What’s a few billion between friends?

80% of the $20.5 billion in Department off Energy (DOE) loans went to Obama’s donors (FOBs- Friends of Obama). But now, according to CBS, there are 11 more Solyndras that recieved mega-loans ($6.5 billion of that money that went to FOBs) and now have either declared bankruptcy or are about to.  Including:

  • Beacon Power – DOE committed 43 million dollars even after knowing they were rated CCC+ (not even a good junk bond, 70% chance of failing).
  • Evergreen Solar
  • SpectraWatt
  • AES
  • Sunpower – $1.2 billion loan guarantee last fall after French company took it over. Owed more than it is worth.
  • First Solar – $3 billion in loans

We are transforming into a country that functions like a banana republic.

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About drrik

3rd career and 2nd childhood. Spends spare time repairing old things. Aspires to burn more gasoline, gunpowder, and ink in pursuit of slowing down. Child of the 60s and aspiring student of history. No desire to see us repeat the failed social experiments that keep failing for lack of human beings that meet the left wing standards and have to be killed off. Did engineering long enough to realize that very little is new and the wheel does not need to be reinvented.
This entry was posted in constitutional, economy, election, Obama, socialism, Solyndra and tagged , , , . Bookmark the permalink.

3 Responses to What’s a few billion between friends?

  1. nationalatrophy says:

    Already are a banana republic. Obummer promised to change the way Washington does business. Bring Chicago-style thuggery in, it’s all he knows, and he has to go.

  2. thedrpete says:

    Sorry, drrik, but we have but few bananas and don’t know what a republic is. Most Americans think we’re a democracy.

  3. drrik says:

    Welcome back. Your musings have been missed. Most Americans know what we are, just use the wrong name for it. When the word is democracy, a government functioning as a representative republic is what they think of, not a lynch mob. Just like the word racist is used to mean prejudiced. They know what they mean, just not the denotation. Absolutely the fault of the mostly lib-prog controlled school system and the unions that protect the incompetent.

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