CNN has two dynamite pieces on Solyndra, "Romney wrong on Solyndra facts" and "Seven things you should know about Solyndra."
The first one, by Steve Hargreaves of CNN Money, ends:
It's one thing to spin something to one's advantage. It's another to simply make things up to make the other guy look bad. Romney's Solyndra speech was an example of the latter. Disgraceful.
Hargreaves shows that Mitt Romney's key claim — "An independent inspector general looked at this investment and concluded that the Administration had steered money to friends and family and campaign contributors" — has no basis in fact.
The second piece, also by Hargreaves, lists 7 key facts:
1. It was started by Bush: The DOE loan program that funded Solyndra was actually started by President Bush in 2005. It was intended to provide government support for "innovative technologies"….
In fact, as Climate Progress reported back in September, the "Bush Administration advanced the Solyndra loan guarantee for two years" before Obama became President.
2. Congress thought there would be more failures: Two companies have declared bankruptcy under the loan program so far, out of the 33 projects funded. Congress was expecting more….
Congress appropriated money to cover expected losses, and multiple independent reviews have confirmed that the actual losses will likely be less than Congress expected.
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