Tag Archives: solyndra

Another “green” bankruptcy

“A123 Systems Inc. (AONE), the electric car battery maker that received a $249.1 million federal grant, filed for bankruptcy.”  Obama’s spent billions of taxpayer dollars on “green” companies that he believes will support him politically– and the result has been the Solyndra scandal and bankruptcy after bankruptcy.

Romney put it best during the first presidential debate: “don’t forget, you put $90 billion – like 50 years worth of breaks – into solar and wind, to Solyndra and Fisker and Tesla and Ener1. I mean, I had a friend who said, you don’t just pick the winners and losers; you pick the losers.”

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Solyndra Scandal

Obama spent $535 million of taxpayers’ money to fund a “green energy” company (Solyndra Inc.)– despite high-risk warnings from White House staffers– which went bankrupt 2 years later. Then, there was a cover-up of this scandal by the Obama Administration before the 2010 midterm election. It turns out that a big Obama donor played a pivotal role in securing federal financing for Solyndra, and that the same guy moved ahead of taxpayers in line for repayment when Solyndra defaulted.