The failed solar company Solyndra, in which the federal government invested half a billion dollars of taxpayer money and put the taxpayers last, is just the beginning of President Obama’s green energy venture socialism.
Newly surfaced confidential documents show credit agency Standard and Poor’s considered Beacon Power — a now-bankrupt green energy storage company — a risky investment, even with the $43 million loan guarantee President Barack Obama’s Energy Department was planning to, and eventually did give the company.
The documents, first obtained by CBS News investigative correspondent Sharyl Attkisson, show how the Department of Energy’s (DOE) Jonathan Silver — the now-former loan guarantee program administrator – asked Standard and Poor’s to conduct a credit analysis prior to investing taxpayer money in Beacon Power.
Silver resigned in mid-October 2011 as congressional inquiries into the DOE loan guarantee program heated up following the loss of $528 million of taxpayer money to solar panel manufacturer Solyndra when it went bankrupt. Solyndra received the first-ever loan guarantee under the program, and was the first to go bankrupt. At least four more loan guarantee recipients have filed for bankruptcy in Solyndra’s wake, and other recipients have shown signs of financial weakness. (Read More)
In all there were 11 other companies in dire fiscal straights the Obama administration funded, even though they were aware of the companies’ problems. I guess it’s easy to make bad “investments” when it’s someone else’s money you’re investing. Good grief. And they say they can’t cut the budget.
Update: Linked by the First Street Journal, Sentry Journal and Doug Ross – thanks!
This is why capital venture companies like Bain are invaluable. These corporations throughy evaluate businesses like Solyndra to make sure that the company can sustain profits and help restructure the company to make sure that the investors receive a profitable return.
In the case of Obama and his inept profilers at DOE, they allowed their misconceptions of commerce to fly down the wrong pathway to destruction!
This is why socialism never works! Policy makers at the highest level of government make horrific decisions based on what the leader proposes! When the ideology is corrupt, the outcomes are equally corrupt.
Obama rushed to prove he knew what us best fir America, and once again proved that socialism is the worst possible solution, every time!
Thanks Obama for making promises that lead to failure!
I’m sure Solyndra is only the beginning of a stimulus gone wild!
This was a stimulus for greed, graft, and gullibility!
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Want to thank all of you, for your Powerfull stand against Oboma & His Corrupted political partners.
But there is so much more we can do. Being aggressive and focusing on the facts and truth is only the first step.
We musT follow Up with more details standing by our convictions and dont back down.
Oboma has NOT brought CHANGE, In fact ~! ~ THE ONLY real THING needing CHANGE !….Was Barack Hussein Obama II.
HIMSELF
Barack Hussein Obama II ( Who hates American Values ) who is A ” SELF PROCLAIMED Enemy” ~of responsible, Morally Conscious HARD WORKING Americans.
oBOMAS Irresponsible & DRUG MAFIA and reckless supporters KNOW~ that Barack Hussein Obama II, WILL FORCE YOU to paY THEM, out of your PockeT
.{ FOR all of their UNCHECKED Vices and THRILLS/ {
All on YOU | /
At your COST & Sacrifice
…This UN~CHANGABLE fraud, has done His VERY BEST to Inspire VIOLENCE.
THESE ARE OBAMAS OWN WORDS.. saying ………To his supporters.
Saying “Get ready for hand-to-hand combat with your Fellow Americans”
– Obama has ALSO DECLARED to his Supporters
“I want all Americans to get in each others faces!– Obama demands !
“You bring a knife to a fight pal, we’ll bring a gun” –
THESE ARE OBAMAS OWN WORDS.. ANGER VIOLENCE and more taxes….. THIS IS OBAMAS Change for america
/“Hit Back Twice As Hard”. He commands !
*Obama on the private sector: ~~ “We talk to these folks…~ / so
I know whose a*$ to KICK.“ OBOMA wants to KICK your a*$ / Shouting THAT Republican victory would mean ~ “hand to hand combat”
HE IS EXPECTING people to be on Edge and BORDERLINE killing MODE,
VIOLENT / and STAND up for their immoral CAUSES
THIS IS WHAT HE LIVES FOR ./ ./ ./ THESE ARE OBAMAS OWN WORDS.. !
* Obama Tells democrats: “ I’m itching for a fight.” !
….PLEASE…. go to reXes NEW WebsiTe ~ ! Oboma *( Just like Adolf Hitler~~\
oBOMA~~~ Demands ! — [ THE FINAL SOLUTION – for Un~Wanted Children
Barak Obama is A MURDERER .~Torturing UNWANTED babys on DEATH ROE
CLICK HERE http://obomlnation.webstarts.com/index.html
OBAMA TAKES a little NEW BORN innocent child.
BORN. ALIVE sTabS it iN the head SUCKs ITS BRAINS OUT.
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[...] The Lonely Conservative: Solyndra Just the Beginning of Obama’s Green Energy Venture Socialism [...]
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Solyndra: not the only one…
From The Lonely Conservative, who is, I suppose, still trying to type with a broken wrist: Obama’s Green Energy Venture Socialism January 14, 2012 By Lonely Conservative The failed solar company Solyndra, in which the federal government invested half a…
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