“This makes Watergate look like child’s play.”
This was Michele Bachmann's remark Friday afternoon on Fox News comparing Watergate to the Solyndra fiasco the Obama Administration is mired in. She is comparing the most damaging and infamous political scandal in the history of the United States with loan GUARANTEES made by the government. Take note Bachmann: The government didn't make loans to Solyndra, which was falsely asserted multiple times in the interview. Loan guarantees and loans are vastly different. Loan guarantees are financial arrangements in which a company receives loans from conventional banks, with the government stepping in to repay the loans if the company is unable to do so. Basically, they are inverse forms of the SIPC guarantee, and the fact that Solyndra was one of only 2 out of 38 total investments the government made shows a pretty solid record.
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