Solar money pit – “Are these good investments or political favors?”

More solar companies led by Democratic donors received federal loan guarantees.

29 Sep 11 – (Excerpts) – “A Daily Caller investigation has found that in addition to the failed company Solyndra, at least four other solar panel manufacturing companies receiving in excess of $500 million in loan guarantees from the Obama administration employ executives or board members who have donated large sums of money to Democratic campaigns.

“These companies have suffered from declining stock prices despite their favored status in the White House. Yet as the end of the federal government’s fiscal year looms on Friday, a new series of loanscould be finalized amounting to more than nine times what taxpayers have already lost on the failed company Solyndra.

“Who was visiting the White House during this period of time?” Texas GOP Rep. Joe Barton asked when contacted by The DC. Barton is a former chairman of the House Energy and Commerce Committee. “Who were they talking to and what were they talking about? Are there more loans at risk of not being paid back? Are these good investments or political favors?”

“The American people just lost a half billion dollars and they deserve answers to these questions before more money is wasted. Until we know exactly what happened, I think we should slow down this loan program and take a closer look at each case.”

“It is becoming more clear with each revelation that warning signs were ignored in the Solyndra case,” Barton continued. “Yet in the next 48 hours — because of a deadline that can still be changed — the Department of Energy is going to hand out another $5 billion in loans.”

“Companies like First Solar, SolarReserve, SunPower Corporation and Abengoa SA have already, collectively, received billions in loans through Obama administration stimulus programs to build solar power plants in the southwestern United States.”

One individual, who reportedly cashed in $68.9 million of his company’s stock just last month, has donated $123,650, along with his wife, to the Democratic Party and Democratic candidates.

See entire article, which names names and gives dollar amounts:

6 thoughts on “Solar money pit – “Are these good investments or political favors?””

  1. Here in the UK, we have the same problem. Prime Minister David Cameron’s father-in-law is doing very nicely, thank you, from the building of Wind Farms on his land and the Deputy Prime Minister, Nick Cleg’s Spanish wife’s company is doing pretty well too. I don’t believe they have declared their interest to the House of Commons.

  2. Solargate and Climategate are all part of the vast socialist agenda that is being foisted upon the free people of Earth in order to complete the Progressive Agenda for global domination under a one world government (UNO) headed by elitists whose decisions will be unquestionable.

  3. Destroying a person’s belief system, once firmly established, is nearly impossible. The intellectual elitists, because of their high IQs, assume they are wise, that their ideas are supreme and must be implemented. High IQs are no guarantee against stupidity. Fiddlin

  4. It doesn’t surprise me considering how Obama throws billions of dollars at bankers including a half a trillion to the fed reserve bankers from social security. the only word to describe it is nomObama

  5. The answer to your question is yes to both. One complements the other. Democrat donors invest in a green scam. Then Obama inc. sends hundreds of millions in gov. backed ‘loans’ to the donors companies. This makes their operation a good investment, at least for a while. The owners keep the donations rolling in to the DNC, and Dem politicians. You scratch my back, I’ll scratch yours. The Great Circle O’inc style.

Comments are closed.