BOMBSHELL CBS REPORT: 11 More Solyndras In Obama Energy Program, 5 Going Bankrupt !!

EDITOR: This post originates at IronicSurrealism.com, an official blog of the Liberty News Network. UPDATE: Sign the Grassfire petition to call for a stop in Eco-Cronyism in the Obama administration!

“Venture [Crony] Capitalism with tax dollars”.

This is an outrage! Good money after bad.

“Every day that you build this expanded facility, as you fill orders for solar panels to ship around the world, you’re demonstrating that the promise of clean energy isn’t just an article of faith — not anymore.” ~ Obama Solyndra Fremont, CA. May 26, 2011

Obama’s energy department didn’t stop with the failed crony company Solyndra.  In total; the failing/failed ‘clean energy’ companies were collectively approved for $6.5 BILLION in federal (taxpayer) assistance.

Five have filed for bankruptcy. The junk bond rated Beacon Power, Evergreen Solar, Spectra Watt, AES (a subsidiary of ‘Eastern Energy) and of course Solyndra.

The others are not far behind; Nevada Geo Thermo (NGP) personally endorsed by Harry Reid, the recipient of  $98.5 MILLION in loan guarantees, warns of multiple potential defaults, Sun Power received a $1.5 BILLION loan guarantee after a French oil company took it over, now owes more than it is worth, First Solar (the biggest S&P 500 loser in 2011) even though the CEO was forced out, taxpayers were forced to pony up $3 BILLION in loans.

CONTINUED WITH VIDEO HERE …AT THE SOURCE

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8 comments
  1. RRStubbs said:

    This is peanuts compared to the windmills in Eastern Oregon. Thousands and thousands of windmills were installed. Billions and billions were spent by Obama. Not one of those windmills can generate enough electricity to offset the amount of electricity they consume. Each windmill has to be connected to the power grid to receive a consistent flow of electricity from the hydro dams to operate the computers and robotic mechanisms that constantly adjust the propellar blades to local wind conditions. If those adjustments are not made on a 24/7 basis the windmills could easily be destroyed.
    The benefactors of these windmills can buy electricity from the grid for $0.03 per kwh and resell that power to the poor dumb Californians for a marketed up price. Just think of the tax credits that GE received for these contraptions. No wonder GE didn’t pay any taxes.

  2. At least Barack Obama didn’t make a fortune from Solyndra or any of the other companies mentioned. Contrast Mitt Romney. Here are a couple of videos to watch:
    http://tinyurl.com/6msxds3
    King of Bain (by Gingrich PAC) “When Mitt Romney Came To Town”:
    http://tinyurl.com/72u2hbv
    Thanks, Newt. Wait until the Democratic National Committee finishes its research. There will probably be a sequel to King of Bain….Maybe “The Emperor’s New Clothes”?

    • Barack Obama collected millions of dollars in campaign support (and bundled support) from these people Robert …do you think it’s purely coincidence that the people who benefited from the actions of the Obama administration were ALL big supporters of his campaign? Even Ray Charles can see this.

    • Robert…Every single one of these companies where Obama socialized a their private debts gave millions of dollars to Obama’s campaign? Are you new?

      Mitt Romney actually has a resume filled with success stories to run on … how can that be a bad thing …he took sick companies and made them healthy and if he is the nominee he will take a sick country and heal it as well. Smart is as smart does and I am sorry but Obama isn’t a smart man …that was what we told but clearly wasn’t so.

      • Some of the companies Romney took over did well, but many went bankrupt. The bottom line is that in every case Romney and his cronies took their millions and ran. The guy was a corporate raider, plain and simple. Take your blinders off. Whether it’s Romney or Gingrich, these guys’ baggage trains run from Denver to the Kansas border. Somebody said Newt’s negatives are an all-you-can-eat buffet. Moreover, they both get
        flustered and off their talking points in debates. Romney looks like an extremely uncomfortable liar, e.g. when talking about his tax returns. Newt comes on like a junk-yard dog and then says something amazing stupid…out of the blue. Obama will tear these guys limb from limb in a debate. He doesn’t lose his cool, he’s superbly prepared and he has an amazing memory. He is also eloquent, as you may have noticed. Oh, and his campaign has actual substance and a wealth of practical ideas to offer. Be sure to watch the State of the Union on your computer, so you can see all the charts and graphs. It’s way to early to start doing a victory dance, but in all honesty, I think the GOP is toast.

      • Only 1 of those companies Romney took over closed their doors (ampad) and the reason they went down was due to a showdown with uncompromising labor unions. Labor unions have caused more job loss in this country than any other single entity except Obama. Mitt Romney has spent more than 20 years in private enterprise, making thousands of business decisions affecting hundreds of companies that led to more than 100,000 new jobs and billions of dollars for employees and investors. So you can see why the left despises him.

        Of course I will be watching the State of the Union but the very idea of putting my faith in anything he says or any charts and graphs he flashes on the screen would be first class nuttery! This man simply cannot tell the truth Robert when are you going to figure that out.

        Obama is articulate (but only with a teleprompter) but unless the debate is very controlled and very choreographed he will look as foolish as he does every time he has to think for himself. Remember when he introduced himself at a white house gathering by reading the other guys lines from his teleprompter …or all of the debates where hillary ran him through the chipper and he stood there tongue tied and helpless? Give me a break

      • You really hate and despise Barack Obama, don’t you, Cameron? In the Army, you are taught that the worst mistake you can make is underestimating your enemy. He is your enemy. You have made him your enemy. He is not the President to you and the Baggers….just some lying politician who got into office by deceiving the people. You loath everything he does. You give him no credit for the things he has achieved. If he is for it — even if it was originally a Republican idea — you are against it. You are utterly incapable of taking a balanced and objective view, because in real life, very few people are cartoon villains.

        Unfortunately for you and the GOP, there is an army of Barack Obamas out there. Better educated than the Baggers, willing to work long and hard to make sure that none of the horrendously unqualified clowns put up the the Repubs ever gets to be POTUS. Barack Obama is not just some poor, conniving nigger from Chicago. He is a very well-educated, sincere, well-intentioned and brilliant man. He is a refreshing source of sanity and moderation in the midst of the sea of comedy and stupidity unleashed upon us by the ranting Right. Romney just blew it, amazingly enough. Even the Republicans of South Carolina had a belly-full of his bullshit and endless shape-shifting. So they voted for Newt…one of the most ethically and morally challenged politicians ever. A loose cannon and a fountain of spontaneous stupidity. I was never active in politics until the 2008 election. After 8 years of George W. Bush, I was mad as hell. Now I really fear for the well-being of the country. The Republican Party is not a champion of Liberty…it is a wholly-owned subsidiary of the rich, the corporate oligarchs and ignorant red-necks who hate everyone who doesn’t look and think like they do. Wall Street with an army of yahoos.

        I don’t just rant on blogs, Cameron. I am actively working and organizing for Obama. I despise what the Republican party has become (I was once a young Republican) and I want to see it destroyed in its present form so that a conservative party with actual intellectual roots and sane policy choices can emerge from the ashes. I want to see a Democratic congress. I want to see the ridiculous Tea Party out of the House of Representatives. I want an end to the anti-Democratic filibuster rule, embraced by Senate Republicans because they can’t win a majority on the merits of their arguments.

        I am a really nice guy, if you were to meet me for a drink, or ask me to help you change your tire. I’m your fellow American. But the Republicans and the Tea Party really piss me off, and make me fear for the future of the country. Newt is right. This is a battle for the soul of America. Look at his soul, and look at his long and disgusting record. Vote for Newt or Mitt if you want, but take a long, hard look at what you’re buying.

        Ron Paul has, of course, absolutely no chance of winning the nomination or the election. Sorry.

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