Beam me to Planet Gore !
Posted on 10/11/2011 9:29:11 PM PDT by Lmo56
Congressman's Son Lobbied For Failing Solar Panel Company
How did a failing California solar company, buffeted by short sellers and shareholder lawsuits, receive a $1.2 billion federal loan guarantee for a photovoltaic electricity ranch project—three weeks after it announced it was building new manufacturing plant in Mexicali, Mexico, to build the panels for the project.
The company, SunPower (SPWR-NASDAQ), now carries $820 million in debt, an amount $20 million greater than its market capitalization. If SunPower was a bank, the feds would shut it down. Instead, it received a lifeline twice the size of the money sent down the Solyndra drain.
(Excerpt) Read more at humanevents.com ...
Manufacturing the panels in Mexico - AND PROBABLY hiring illegals to man the squeegees ...
Is there any proof Solyndra has been bad for Obama? It’ already been forgotten.
I wonder if this one is “Bush’s Fault!” too? lol
Twice as bad? Ha! I seriously doubt there is anything - anything hussein and his cohorts in crime have touched that isn’t corrupt, illegal, and tainted in oh so many ways. We’re just seeing the tip of the proverbial iceberg here. Every single one of them belongs in jail for the rest of their lives.
keyboard spew alert
The short selling numbers are influenced in this case by the fact they have derivatives (convertible bonds)which are shorted against as a normal course of action. Its rather difficult to get a real number (actual out and out short) due to that.
Impeachment.
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