The company's abysmal finances showed it was set to go completely bankrupt by 9/11. And these onerous projections were known by all at the time Obama forced the loan through. It's not like Solyndra only recently began crumbling.
At his presidential photo-op at Solyndra in May, 2010 -- remember, when he lauded Solyndra as one of America's great green pioneers? -- Obama said, "the promise of clean energy isn’t just an article of faith."
Ah. So clean energy need not be taken on faith, just the ability of green companies -- who can't get money from the private market -- to repay government loans and stay fiscally solvent. Got it.
In any event, as predicted, like clockwork, Solyndra indeed went bankrupt this month. The creditors -- that would be you and me, dear -- are out half a billion bucks. You see, we're at the end of the line, behind Solyndra's investors. They get paid first. The Obama Administration saw to that. (Footnote: George Kaiser, a big Solyndra investor is . . . wait for it, a HUGE Obama contributor and fundraiser).
So can you blame a girl for being skeptical when we hear about all these "green" jobs Obama saved or created? And calls for us to spend more?
ABC did a little poking around in the green, and the news is not good. 80% of $2 billion in stimulus funds Congress appropriated for "green" jobs went overseas. I repeat: overseas. While "green" workers here at home were getting laid off or furloughed by American companies, American taxpayers poured millions of dollars into foreign companies. Thousands of jobs were created -- overseas.
For another happy example, take A-Power Energy Corp., a Chinese company. Shown below is its CEO (center), posing with union big-wig Leo Gerard (left) and Cappy McGarr. Cappy is an A-Power investor, of course, and a big Democratic contributor and money bundler for Obama.
A-Power got a cool $450 million of our "Competitive Recovery Act" funds. Really. It did. So get out of bed tomorrow with a spring in your step, and thank your husband for going to work, too.
Because we're all working to help Chinese companies compete against Americans. And that just makes good sense. As does raiding American manufacturers for suspected "green" violations, right?
Not surprisingly, on the subject of A-Power, the Obama Administration remains
Perhaps so many of our green dollars went to foreign or failing companies because of political ties to Obama. Then again -- or is it, better yet? -- maybe it's simply the fault of innocent, foolish government bureaucrats.
Pick your poison, girls. It's your money, after all.
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