Good News: “Green Energy” Firm Obama Touted And Lent $535 Million In Taxpayer Money To Files For Bankruptcy…
Crony capitalism.
(NBC News) — President Obama faces political catastrophe in the form of Solyndra — a San Francisco Bay area solar company that he touted as a gleaming example of green technology. It has announced it will declare Chapter 11 bankruptcy. More than 1,100 people will lose their jobs.
During a visit to the Fremont facility in spring of 2010, the President said the factory “is just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. ”
It’s not his statements the administration will regret; it’s the loan guarantees. The President was celebrating $535 million in federal promises from the Department of Energy to the solar startup. The administration didn’t do its due diligence, says the Government Accountability Office. “There’s a consequence if you don’t follow a rigorous process that’s transparent,” Franklin Rusco of GAO told the website iWatch News.
The President touted the federally back money as a way to create jobs. The President’s opponents immediately jumped on the deal as Solyndra made its first layoffs.
Posted by ZIP on Wednesday, August 31, 2011, at 2:27 pm | 
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How many of his little pet green firms have tanked? Several in the past few weeks. I bet Barry got his kick back contribution before they went under.
nothing but a money laundering scheme for obama and the demonicrats.
This closure was a big deal in my area today. People showed up to work at Solyndra and WITHOUT WARNING were told to pick up their things and leave. These people awoke this morning thinking they had jobs and by noon were standing in lines at the unemployment office.
This is barry’s green economy! There will be lot more “sudden and unexpected” job losses.
Spain has learned the hard way what this marxist is trying to shove down America’s throat.
Millions poured down the drain of green insanity and a obama flop happening
“Here touch my finger….I’ll turn you and your company into a pile of shit quicker than you can say…..Oh my….he is the chosen one……….”
BTW I bet you GE has plans for anything this company did to be now done in China……….I’m sure Joe Biden had it on his list of things to offer China on behalf of the WON…………scorched earth policy in effect
I wonder if Van Jones and his (green) money laundering organizations had anything to do with this?
Obama should personally get the bill for the $535 million. This should keep Bill Ayers busy for the next 30 years churning out book after book.
Of course O will tell us about these green energy fiascos in his
“Oration to the Nation”, which pre-empts the long scheduled
Pub debate from the Reagan Library. Of course.
Katherine says:
Obama should personally get the bill for the $535 million. This should keep Bill Ayers busy for the next 30 years churning out book after book.
“You at Solyndra are leading the way.” to bankruptcy!
My oh my. Is there any money left in the treasury? Blackbird’s flag must be flying over the WH. Figured out why the Moose is so mad all the time. She just woke up to the fact that the treasury is empty.
Hahhahahahahhaha— Suckers!!
OsamaHusseinIslamObama 2012′ (WTF)
(the terrorist-Uighur-ACORN-media choice)
-It’s never too early to campaign-
Maybe Issa can add this debacle to the long list of items to
investigate concerning this illegal regime.
Wonder how much went to increasing Pelosi’s net worth…..
0bama’s “green jobs” means picking up trash on the roadside with a pointy stick. But as an SEIU member, you’ll be well paid.
Now the government will take it over, ship it to China and you will see their product popping up in Dollar Stores nationwide by Christmas. Brilliant!
Well, look at the good side: at least we won’t be flushing any more money down that green, low volume toilet anymore. ;^) Unfortunately, there are plenty more. :^(
0BAMA’s Business Plan………..
TAKE as much government money as you can……….as fast as you can………
SPEND said government money as fast as you can………
FILE for bankruptcy as fast as you can…….
LAUGH all the way to the exits.
Deval Patrick allowed jobs to go to China and gave away tax payer dollars to another failed green company.
Evergreen Solar Inc., which received $58 million in state aid to open a factory in 2008 at the former military base in Devens, announced today it would shut the plant and let go 800 workers by the end of this quarter. The solar-panel plant is a cornerstone of Governor Deval Patrick’s efforts to make Massachusetts a hub for the emerging clean-energy industry…
I Love Allan West!
Can somebody at that company post a detailed accounting of where
the money went? There has to be a file or two from Accounts Payable
someplace, perhaps a backup copy on the net someplace, a vital records
storage company.. Someone needs to start the investigation asap.
One word of advice: ‘Stealth’.
Let’s resurrect Charles Henri Sanson, he’ll know what to do.
History making! The Most Expensive Photo-Op in History.
So is this Hope? Or is this Change? If there is any justice in the world, every one of those people just laid off had previously voted for the JEF. Every day, the layoffs prove Obama is The Food Stamp president.
The factory opened in September 2010! Could not even make it an entire year. Obama is the grim reaper of buisness
Yes, okay, uh-huh.
So what happened to that $535M?
Article over at American Thinker indicated a big OK billionair George Kaiser was a bundler contributor to obummers campaign and also a big investor in the failed company.
Follow the Money, always leads to the real motivation behind the crap green warming scams.
Good News: “Green Energy” [Firm (?)] Obama Touted And Lent $535 Million In Taxpayer Money To Files For Bankruptcy…
Was this company unionized?