Posted on 08/03/2012 5:10:45 AM PDT by SumProVita
In a little-noticed move, Solyndra LLC officially released it bankruptcy plan this week. The official word from it is that taxpayers will recover only $24 million of the about $527 million that the failed solar panel company drew from its $535 million federal loan guarantee, according to a report from Dow Jones newswire:
Documents filed Friday evening in a Delaware bankruptcy court say private equity firms, including one whose chief has ties to the Obama administration, will get back at least half of the $70 million they put into Solyndra early last year as the company battled for survival.
US taxpayers, on the other hand, won’t be so lucky:
(Excerpt) Read more at washingtonexaminer.com ...
We need a stronger word than simply "corruption" these days.
but it was just announced that after a lengthy investigation there is no connection to Obama or anyone else. WHO OK’D THE MONEY AND EXACTLY HOW WAS IT SPENT ? WHERE DID THAT MUCH MONEY GO SO FAST?
The money went to the obama campaign.
bet on it.
A textbook example of the crony capitalism that Washington thrives on.
When Obama, Reid, Pelosi, Boehner, McConnell, Hoyer and the rest of the career politicians are gone, we may just have a fighting chance to restore America.
Money and power corrupt!
I wonder how much the DNC and democRat election coffers “recovered” from this “loan”.
WHERE DID THAT MUCH MONEY GO SO FAST?
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Good question!
Take a look at the MONEY our elected officials have via this article posted by Ann Sorock at Professor Jacobson’s Legal Insurrection website:
http://legalinsurrection.com/2012/08/the-congressional-wealth-gap
Notice the difference between Democrats (who attack the “rich”) and Republicans in general. Many of our elected officials are rich...and some acquired that wealth honestly....but the rest...? Notice the time frame for the increase. Personally, I’d like to see exactly HOW Pelosi and Reid acquired all of their wealth.
Makes one wonder, doesn’t it? ;-/
Yah think Harry Reid will demand to see the tax returns of Solyndra’s executives?
Nah, didn’t think so
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