When the Solyndra debacle first became public, folks wondered how the Obama administration could put over half abillion dollars into a company that went bankrupt in a short time after getting those funds. Things were murky at first, and it looked like what had happened was some very poor administration of a program designed to help the USA support its green energy companies. That is all now changing. It seems more and more likely that the green energy program is corrupt. Those getting funds seem to be the friends, family and benefactors of prominent Democrats. Connections are more important than prospects for job creation. Here are just a few key facts:
1)Nine months ago, president Obama was warned that Solyndra was in extremely shaky condition and unlikely to survive. It was made clear that if the government pulled the plug on the Solyndra funding, the taxpayers could probably save about a third of the half billion dollars set aside for that company. The Obamacrats decided not to stop the funding for Solyndra, but rather to subordinate federal money to that of private investors. In that way, the private investors (who happened to include major Obama donors) got their money back while the taxpayers lost 100% of the half billion advanced to Solyndra.
2)The Obamacrats just advanced new money to a project for a solar plant based upon molten salt technology. Hundreds of million of dollars are going to this plant which just happens to have a member of the Pelosi family as a major backer. And, as if this were not enough, the principal Obama donor who had put money into Solyndra is also a key player in this investment.
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