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Solyndra Is Just One Example Of Loan-Guarantee Failure
ATR ^ | 2011-10-31 | Marshall Bornemann

Posted on 10/31/2011 9:36:58 AM PDT by 92nina

It’s hard to know what’s worse: Obama’s demolishing Solyndra or Biden’s praising the DOE for another pointless loan guarantee. As it becomes more apparent that loan guarantees are just another way to spend taxpayer money without being termed as pork, taxpayers are becoming more suspicious of how the green energy money has been spent. They should be. We all know Solyndra is one of the largest mistakes in the current administration’s history. The disappointments go beyond Solyndra. The emerging image of the loan program is making it seem like a never-ending tax-and-spend spree. Given Solyndra’s stance as a major player in the renewable energy market, people are right to assume that, if one comes down, others must follow, too. Some of our nation’s largest green energy companies could be at risk for failing, while adding uncertainty about the current economy. Darling, Coskata, Comverge and Echelon, just to name a few loan-guarantee recipients, might not be any better at producing green products than Solydra was. The biggest, and latest disappointment, however, is DOE’s allocating $527 million to Finland based Fisker-Karma. Where there are more energy companies, there’s a greater chance for failure. Fisker Karma showcases our government’s inability to calculate its own finances, and the detriment it may pose to taxpayers disinterested in the issue already. Outsourcing will most likely become more common, as the latest wave of loan guarantees to be injected into solar companies has only made things worse. Fisker Karma creates jobs, no doubt, but these jobs were all overseas. The government needs to stop making promises, only to break them when it comes to beneficial energy projects. These company mishaps need to be addressed by the taxpayer for once, instead of by a government seemingly determined to create the same mistake again.

Read more: http://www.atr.org/solyndra-one-example-loan-guarantee-failure-a6562#ixzz1cNTQ5WKM


TOPICS: Business/Economy; Government; Politics; Society
KEYWORDS: bho44; fail; fraud; obama
Many companies may fail, forcing even more taxpayer dollars to be wasted on programs that don’t benefit our economy.

Take this article and others I found to the fight to the Libs on their own turf; put the Left on the defensive at Digg and at Reddit and in Stumbleupon and Delicious

1 posted on 10/31/2011 9:37:05 AM PDT by 92nina
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To: 92nina

Somewhere I read Severstal Loan would outweigh Solyndra’s loan. Clueless as to what Severstal even is, anyone know?


2 posted on 10/31/2011 10:33:13 AM PDT by kactus
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To: kactus

Severstal is steel making in Detroit...

http://energy.gov/articles/department-energy-offers-severstal-dearborn-llc-730-million-conditional-loan-commitment

http://spind.steelguru.com/news/index/2011/10/28/Mjk5NTY%3D/Lawmakers_question_Energy_Department_loan_for_Severstal_NA.html

It’s previous name was Rouge Steel I believe...


3 posted on 10/31/2011 11:04:10 AM PDT by az_gila
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