Solar company bankrupt despite 'win-win' DOE loan

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/solar-company-bankrupt-despite-win-win-doe-loan/459621 ^

[keypro]

In keeping with the recent trend of so-called green companies going into the red, another solar energy company supported by President Obama's top administration officials declared bankruptcy today.

[EagleUSA]

More laundered taxpayer money.

[keypro]

Solar Trust for America received $2.1 billion in conditional loan guarantees from the Department of Energy — “the largest amount ever offered to a solar project,” according to Energy Secretary Steven Chu — for a project near Blythe, Calif., but declared bankruptcy within a year. It is unclear how much of the guarantee, if any, was actually awarded.

[Graewoulf]

In the book “Left Behind,“ a snake-oil salesman named Carpathian brings the World to ruin.

Dictator Baby-Doc Barack is our Carpathian as he tries to bring America to ruin.

[going hot]

This is getting rather blatant. Sumbritches should at least have the decency to go through the motions of running a business for a couple of years before throwing in the towel.

if for no other reason, than to show a little faith with the clowns who voted this regime in.

Pretty soon, they will just have a facade of a front office, rented in a building downtown, where the govt can send the gauranteed money.

Used to call them money drops.

[TexasFreeper2009]

when are people going to figure out that Solar just doesn't work.

It's costs a massive amount on the front end. Then maintenance and repairs will eat up any potential to ever break even, and unless you spend a massive amount of time cleaning them their efficiency drops dramatically.

[TexasFreeper2009]

think off all the billions.. scratch that trillions Obama has wasted.. now think about this. I live in a medium size city of about 100,000 people. The city leaders wet dream is to rebuild the downtown area over the next 10 years with ONE billion dollars in private investment. ONE billion to rebuild the entire downtown a city of 100,000 people. 1 trillion = 1,000 billion which means for every 1 trillion Obama has wasted ... he could have rebuilt the downtown's of 1,000 American cities to a dream level! that is how much money Obama has wasted.

[LucianOfSamasota]

Referring to Solyndra, he lamented that "one company's bankruptcy has cast doubt on the credibility of a government program that is otherwise being administered with incredible efficiency." Incredible efficiency. Hard to believe that anyone capable of succeeding in the private sector would be impressed by government efficiency. What's incredible is how these thieves close ranks against any attempt to slow the corruption.

[going hot]

He is/was not trying to build anything.

It is all about diverting large chunks of cash, and laundering them, for distribution to fellow enemies of the state.

[goodnesswins]

Oh, “solar” is working JUST FINE....for MONEY LAUNDERING!

[Ruy Dias de Bivar]

Meanwhile, in Ft Smith, Arkansas, the Mitsubishi company has decided not to open their new built Wind Turbine plant due to market conditions. No one wants their product.