Obama’s public-equity record is the real scandal
Obama has invested billions of taxpayer dollars in private businesses, …. bankruptcies, layoffs, criminal investigations and taxpayers on the hook for billions. – Washington Post
By Marc A. Thiessen at Washington Post
Consider just a few examples of Obama’s public equity failures:
● Raser Technologies. […] $33 million taxpayer-funded grant … company filed for bankruptcy protection in 2012. …
● ECOtality. [..] $126.2 million in taxpayer money […] company has since incurred more than $45 million in losses …
● Nevada Geothermal Power (NGP). […] $98.5 million taxpayer loan guarantee in 2010. […] company is in “financial turmoil” …
● First Solar. [..] more than $3 billion in loan guarantees [ .. ] after reporting $401 million in restructuring costs tied to firing 30 percent of its workforce.”
● Abound Solar, Inc. [ .. ] $400 million loan guarantee to [ .. ] company halted production and laid off 180 employees.
● Beacon Power. [ .. ] $43 million loan guarantee. [ .. ] Beacon received a delisting notice from Nasdaq and filed for bankruptcy.
… SunPower got a $1.2 billion loan guarantee … Brightsource got a $1.6 billion loan guarantee … Solyndra …. $535 million in taxpayer-funded loan guarantees and went bankrupt, …
… fully 71 percent [] went to “individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party.”
FULL ARTICLE
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