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January 13, 2012

Solyndra Nation: $6.5 Billion of Your Money Now In "Risky" Energy Companies

By the way, this is Sharryl Atkinson reporting, the only reporter on the Fast and Furious case in the whole MSM.

So here she is again. Reporting another good story which CBS only puts on its website, and will never mention in its main operation of televised news. (Correction: She did get on the early show to do a broadcast segment on this; the video is right in the link.)

Anyway.

CBS News counted 12 clean energy companies that are having trouble after collectively being approved for more than $6.5 billion in federal assistance. Five have filed for bankruptcy: The junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES' subsidiary Eastern Energy and Solyndra.

Others are also struggling with potential problems.

I can't quote the whole thing. But here's a sum-up:

Economist Morici says even somebody as smart as Secretary Chu -- an award-winning scientist -- shouldn't be playing "venture capitalist" with tax dollars. "Tasking a Nobel Prize mathematician to make investments for the U.S. government is like asking the manager of the New York Yankees to be general in charge of America's troops in Afghanistan," Morici said. "It's that absurd."

Read the whole thing. It's short.

Vulture Socialism

Selling Magic Beans to a nation in desperate need for real solutions, and promising them that one day those Magic Beans will sprout mighty stalks.

Oh, and if you're worried that you're losing money on this exchange: Don't worry, Obama's cronies are doin' just swell.

Again, via @williamamos


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posted by Ace at 03:49 PM

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