Archive of posts tagged solar company

Another Obama Green Energy Company Files for Bankruptcy After Receiving $43 Million Government Loan

Yet another one of the companies that Obama’s Energy Department gave $43 million in government-backed loans has filed for bankruptcy, sticking the American taxpayer with the bill.

Just as we have seen with Solyndra, Sun Power, and others, the Obama administration doesn’t worry about how much of our money is being wasted. They only care about how much money and support their wasteful and criminal spending will return to their re-election campaign.

The Obama administration’s inability to not waste money is becoming more than a problem, and we need to do everything in our power to stop the wasteful and most likely criminal abuse and waste of our tax dollars.

A Massachusetts company that received a $43 million Energy Department loan guarantee last year filed for bankruptcy Sunday, a step certain to fuel criticism of federal green energy financing in the wake of the solar company Solyndra’s collapse.

Beacon Power Corp., which develops energy storage systems, filed for bankruptcy protection in the U.S. Bankruptcy Court in Delaware.

Beacon Power had received a federal loan guarantee to help build an energy

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Obama’s New $1.2 Billion SunPower Loan Scandal – Twice As Big As Solyndra

Obama's New $1.2 Billion SunPower Loan Scandal - Twice as big as Solyndra

Obama's New $1.2 Billion SunPower Loan Scandal - Twice as big as Solyndra

The Obama administration gave another obviously failing California solar company $1.2 billion in federal loan guarantees, even though the company had only weeks earlier announced that they would be building a new manufacturing plant in Mexicali, Mexico to manufacturer the solar panels.

So much for American jobs, as well as so much for the billions of our tax dollars the Obama administration flushed down the toilet, as payouts to their friends and supporters.

The Obama administration – Corruption and Crony Capitalism at it’s finest.

How did a failing California solar company, buffeted by short sellers and shareholder lawsuits, receive a $1.2 billion federal loan guarantee for a photovoltaic electricity ranch project—three weeks after it announced it was building new manufacturing plant in Mexicali, Mexico, to build the panels for the project.

The company, SunPower (SPWR-NASDAQ), now carries $820 million in debt, an amount $20 million greater than its market capitalization. If SunPower was a bank, the feds would shut it down. Instead, it received a lifeline twice

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Obama’s Energy Department Ignored Treasury Warning on Legality of Solyndra Loan Restructuring

Obama Emanuel Chicagoland Solyndra Loan Restructuring Scandal

Obama Emanuel Chicagoland Solyndra Loan Restructuring Scandal

Before the Obama administration Energy Dept illegally restructured the Solyndra loan, to assure that Obama’s friends and supporters would be paid back BEFORE the U.S. Taxpayer, they were warned by Mary Miller, the assistant Treasury secretary, that doing so could be illegal, and urged Obama’s Energy Department to consult with the Justice Department before restructuring the Solyndra loan.

Obama and his Energy Department think that they are above the law though, and followed through with the restructuring anyway, without clearing the with the Justice Department.

We hope more info continues to come out, so that we can get to the bottom of how the $500 billion Solyndra loan deal, the loan restructuring, and also who in the Obama administration knew what and when. Unfortunately, most of the real damming evidence has probably already been destroyed by the Obama administration.

Either way, a Special Council should definitely be set up to investigate the Solyndra Scandal, and the corrupt Democrats who were involved, and who throw our money around to their friends, family, and supporters.…

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Crony Capitalism: Obama Fundraiser Pushed Administration for Solyndra Deal – And Won

Steven J. Spinner, a high-tech consultant and energy investor who raised at least $500,000 for Obama, pushed the Department of Energy to grant the $500 million loan to now bankrupt Solyndra.

Why is Obama and the Democrat party bowing down to their fundraisers at every opportunity?

Could it be because they know the Democrats are going to be in a world of hurt afte the 2012 elections, and want to keep the corrupt money flowing to their party? We think so.

An elite Obama fundraiser hired to help oversee the administration’s energy loan program pushed and prodded career Department of Energy officials to move faster in approving a loan guarantee for Solyndra, even as his wife’s law firm was representing the California solar company, according to internal emails made public late Friday.

“How hard is this? What is he waiting for?” wrote Steven J. Spinner, a high-tech consultant and energy investor who raised at least $500,000 for the candidate before being appointed to a key job helping oversee the energy loan guarantee program. “I have OVP [the Office of the

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