Oops again

California solar panel plant, touted by Obama just months ago as proof of the success of his “green’ job program, shuts its doors and goes bankrupt. They’ll be shifting operations to China, no doubt.

4 Comments

Filed under Uncategorized

4 responses to “Oops again

  1. networthdeclining

    CEO says in press release that “Regulatory and policy uncertainties in recent months created significant near-term excess supply and price erosion”.

    Hunh? Another example of unintended consequences of government intereference? Or was this company a pure creature of government support?

  2. Anonymous

    Read this earlier and thought of you. :)

    $535M in Fed. loans gone, it’s really amazing how quickly these firms go bust when the Fed money is gone. Shockingly, it seems that one of the principals behind the VC money at Solyndra is Obama bundler George Kaiser. /snark.

    From May: http://abcnews.go.com/Blotter/obama-administration-solyndra/story?id=13640783

    Great video at the link highlights another $512M loan to another Obama bundler, Steve Westly. Another story from Brian Ross covers the nearly $500M loan to Tesla and Obama supporter, Elon Musk (a different loan to SpaceX benefits Musk as well).

  3. Anonymous

    Also, the Center for Public Integrity reports that the loans to Solyndra were already being investigated by the House Committee on Energy and Commerce which has been stonewalled by the Obama Administration until recently.
    http://www.iwatchnews.org/2011/08/08/5590/impact-white-house-budget-office-turning-over-records-loan-politically-connected