Solyndra

 

$20 billion in stimulus money to Green companies, leads to 3450 jobs, or about $5 million per job; considered a failure. 

 

Obama admin reworked Solyndra loan to favor donor

By MATTHEW DALY The Associated Press

WASHINGTON — The Obama administration restructured a half-billion dollar federal loan to a troubled solar energy company in such a way that private investors — including a fundraiser for President Barack Obama — moved ahead of taxpayers for repayment in case of a default, government records show.

FILE - In this Aug. 31, 2011, file photo, Solyndra workers leave Solyndra in Fremont, Calif. Newly released emails show that the Obama administration was worried about the financial health of a troubled solar energy company even as officials publicly declared the company in good shape. An email from a White House budget official to a co-worker discussed the likely effect of a default by Solyndra Inc. on President Barack Obama’s re-election campaign. (AP Photo/Paul Sakuma, File)

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Brophy | Sunday 18 September 2011 - 11:08 am | ΒΆ | Brophy Blog | One comment
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