...Taxpayers Lose $2 BILLION?
WILMINGTON, Del. — A California solar energy company that was unable to meet a deadline for an Energy Department loan guarantee last year has sought bankruptcy protection in Delaware.
Solar Trust of America’s Chapter 11 filing on Monday listed assets between $1 million and $10 million, and liabilities between $10 million and $50 million.
The filing comes amid the ongoing controversy surrounding Solyndra, a solar firm that received a half-billion dollar federal loan and was touted by the Obama administration before declaring bankruptcy last year. Fox Nation via AP
It took less than a year after we, (you and I, the taxpayer) funded $2 billion in loans to this company for it to go bankrupt. Since it has become painfully obvious our government does not possess the ability to help business, it should just butt out. Remarkably, I believe Joe Biden could do a better job!
I wonder how much cash this company contributed to the DNC and the Obama campaign...