The Author
EDITOR: This post originates at IronicSurrealism.com, an official blog of the Liberty News Network. UPDATE: Sign the Grassfire petition to call for a stop in Eco-Cronyism in the Obama administration!
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“Venture [Crony] Capitalism with tax dollars”.
This is an outrage! Good money after bad.
(Video below the fold)
- “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.
CBS News takes a look at 11 more Solyndras that were part of Obama’s Energy Program (January 13, 2012)
In related news:
Friday night doc dump: WH knew before Solyndra workers flew
(Hot Air) –Two months ago, Congressional investigators discovered that the Department of Energy urged the now-defunct Solyndra in late October 2010 to delay the announcement of hundreds of layoffs to just after the midterm elections. Last night, the Obama administration conducted a Friday-night document dump in a long-awaited response to a demand for documentation on communications related to Solyndra, and it turns out that the White House knew about the layoffs in advance, too:
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Something smells very badly. It’s clear that the Obama administration at some level used taxpayer funds as leverage to manipulate a private enterprise for purely electoral benefit to the President, and it seems clear that the direction to do this came from the White House.
Salt in the gaping taxpayer wound:
BANKRUPT Solyndra asks judge to pay out $500,000 in bonuses
(San Jose Mecury) –Solyndra, the Fremont solar panel company that laid off more than 1,000 workers upon declaring bankruptcy last summer, has reportedly requested to pay remaining employees up to $500,000 in bonuses.
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Senior executives at Solyndra collected hefty quarterly bonuses — ranging from $37,000 to $60,000 apiece, with some executives receiving both rounds of bonuses — within six months of the company’s closure last August, when about 1,100 workers were laid off without severance.
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Huh, and no mention of the GOP politicians who have lobbied for the same DoE loans in their own states using the same ‘green’ language? How weird is that.
Lets blast this to every outlet we can. Everyone needs to hear about this over and over again.
What the heck does awaiting moderaton suppose to mean?
What can you expect from crooks? We put them in office and then complain about them doing what they do best!! You got what you paid for!! Wait till the hoiuse of cards begins to fall – as it surely will!!
@mouse: links, videos, please.