began its obstructionism in Congress on day two of the administration. Romney and Ryan simply aren't telling the truth when they try to lay the blame for the state of affairs on 'Obama policies' because they've been the ones who delayed and at least limited what the real policies we voted for were meant to be.

10-17-2012, 12:35 PM	#15
Nesster Veteran Member Join Date: Oct 2006 Location: NJ USA Photos: Gallery Posts: 13,072	Originally posted by pxpaulx I'm looking forward to the foreign policy debate next week, I think America will see a face they truly do not like. I would not be so sure. Many of us are borderline jingoists, and just about everyone is patriotic. Some are thoughtful patriots, who Obama will suit better. But a lot of people are all for smiting the enemy and we're right so our might is right.