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
- 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.