Obama “green energy” bankruptcy of the day

July 3, 2012 09:31

Abound had borrowed about $70 million against these loan guarantees.  That would have bought a lot of health care for poor people, but the Obama Administration blew it on solar panel junk instead. – Human Events


By: John Hayward at Human Events


“Abound Solar Inc., a U.S. solar manufacturer that was awarded a $400 million U.S. loan guarantee, is closing its doors and filing for bankruptcy, according to the U.S. Energy Department.”


Obama himself promised that Abound’s Colorado plant would “produce millions of state-of-the-art solar panels each year” once fully operational.  That lasted for two years, and cost the American taxpayer millions, ..


Abound Solar had a heavy stench of Solyndra-style corruption about it.  It will come as no surprise to learn that the big Abound investors were also top Obama contributors and bundlers, accounting for “$475,599 to federal Democrat candidates and causes over the 2008 to 2012 election cycles,” according to the National Legal and Policy Center.  That includes $11,900 to Obama’s presidential campaigns, and $87,500 in bundled contributions to his inaugural committee.


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