“Venture [Crony] Capitalism with tax dollars”.
This is an outrage! Good money after bad.
"Every day that you build this expanded facility, as you fill orders for solar panels to ship around the world, you’re demonstrating that the promise of clean energy isn’t just an article of faith -- not anymore." ~ Obama Solyndra Fremont, CA. May 26, 2011
Obama’s energy department didn’t stop with the failed crony company Solyndra. In total; the failing/failed ‘clean energy’ companies were collectively approved for $6.5 BILLION in federal (taxpayer) assistance.
Five have filed for bankruptcy. The junk bond rated Beacon Power, Evergreen Solar, Spectra Watt, AES (a subsidiary of ‘Eastern Energy) and of course Solyndra.
The others are not far behind; Nevada Geo Thermo (NGP) personally endorsed by Harry Reid, the recipient of $98.5 MILLION in loan guarantees, warns of multiple potential defaults, Sun Power received a $1.5 BILLION loan guarantee after a French oil company took it over, now owes more than it is worth, First Solar (the biggest S&P 500 loser in 2011) even though the CEO was forced out, taxpayers were forced to pony up $3 BILLION in loans.
Read More at Ironic Surrealism
-- Political Pistachio Conservative News and Commentary
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