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.
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.
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.