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> Ping.
The SolarCity news comes after a tough spell for the industry, with solar companies Solyndra and Evergreen going belly-up in the last couple of weeks.
The Energy Department also backed Solyndra, and the 0bama administration has been taking heat for both that bad loan and for focusing too heavily on green jobs that some say haven’t panned out.
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How did Solyndra get a sweetheart interest rate?
ABC News discovered that the solar-tech firm Solyndra got unusually low interest rates on its federally-guaranteed loans before it collapsed last month, sending 1000 workers to the unemployment line in California.
Other green-tech firms receiving loans paid as much as three and four times the interest rate Solyndra secured for its $535 million from Barack 0bama’s 2009 stimulus bill from the Treasury’s Federal Financing Bank. ABC notes that other green-tech firms didn’t have the connections that Solyndra had to 0bama (payoff under the table?)
More at Link:
http://hotair.com/archives/2011/09/07/how-did-solyndra-get-a-sweetheart-interest-rate/
One after another they go bankrupt and refinanced. There was a solar rage back in the early 70s around here.
Obviously Obama doesn’t give a damn that it’s a major fail; he’s just giving payoffs and weaving webs.