Skip to comments.German Wind Farm Company Prokon Bankrupt
Posted on 01/30/2014 11:19:28 AM PST by brookwood
German politicians are vowing tougher laws to protect investors following the collapse of a wind farm company that exposed investors to potential losses of 1.4 billion ($1.9 billion). Chancellor Angela Merkel said Thursday that the government will strengthen securities rules after Prokon Regenerative Energien GmbH firm filed for insolvency potentially leaving losses for about 70,000 private investors. Ms. Merkel has campaigned ardently for tighter regulation of global markets since the 2008 financial crisis. But the collapse of Prokon shines a light on weaknesses in securities rules closer to home.
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Those investors should take the hit. They invested in a fad and got taken to the cleaners. No surprise whatsoever.
That’s awesome...a Government that protects private investors from losses on their risky investments.
Maybe we should do that here. Oh, wait...
The corruption of enviro companies knows no bounds.
Fools and their money.
Yeah, that's the ticket. It's the "securities rules". It has nothing to do with "wind power" being unworkable, inefficient and incapable of producing the kind of energy a nation the size of Germany actually needs. Yeah, we need to look at the "securities rules".
That’s the Social Market Economy for you. The libs here instituted a bloated version of that in place of our formerly free market.
I travel to Germany frequently. Windmills are everywhere out in the country. Ugly as hell. Many not turning. Locals I’ve talked to say many Germans are becoming more and more against them because of the visual blight and the fact that they are VERY noisy. And they kill birds.
I take it they're not the good old fashioned Dutch windmills.
Nope, same white ginormous ones we have here.
When I recently went to Holland, we took a tour inside an old Dutch windmill, they really were marvels of engineering.
Not just the libs. There were an awful lot of Republicans who wanted the bailouts of 2008.
Like I said, libs. We don’t have a Liberal Party here, at least as a major party.