Oh the green economy is so good for us taxpayers. And based on the newest science it doesn't seem to really help the whole "climate change" thing since that is apparently cause by the sun.
Apparently the business model is to get a bunch of money, though government backed loan guarantees (tax dollars) and then go out of business. This is becoming an increasing pattern as more and more of these green companies shutter their doors. . . each one sticking us taxpayers with a whopping multi-million dollar tab!
http://www.nbcbayarea.com/news/local/Solyndra-Shutting-Down-128802718.html
Apparently the business model is to get a bunch of money, though government backed loan guarantees (tax dollars) and then go out of business. This is becoming an increasing pattern as more and more of these green companies shutter their doors. . . each one sticking us taxpayers with a whopping multi-million dollar tab!
http://www.nbcbayarea.com/news/local/Solyndra-Shutting-Down-128802718.html
Solyndra to Declare Bankruptcy
President Obama touted the facility only a year ago.
. . . Solyndra was touted by the Obama administration as a prime example of how green technology could deliver jobs. The President visited the facility in May of last year and said "it is just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. And you guys all represent that. "
The federal government offered $535 million in low cost loan guarantees from the Department of Energy. NBC Bay Area has contacted the White House asking for a statement.
Some Republicans have been very critical of the loans. "I am concerned that the DOE is providing loans and loan guarantees to firms that aren't capable of competing in the global market, even with government subsidies" Florida Congressman Cliff Stearns told the New York Times.