Saturday, January 14, 2012

CBS News: 11 more Solyndras

Over $500 billion in federally guaranteed loans couldn't save Solyndra from going belly-up.

But CBS News has identified 11 more possible green failures, 11 firms that have either declared bankruptcy or are "suffering other serious financial issues."

And our omnipotent federal government knew that many of these companies were in financial trouble before they turned on the cash spigot for these basketcases.



One firm, Beacon Power, which received $43 million in taxpayer funds for a project that Standard & Poors gave a CCC+ rating. Of that rating, economist Peter Morici told CBS that it was "a junk bond, but it isn't even a good junk bond."

Beacon Power went bankrupt two months ago.

Technorati tags:

No comments: