Obama was warned of loan dangers long before Solyndra sank

Top economic advisors to President Obama warned him a year ago about the serious political and financial risks of the Energy Department's loan guarantee program that has resulted in taxpayers likely being responsible for the loss of $527 million loaned to the politically-connected California solar firm Solyndra.

That loan is currently under investigation by a House subcommittee and the FBI, which raided company offices earlier this month.

Obama visited the Solyndra plant in 2010, touting it as a shining example of his program to simultaneously boost the U.S. green-energy industry and create new jobs. Last winter the Energy Dept. restructured the more than half-billion dollar loan to the troubled firm.

But on Aug. 31 the company, whose major owner was also a major fundraising bundler for the 2008 Obama-Biden campaign, filed for bankruptcy and eliminated most of its 1,100 jobs.

In a detailed story posted overnight, The Times' Tom Hamburg, Kim Geiger and Matea Gold outline the danger signals set off in October 2010 when secretary of the Treasury Tim Geithner and chief economic advisor Lawrence Summers warned the president that Energy's vetting process was not stringent enough to weed out troubled applicants in advance.

Energy Secy. Steven Chu, who like Obama holds a Nobel Prize, was eager to push through applications by 30 companies for the program's $17 billion. He wanted even less oversight from Treasury.

The story has developed legs for two reasons:

One, it hints at possible high-level political favoritism using taxpayer dollars in risky ventures with well-connected business people, what some have labeled "crony capitalism."

And, two, it's a classic example of the fundamental ongoing D.C. debate over government's proper role in the economy and the financial dangers to taxpayer funds inherent when officials and bureaucrats, not free market forces, pick corporate winners and losers.

Pencil this into your calendar for future political debate throughout 2012.

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 --Andrew Malcolm

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Photos: Alex Brandon / Associated Press (Obama in 2010 during a visit to the now-shuttered Solyndra facility undergoing hearings on Capitol Hill); T.J. Kirkpatrick / Bloomberg (Summers).

A plaintive Obama on his job: 'I can’t do it alone'

An enormous gap has opened in the economic reality that most Americans inhabit and the one that their perpetually campaigning president perceives.

According to the RealClearPolitics average, nearly three-out-of-four Americans believe Barack Obama has lead the nation down the wrong track; barely one-in-five disagree.

Their gloomy perception has something to do with at least 9% unemployment for 26 of the last 28 months, with the 14 million unemployed and the 18.5 million underemployed and with the White House's own economic growth predictions revised downward.

According to the Gallup Poll, Democrat Obama's job approval is at its lowest 40% now, with a majority (52%) disapproving.

But the president sees himself as having made "a bunch of tough choices" since taking office. And as a result of his leadership, he says, "We were able to pull this economy out of a Great Depression."

Obama spoke to about five dozen supporters Monday evening. Each had paid more than $35,000 to gather with him in an eighth floor apartment on New York's Park Avenue.

The week after his party endured an embarrassing special House election loss just across the East River, Obama is in Manhattan again ostensibly to attend the United Nations General Assembly session.

But he and wife Michelle will each also squeeze Democratic fundraising into their otherwise impossible schedules.

"I could not be prouder of the choices we made," the president proclaimed about his tenure so far.

However, perhaps inadvertently, Obama also uttered a backhanded admission of failure. "Although we stabilized the economy," he said, "we’ve stabilized it at a level that’s just too high, in terms of unemployment and in terms of hardship all across America."

Shunning the role of assertive chief executive, the former state senator sounded a complaint about politics in Washington: "What has been clear over the last two and a half years is that we have not had a willing partner."

Obama said he and Republicans have "a fundamentally different vision about where America needs to go," vowing to put teachers and construction crews back to work on rebuilding America.

Predictably, Obama said, "You’re already hearing the moans and groans from the other side about how we are engaging in class warfare and we’re being too populist and this and that and the other -- all the usual scripts. I mean, it’s predictable, the news releases that come out from the other side."

But then in a plaintive closing moment, the 44th president told the group, "I can’t do it alone."

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-- Andrew Malcolm

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Photos: David Karp / Associated Press (the Obamas arrive in New York City for fundraisers and the UN session and a happy Obama).

How Jay Leno handled Michele Bachmann's appearance on his show

As usual, there was nothing confrontational about Jay Leno's interview with his political guest, in this case, Rep. Michele Bachmann (R-Minn.).

She was on the West Coast on Friday to speak in Orange County and at the state Republican Convention in L.A. and, who knows? Maybe to schmooze some money from the people who give California its Golden State name too. Watch out. President Obama is on his way to California too in a few days. Although, the story is, some Hollywood folks are kinda unhappy with him.

Bachmann's star soared last summer. She won the Ames Straw Poll, which means nothing in reality but sounds good in the media for a while. But that same day, Rick Perry entered the Republican presidential sweepstakes. He's a big-shot GOP governor from Texas and began sucking the air, the money and the media attention away from the only female in the contest so far.

Late-night American TV is a special breed. Some jokes. A little music. Some chatter. Maybe a movie starlet swears she got locked out of her Paris hotel room with nothing to wear but a hand towel. Nothing too complicated or controversial because regardless of the time zone, Americans are in their beds beginning to drift off to zzzzzz...

Not all Americans realize that these late-night interviews, especially with politicians, are ...

Weekly remarks: Obama says Congress must pass his jobs bill; GOP's Roskam hits 'red tape factory'

President Obama's weekly remarks, as provided by the White House

I’ve spent some time lately traveling the country and talking with folks outside of Washington.  And the number one issue for the people I meet is how we can get back to a place where we’re creating good, middle-class jobs that pay well and offer some security.

That’s the idea behind the American Jobs Act. It’s a jobs bill that does two simple things: put more people back to work, and more money back in the pockets of people who are working.

This jobs bill puts construction workers back to work rebuilding our roads and bridges and modernizing our schools.

This jobs bill puts teachers back in the classroom, and keeps cops and firefighters on our streets.

This jobs bill gives tax credits to companies that hire our veterans, because if you sign up to fight for our country, the last thing you should have to do is fight for a job when you come home. 

This jobs bill connects the long-term unemployed to temporary work to keep their skills sharp while they look for a job, and it gives hundreds of thousands of young people the hope of a job next summer.

This jobs bill cuts taxes for every small business owner in America. It cuts them even....

How to retire Dennis Kucinich or Marcy Kaptur: Put both Dems in the same Ohio district

Well, it looks like the new congressional redistricting will help Ohio get rid of at least one long-term Democratic representative in next year's House elections.

According to newly drawn district lines set to go to the Ohio Legislature any day, eight-term Rep. Dennis Kucinich of Cleveland and 15-term Rep. Marcy Kaptur of Toledo are both in the same new narrow district running along the southern Lake Erie shoreline. Both have announced their candidacies.

The Buckeye state is home to House Speaker John Boehner and is losing two of its current 18 House seats.

But it will remain a key Midwestern battleground state on the presidential level. No Republican has won the presidency in more than a century without capturing Ohio.

After losing the state's Democratic primary to Hillary Clinton in 2008 (53-45), Obama beat John McCain (52-47) in the state where the Arizonan introduced his VP running mate, Sarah Palin, to the nation. Obama has visited Ohio frequently as president, most recently this week.

However, since 2008, Republicans have fed off dissatisfaction with Obama and the state's economy to hold the old George Voinivich U.S. Senate seat (Rob Portman), and win control of the state Legislature (which controls redistricting) and the governor's office (John Kasich).

They also tipped control of the congressional delegation from 10 Democrats and eight Republicans to 13 Republicans and five Democrats.

For next year the GOP is targeting first-term incumbent Sen. Sherrod Brown, who easily won Mike DeWine's seat, 56-44, during the Democrats' congressional takeover of 2006. Next year, however, Democrats must defend 23 of the 33 Senate seats being contested nationally.

You could tell Kucinich was excited about the remapping. In an email fundraising appeal Wednesday, he used two exclamation marks in the first two sentences: "We have a district! The race is on!"

Without mentioning Kaptur, the House's longest-serving female Democrat, Kucinich celebrated the demise of his old Cleveland district and the slicing off of its Republican areas to buttress other GOP districts.

For her part, Kaptur said the pair shared no hard feelings over their upcoming struggle. "We are friends," she said. "This is hard for us."

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-- Andrew Malcolm

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Photos: Rick Osentoski / Associated Press (Kaptur); Harry Hamburg / Associated Press (Kucinich); OhioHistoryCentral.org (state flag).

What, Obama worry? New York House district elects first Republican since 1920

President Obama is taking his big airplane out of Dodge today, down to North Carolina.

And who can blame him for going the opposite direction from Gotham after this morning's special election results in New York 9?

There, as forecast here last week, a 70-year-old Republican businessman and political novice named Bob Turner whacked veteran Democrat David Weprin, 53-47, in a special election to replace Rep. Anthony "Look at My Junk" Weiner.

This kind of stunning upset in that area of Brooklyn and Queens happens like clockwork every 91 years. Whenever the approval of a disinterested Democratic president hovers in the mid-30s on a stagnant economy and he looks wishy-washy on rigid support for Israel.

Weprin had everything going for him in Archie Bunker's boroughs:

He's an Orthodox Jew in a district that's 40% Jewish running against a Catholic. He's a well-known political name with state legislative experience. He has the backing of big-time Dems including Chuckie Schumer, who used to represent the district and bequeathed it to his aide Weiner. This Obama guy carried the area by 11 points back in 2008. And Weprin's got a moustache.

What could possibly go wrong? Well, Weprin was off on the national debt by $10 trillion in one interview. But that presidential election win was 1,048 days ago. Obama's much better known now and that seems to work against him.

This White House has had its own agenda all along -- the healthcare heave, financial reforms. While all along polls told the Chicagoans that jobs and the economy are top priority.

If history repeats itself, this Obama crowd as it did after losing the Virginia governor's office and the New Jersey governor's office and Ted Kennedy's Senate seat in Massachusetts, will find fault with someone else, likely the candidate.

The wise Marc Ambinder hears it already.

Remember all the White House whispers about lousy campaigner Martha Coakley when she lost to Scott Brown despite (or perhaps because of?) a last-minute campaign day with Obama?

And then there were last November's midterms when voters tossed all those House Pelosi people who obeyed Obama's pleas to pass healthcare.

Those dozens of Democrats going under the bus turned out great for the president, however. With a Republican House the Democratic president has someone else to blame now when his belated jobs bill goes nowhere.

That's what he'll be touting in Raleigh-Durham today, his doomed $447 billion jobs program.

Good thing that Air Force One, like Southwest, doesn't charge for baggage because along on Obama's Southern trip is a new Bloomberg News Poll. It shows, among other gloomy tidings, that 33% approve of his economy job, 39% like his healthcare handling and 30% are pleased with his deficit doings.

Oh, and a majority don't think his new jobs program will get the job done.

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-- Andrew Malcolm

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Photos: Mary Altaffer / Associated Press (Republicans Bob and Peggy Turner celebrate his election to the House from New York's Ninth District early Wednesday); Craig Ruttle / Associated Press (Defeated Democrat David Weprin concedes).

Late-night jokes: Obama vows to double August's job growth of zero

As The Ticket's 73,000-plus Twitter followers and 7,200 Facebook friends/fans know, we regularly share our daily picks of the late-night jokes of interest, usually before broadcast each night. Feel free to pass this weekly collection on to friends using the "Share" buttons above.

Letterman: Wasn't Labor Day great, folks? Labor Day is now that time of year when Americans take three days off from looking for work.

Fallon: President Obama is refusing to give specifics about his jobs plan because he wants people to tune in on Thursday. That’s not how you handle the economy -– that’s how you handle the ‘American Idol’ results show. 'I have a plan that could put millions back to work. You’ll find out more…after the break.'

Leno: President Obama's jobs speech was tonight: A guy whose job nobody approves of giving a speech about jobs that don't exist to people who don't have any jobs.

Fallon: President Obama's $447-billion spending plan is called the American Jobs Act. It would have had a cooler name, but the name guy was laid off six months ago.

Leno: President Obama gives his big speech this week on job growth. How many of you think it will be a really short speech?

Leno: President Obama named his new $447-billion legislation the American Jobs Act. Better than the original name, the Save My Ass Act.

Letterman: Don't forget, folks, tomorrow is take your son or daughter with you to the Unemployment Office Day.

Leno: A new L.A. Times poll says 75% of Californians think the country is headed in the wrong direction. It's so bad that 60% of Californians are thinking about returning to Mexico.

Fallon: The Libyan rebels are claiming that they have Moammar Kadafi trapped within a 40-mile radius. Or as that’s also known, not trapped.

Letterman: Autumn's in the air. You can tell it's fall because that’s when the networks begin collecting nuts for their reality shows.

Leno: Government statistics show the U.S. economy created zero jobs in August. President Obama now says he's confident this month he can double that.

Conan: The L.A. Dodgers may be bought by Chinese investors. So, good news for America: Finally, something China is not going to win at!

Conan: Did you hear this? A new report says the U.S. Postal Service could go out of business this winter. On the bright side, the Post Office won't get that report in the mail for another two years.

Leno: The government says there are now 3 million fewer U.S. smokers than five years ago. Mainly due to a condition known as being dead.

Leno: The NFL season kicks off Thursday night right here on NBC. We are all very excited. The game will be on right after the season finale of President Obama.

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961 days in, Obama sick and tired of his own dawdling on job creation

President Obama's job approval is now lower than uncle's blood alcohol level

-- Andrew Malcolm

Don't forget to follow The Ticket via Twitter alerts of each new Ticket item. Or click this: @latimestot. Our Facebook Like page is over here. We're also available on Kindle. Use the ReTweet buttons above to share any item with family and friends.

Photo: Los Angeles Times illustration by Andrew Malcolm; Pete Souza / White House.

Obama jobs speech tops the NFL (but, then, it was only the Packers)

   

President Obama's speech Thursday on jobs to a joint session of Congress failed to outscore the TV ratings for his announcement of the killing of Osama bin Laden in May but did improve on his recent speeches on Libya and Iraq.

And his 4,102 words also outpaced the NFL kickoff that came right after them.

The speech -- which included 17 variations on a demand that Congress pass a jobs bill that hasn't been rendered into legislative text yet -- was carried live from 5-6 p.m. Pacific time on 11 channels: ABC, AZA, CBS, NBC, Telemundo, Univision, CNBC, CNN, FBN, FNC and MSNBC.

Among the cable newsers, Fox News did the best.

Here are the box scores from Nielsen Co. ...

        

Broken down by cable networks, Fox News came first with close to 3.4 million (826,000 in the target Adults 25-54 demographic); CNN second, with just north of 1.8 million (645,000 in A25-54); and MSNBC third, with just over 1.6 million (430,000 in the demo).

By way of contrast, the president's first address to a joint session of Congress on....

961 days in, Obama becomes sick and tired of someone dawdling about jobs

Speaking on behalf of millions of Americans who've grown angry and frustrated over the president's 32-month ineffective inactivity on the job creation front, President Obama on Thursday told members of Congress they really have to do something about the crummy employment situation -- and do it quickly.

Citing the plight of millions of struggling Americans whose wishes for jobs Obama ignored for most of the 961 days he's been in office while chasing shinier healthcare and financial reforms, Obama said it was time that Congress stop blaming others. He said it was time members take responsibility for their inaction and halt their phony partisan games and political circus acts that pervade Washington culture.

Because the Americans Obama hasn't been listening to are really hurting now. And -- who's....

Obama jobs speech to Congress: Providing 'a jolt to an economy that has stalled'

 

President Obama's remarks to a joint session of Congress, as provided by the White House

Mr. Speaker, Mr. Vice President, Members of Congress, and fellow Americans:

Tonight we meet at an urgent time for our country. We continue to face an economic crisis that has left millions of our neighbors jobless, and a political crisis that has made things worse. 

This past week, reporters have been asking, “What will this speech mean for the President?  What will it mean for Congress?  How will it affect their polls, and the next election?”

But the millions of Americans who are watching right now: They don’t care about politics. They have real life concerns. Many have spent months looking for work. Others are doing their best just to scrape by -- giving up nights out with the family to save on gas or make the mortgage, postponing retirement to send a kid to college. 

These men and women grew up with faith in an America where hard work and responsibility paid off.   They believed in a country where everyone gets a fair shake and does their fair share –- where....