Current Events — HabitableZone

Current Events » in reply to Re: GSA Spending Scandal

I guess the "morality" depends on which party is dropping money down the rathole.

From Wikipedia:

On 20 March 2009 the United States Department of Energy made a "conditional commitment" to a $535 million loan guarantee to support Solyndra's construction of a commercial-scale manufacturing plant for its proprietary solar photovoltaic panels. The White House scheduled a press event for September 4 and federal reviewers gave final approval on September 2. After securing the loan guarantee, the Federal Financing Bank, a part of the Department of the Treasury, loaned Solyndra $527 million.

Solyndra also received a $25.1 million tax break from California's Alternative Energy and Advanced Transportation Financing Authority.

On 31 August 2011 Solyndra announced it was filing for Chapter 11 bankruptcy protection, laying off 1100 employees, and shutting down all operations and manufacturing, while providing no severance or paid vacation time it owed to its employees.

...On 23 February 2012 Associated Press reported, "A Delaware bankruptcy judge on Wednesday approved close to $370,000 in bonuses for 20 employees of Solyndra LLC, a solar panel manufacturer that received a half-billion dollar loan from the federal government before declaring bankruptcy." Solyndra, based in Fremont, Calif., had proposed awarding bonuses of up to $500,000 to as many as 21 employees.


Half a billion down the drain. And just look at those tax breaks and bonuses.

That's just one of several "alternative energy" fiascos going on right now.

Wait until they get to the bottom of what they're finding out about the "High Speed Rail" spending.

Nobody burns public money like Democrats do, although some Republicans have given it a damn good try.

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