Tuesday, April 3, 2012

Today's Most Appalling News

Another Obama Solar Company
Goes Bankrupt
...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...

1 comment:

Anonymous said...

What's more demented is that science teachers in Texas are having to teach the positives of wind turbines and negatives of "CON" (coal, oil, natural gas).
State mandated STAAR questions focus on pollution from oil and the cure-all alternative energies.
Kids today don't get the chance to see both sides unless its taught at home.
Students are taught that CON is non-renewable it is causing the polar bears to die.....and its expensive.
What we can't teach is that oil is available, court decisions make it expensive, and that the decidous trees in north America alone recycle the CO2 produced by all motor vehicles used in the world.
It's like North Korean propaganda. The kids don't have a chance to see the whole picture.