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As many as 50 Obama-backed
green energy companies
bankrupt or troubled

Daily Caller, by Michael Bastasch

Original Article

Posted By:Photoonist, 10/30/2012 10:36:32 PM

The October bankruptcy of solar company Satcon Technology Corp. puts the number of bankrupt or troubled green energy companies as high as 50, according to one estimate. During the first presidential debate, Republican candidate Mitt Romney said the Obama administration had doled out $90 billion to green energy companies, half of which he said had failed, which sparked a media-wide debate over the accuracy of the claim. (Snip) Of the 33 companies that received 1705 loan guarantees, only three have declared bankruptcy. However, when other subsidies, outside of the 1705 loan guarantees are factored in, the number of government-backed green

Comments:
$80 or $90 billion given away and how much gone to companies that are gone or going under? If you can't count the failed companies because of the deliberate confusion somewhere someone must have accounted and signed for the money that went out and disappeared forever down some sewer. If it comes out being $8 billion dollars how is that acceptable?

      


Post Reply  

Reply 1 - Posted by: lylacat, 10/30/2012 10:45:59 PM     (No. 8975878)

Like Romney said, "0bama does not pick winners and losers, 0bama only picks the losers." 0bama is a dismal failure; he has ruined the American economy, his foreign policy is a wretched disaster, and all his policies are set up to KILL jobs in America. Time for change.

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Reply 2 - Posted by: bubber, 10/30/2012 10:47:08 PM     (No. 8975881)

Yeah...well...wow...who knew???...

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R-G1
  
R-VAR_AD


 
Reply 3 - Posted by: usingthebean, 10/30/2012 10:57:12 PM     (No. 8975903)

They say a blind squirrel finds a nut once in a while. Do you still think the pResident did these investments happenstance. This is a deliberate attempt to funnel money to his cronys. There's the hope and change he was looking for! Now start charging the management of these failed enterprises for fraud.

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Reply 4 - Posted by: mercedesops, 10/30/2012 11:12:48 PM     (No. 8975928)

Imagine how better off the East Coast would be now if Obama had spent all those billions on infrastructure improvements instead of wasting it on crony capitalism.

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Reply 5 - Posted by: oh-heck, 10/30/2012 11:19:29 PM     (No. 8975933)

Obama whines and moans about needing to raise taxes on the rich. Yet he lost more taxpayer money to bankrupt green energy companies than he would get from increasing the tax rate for the top bracket. Tax cuts for the top bracket have always resulted in higher revenue for the government because they stimulate economic growth. Conversely, increasing the top tax rate always produces far less revenue than expected. In fact, because the government always spends the money before it comes in, the hole gets even deeper.

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Reply 6 - Posted by: Kurto, 10/30/2012 11:32:03 PM     (No. 8975949)

Two 0bama truths are in play here.

1. 0bama only picks losers.

2. Everything 0bama touches turns into debt.

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Reply 7 - Posted by: SoCalGal, 10/30/2012 11:35:44 PM     (No. 8975955)

BrightSource Energy (accident-prone former Commerce Secretary John Bryson's baby which, after his lobbying Obama, received a $1.6 billion loan guaranty) is on both lists. The second list - that of the Senate Republican Policy Committee - lists it as "Distressed".

Darrell Issa and the House Oversight Committee were on its and Bryson's tail when Bryson had his double hit and run in Rosemead, CA, and retired. Since then Issa and his committee have been pretty busy with other issues like Benghazi.

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Reply 8 - Posted by: BaseballFan, 10/30/2012 11:50:52 PM     (No. 8975970)

Yeah, but the cronies are well paid!
And the return on Obama's investment (campaign cash) was all worth it, don't you think?

/ s off/

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Reply 9 - Posted by: Trigger2, 10/31/2012 5:20:08 AM     (No. 8976107)

I wonder how much was pocketed of those taxpayer billions handed to cronies? Apparently, they don't pay their fair share.

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Reply 10 - Posted by: pineledger, 10/31/2012 7:54:44 AM     (No. 8976269)

I daresay, Bain can pick them better than this.

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Reply 11 - Posted by: Starlady, 10/31/2012 8:19:25 AM     (No. 8976309)

Steve doody on Fox and Friens just commented that had all the money lost on green projects been spent on updating the electric grid and burying the lines we would be in a much better place as a country. And many of the victims of this storm and other storms would not be without electricity for such an extended period negatiively effecting our economy through productivity lost.

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Reply 12 - Posted by: LZK, 10/31/2012 8:38:50 AM     (No. 8976353)

AND -- the chickens are coming home to roooooooost.!!

Sorry for the obvious smack down....

LZK

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B-G1


 
Reply 13 - Posted by: Rinktum, 10/31/2012 9:11:09 AM     (No. 8976423)

Great point #11. However, I am sure that suggestion was never made to Obama. However, it should be a priority in the future. This country needs real fiscal watchdogs to ensure that tax money is not wasted. Whatever we have in place is evidently not working. I know I would feel better knowing there were actually people in Washington who cared about wasteful spending.

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Reply 14 - Posted by: Illinois Resident, 10/31/2012 9:21:41 AM     (No. 8976445)

Great point #4! I wonder how long it would take to repair a damaged wind turbine and get it operational to supply power? hmm How much would it cost?

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Reply 15 - Posted by: stablemoney, 10/31/2012 9:41:51 AM     (No. 8976493)

$90 billion that evaporated into liberal pockets. How do all these liberals get rich. Now you know.

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Reply 16 - Posted by: mickturn, 10/31/2012 10:32:13 AM     (No. 8976624)

All this 'green' stuff from the getgo has been a total SCAM, as in SoCiAlisM!

The only thing green about any of it is the money the Libs stole from America to pad their friends pockets and get kickbacks. Look at the way they run things, it's all about funneling money from the taxpayer to their friends pockets with the guarantee of kickbacks so they can get reelected. The loser part is guaranteed as there is no intention to build products, it's the fraud part of all of this. Then WHEN they go bankrupt it's because the scam has run it's course and people start to notice...time to start up another scam and keep the feeding frenzy going. All of these Libs need to be put in prison for Theft and Treason and left there until they rot!

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Reply 17 - Posted by: snowoutlaw, 10/31/2012 10:48:10 AM     (No. 8976675)

Would be a lot easier to just count those that are doing good.

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R_DBL_B
  


 
Reply 18 - Posted by: RancherJack, 10/31/2012 10:52:34 AM     (No. 8976689)

Redistribution used to be called robbing the bank.

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Reply 19 - Posted by: radrelic, 10/31/2012 12:48:03 PM     (No. 8977016)

LOL, how great the posts today on this thread. Belly laugh for post #18.



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Reply 20 - Posted by: john56, 10/31/2012 1:19:25 PM     (No. 8977099)

It would be interesting to learn how many of those "50 Obama-backed green energy companies" were aided, run, or steered to free Obama money (ie taxpayer money) by Obama bundlers, donors, union goons or other
liberal hanger-ons.



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Reply 21 - Posted by: Dodge Boy, 10/31/2012 7:53:08 PM     (No. 8978035)

They really should call them red energy companies because the balance sheets of all 50-some companies bled lots of the cash that was given to them.

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Reply 22 - Posted by: mercedesops, 10/31/2012 11:37:41 PM     (No. 8978505)

Those billion could have been better spent building up the infrastructure in the flood devastated areas

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