New ad ties Solyndra to Obama’s ‘wasteful cronyism’
December 12th, 2011
09:14 AM ET
11 years ago

New ad ties Solyndra to Obama’s ‘wasteful cronyism’

(CNN) – A Republican-leaning independent group will attack the Obama administration over its connection to Solyndra, the now-bankrupt solar energy company, in a new ad airing Monday.

The spot from Crossroads GPS is set to run for the next week nationally and says the company is an example of "cronyism" in the White House.

Solyndra secured a half-billion-dollar loan guarantee from the federal government, the first such company to receive a loan under the stimulus program to encourage green energy. They filed for bankruptcy in September.

"Obama gives his supporters at Solyndra a $535 million loan even though its business plan is risky," the ad says. "Solyndra goes bankrupt, the FBI is investigating and who pays the bill? We do. No jobs, just more red ink."

The current administration has defended the loan restructuring to the company, backed by a major Obama supporter, saying the infusion of cash postponed its downfall.

A memo from the political action committee said the new ad, which is part of a $500,000 cable television buy, reveals the inherent downside of President Barack Obama's support of "government as a guarantor of economic prosperity and fairness."

"The new ad, called 'Typical,' exposes the grubby reality behind Obama's high-flown rhetoric, and begins to clarify the crucial policy choices Americans face: between President Obama's expensive, ineffective agenda and a realistic path toward economic and fiscal recovery," the memo says.

Crossroads launched during the 2010 election cycle with the help of Karl Rove to promote Republican candidates across the country. Although they have released ads in early voting states and sites of competitive Senate elections ahead of the 2012 elections, Monday's offensive is part of a new effort to strike the president's record.

- CNN Deputy Political Director Paul Steinhauser contributed to this report.

Filed under: 2012 • Ads • Crossroads GPS • President Obama
soundoff (38 Responses)
  1. stevie

    Good ad. They should mention the other "green" companies that recieved taxpayer money and then went belly up. There are alot more than Solyndra. What a miserable failure Obummer`s half baked ides are.

    December 12, 2011 10:24 am at 10:24 am |
  2. Four and The Door

    Dominican mama 4 Obama
    Solyndra went bankrupt. Stuff happens. The auto industry, meanwhile, DID NOT
    The only large American auto company that did not go bankrupt was Ford...the one who took no bailout money. The fact is, Obama threw money at GM and Chrysler and both went bankrupt. Short memory?

    December 12, 2011 10:25 am at 10:25 am |
  3. v_mag

    Yes, please Repugnants! Bring up cronyism so we can pound you on Halliburton and the billions that evaporated in 2 unncessary wars! Let's talk about all that substandard work that Bush/Cheney connected companies did in Iraq and Afghanistan. The Repugnants invented cronyism, and none of their administrations will stand up in the daylight.

    If the cronyism charge sticks in this administration, then so be it. But don't play holier-than-thou. Repugs are champions at throwing business to their buds.

    December 12, 2011 10:27 am at 10:27 am |

    GOP = out of ideas and forever regurgitating FOX NOISE talking points.

    December 12, 2011 10:28 am at 10:28 am |
  5. Phil in KC

    Let's face it, investing in a firm like Solyndra is basically venture capitalism. And they don't always pay off; you're taking a bit of a gamble. Now, whether Wasthington should be using tax money in that fashion is questionable. But, if you don't take risks, you don't make progress.

    December 12, 2011 10:30 am at 10:30 am |
  6. gt

    its true .. sorry.. this was another waste of your tax dollars to benift obama and his big donors..

    December 12, 2011 10:31 am at 10:31 am |
  7. Rudy NYC

    Four and The Door wrote:
    Actually, the Bush Administration rejected putting any money in this company because of even less information about the bad shape of the company than Obama had. You have to admit, this investment turned out remarkedly similar to the rest of Obama's attempts at "fixing" the economy. The money is gone and unemployment is up.
    Stop the spin, please. The Bush administration did not "reject" this company. In fact, the Bush adminstration created the program and recruited Solyndra to be a participant. The Obama administration's mistake was to trust the facts left behind by Bush more than members of his own administration.

    Unemployment as at 7.8% when Obama was sworn in, and it was over 8% before the new Congress had convened following is being sworn in. You have not heard one Democrat deny the investment was made. All of that sort of talk is originating in the right wing media, attributing blanket statements to the other side without naming who actually said it.

    December 12, 2011 10:31 am at 10:31 am |
  8. Sniffit

    "Compare the sweetheart deal money that went to Cheney's former company to Solyndra, and its peanuts."

    No. That gives false ads like this one too much credit. There is a substantive difference. The reality is, House GOPers conducted their a witch hunt and were unable to come up with the blazing proof they needed to establish the accuracy of their accusastions of cronyism and administrative inappropriateness with respect to Solyndra. The evidence showed that this was an independent administrative decision by the appropriate administrative body and that Obama/WH didn't really interefere or exert undue influence etc. in the way the GOP wants everyone to believe. That's entirely different than Cheneybot and the Bush administration abusing the no-bid contract process to siphon money to Haliburton after starting an unjustified war of convenience designed to grow and enrich the military industrial complex...or the secret meetings with Big Oil that, after the gulf spill a couple years ago, we discovered resulted in regulatory agencies slacking off and allowing BP and others to use substandard materials and defective designs to cut corners at risk of oil spills.

    December 12, 2011 10:33 am at 10:33 am |
  9. The Real Tom Paine

    Democrats answer to everything, TAX THE RICH, TAX BUSINESS, then have the GOP do what the GOP does best, waste more money on a fruitless fishing expediction. Were you this outraged when no-bid contracts were being awarded to Haliburton for billions of dollars, money that was given off the books in many instances, and never accounted for? Was it any surprise when it was Cheney's former company that was at the bottom of that fetid sewer? Nope. Was anyone prosecuted and brought to justice for war profiteering? Nope. Funny how you gloss over that, but have zeroed in on a company that was struggling against Chinese-subsidized companies ( which probably were trying to kill Solyndra with GOP help). I would love to see what Darrell Issa won't find, but I'm sure the Cons will eat it up, since it nourishes their narrative that Obama is corrupt while cheerfully ignoring their own corrupt ties between business and government: Koch, anyone?

    December 12, 2011 10:34 am at 10:34 am |
  10. S.B. Stein E.B. NJ

    I say that this showed some attempt to compete with the rest of the world on renewable energy. If we don't support our own renewable energy manufacturers, then we are sunk because China will do it with cheap labor and no safety guide lines for its workers. We need more places here in the US to get smaller support from the government that is matched by the private sector.

    December 12, 2011 10:39 am at 10:39 am |
  11. Four and The Door

    Rudy NYC
    Stop the spin, please...The Obama administration's mistake was to trust the facts left behind by Bush more than members of his own administration.
    And yet you try to SPIN that Obama's investment in Solyndra was based on Bush's data?!?! This is somehow Bush's fault now?!?! Obama is stupid enough to use someone else's data to invest? They did no due diligence on their own?

    December 12, 2011 10:40 am at 10:40 am |
  12. Romney, he changes his positions as often as his magic underwear.

    One word: halliburtion

    December 12, 2011 10:41 am at 10:41 am |
  13. SuperD

    This is going to be a campaign issue, it's not going away. Obama's fingerprints are all over this one.

    CNN, how are you going to protect the President this time? Can you imagine if the Republicans had started this? The fury the MSM would be having.

    Bottom Line: The Administration wasted your tax dollars on a leftist agenda. If Democrats could ever understand market economics, we'd all be much better off, but not likely to happen because Dems hate the market economy. Hence, their Marxist and Socialist policies. We need to dump this crew in a big way in 2012

    December 12, 2011 10:44 am at 10:44 am |
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