combat_mage_sc
Title: Hi. My name is Combat and i'm an alcoholic.
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Obama’s crony capitalism will end up costing American taxpayers billions of dollars.
(CBS News) WASHINGTON - Solar panel maker Solyndra received a $528 million Energy Department loan in 2009 - and went bankrupt last year. The government's risky investment strategy didn't stop there, as a CBS News investigation has uncovered a pattern of cases of the government pouring your tax dollars into clean energy.
Take Beacon Power -- a green energy storage company. We were surprised to learn exactly what the Energy Department knew before committing $43 million of your tax dollars.
Documents obtained by CBS News show Standard and Poor's had confidentially given the project a dismal outlook of "CCC-plus."
Read the documents
Asked whether he'd put his personal money into Beacon, economist Peter Morici replied, "Not on purpose."
"It's, it is a junk bond," Morici said. "But it's not even a good junk bond. It's well below investment grade."
Was the Energy Department investing tax dollars in something that's not even a good junk bond? Morici says yes.
"This level of bond has about a 70 percent chance of failing in the long term," he said.
In fact, Beacon did go bankrupt two months ago and it's unclear whether taxpayers will get all their money back. And the feds made other loans when public documents indicate they should have known they could be throwing good money after bad.
It's been four months since the FBI raided bankrupt Solyndra. It received a half-billion in tax dollars and became a political lightning rod, with Republicans claiming it was a politically motivated investment.
CBS News counted 12 clean energy companies that are having trouble after collectively being approved for more than $6.5 billion in federal assistance. Five have filed for bankruptcy: The junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES' subsidiary Eastern Energy and Solyndra.
Others are also struggling with potential problems. Nevada Geothermal -- a home state project personally endorsed by Senate Majority Leader Harry Reid -- warns of multiple potential defaults in new SEC filings reviewed by CBS News. It was already having trouble paying the bills when it received $98.5 million in Energy Department loan guarantees.
SunPower landed a deal linked to a $1.2 billion loan guarantee last fall, after a French oil company took it over. On its last financial statement, SunPower owed more than it was worth. On its last financial statement, SunPower owed more than it was worth. SunPower's role is to design, build and initially operate and maintain the California Valley Solar Ranch Project that's the subject of the loan guarantee.
First Solar was the biggest S&P 500 loser in 2011 and its CEO was cut loose - even as taxpayers were forced to back a whopping $3 billion in company loans.
Nobody from the Energy Department would agree to an interview. Last November at a hearing on Solyndra, Energy Secretary Steven Chu strongly defended the government's attempts to bolster America's clean energy prospects. "In the coming decades, the clean energy sector is expected to grow by hundreds of billions of dollars," Chu said. "We are in a fierce global race to capture this market."
Economist Morici says even somebody as smart as Secretary Chu -- an award-winning scientist -- shouldn't be playing "venture capitalist" with tax dollars. "Tasking a Nobel Prize mathematician to make investments for the U.S. government is like asking the manager of the New York Yankees to be general in charge of America's troops in Afghanistan," Morici said. "It's that absurd."
http://www.cbsnews.com/8301-505263_162-57358484/tax-dollars-backing-some-risky-energy-projects/
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Brother_Tempus
Title: Patriot
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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just another government created bubble popping
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Anebriated
Title: I should be reading a book
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Subject:
12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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i'd be more worried if none failed because that would mean nobody is taking any risks.
everyone knows that risk is necessary, sometimes rewarded, and guarantees failure for some.
if you want to make the case that the investments are stupid ones then you have to do better than this~
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Bat_Avenger
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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individuals should take risks with their money, not the government.
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We are One Nation Under God - Barack "Barry" Obama
1/21/2013
Winning the nobel prize means 8 people in scandanavia liked you - it does not indicate truth, brilliance, or anything else.
-dugfromthearth
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Anebriated
Title: I should be reading a book
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Bat_Avenger posted:
individuals should take risks with their money, not the government.
how can the government do anything with tax money that doesn't include risk?
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Ah-Schoo
Title: Fuzzy Caterpillar of Friendliness
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Down with science! Up with camels and Big Oil payoffs!
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.
Opinion = fact. Anecdote = proof. Political label more important than either of those.
Welcome to ACF, where debate goes to die.
.
"fascist totalitarian secular progressive Zionist intellectually challenged Christian puppets." - Aerlinthina
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JD_HOGG
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Teleportation would be awesome. Our government should sink everything we have into developing telportation pads.
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HeartView
Title: Be right back...
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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JD_HOGG posted:
Teleportation would be awesome. Our government should sink everything we have into developing telportation pads.
And all human testing should be done with politicians as test subjects.
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Bat_Avenger
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Anebriated posted:
Bat_Avenger posted:
individuals should take risks with their money, not the government.
how can the government do anything with tax money that doesn't include risk?
bingo!
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We are One Nation Under God - Barack "Barry" Obama
1/21/2013
Winning the nobel prize means 8 people in scandanavia liked you - it does not indicate truth, brilliance, or anything else.
-dugfromthearth
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HeartView
Title: Be right back...
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Someday I hope all of you "the best government is no government" idiots get your wish.
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Anebriated
Title: I should be reading a book
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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no more roads then. building them is a risk with tax payers money. lol.
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Fozzie_Bear
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Anebriated posted:
Bat_Avenger posted:
individuals should take risks with their money, not the government.
how can the government do anything with tax money that doesn't include risk?
they can fix roads and bridges and stuff?
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Then after an Oatmeal Cranberry and Double Chocolate,
it made my new vagina spontaneously sing the Trolololo Song in an elevator.
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Bat_Avenger
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Anebriated posted:
no more roads then. building them is a risk with tax payers money. lol.
bingo
http://en.wikipedia.org/wiki/Gravina_Island_Bridge
-----signature-----
We are One Nation Under God - Barack "Barry" Obama
1/21/2013
Winning the nobel prize means 8 people in scandanavia liked you - it does not indicate truth, brilliance, or anything else.
-dugfromthearth
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Anebriated
Title: I should be reading a book
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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you found the risk-free way to build a bridge? we're saved
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mightbe
Title: lalalalalalalalalalalalalalalalalalalalalalalalala
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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if we took that 6.5billion and invested in the student loan problem, our economy would should a bit more improvement then this investment
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Second_Chance
Title: Great One
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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The current leaders in green tech are Germany and China. Both countries dump loads of federal monies into it, and as a result they have a near iron grip on the international market. The US hasn't created one single globally competitive job in the last 40 years. We can only create more insurance coders and x-ray techs, and gas station attendant jobs for immigrants because our own government is friggin owned by big medicine, big pharma, the insurance companies, and big oil.
But whatever. Continue with what we're doing now and have been doing for 40 years! Cut all government regulation and cut all taxes like the republicans want. Obviously that will fix everything! Obviously current domestic stagnant tech markets will grow and prosper and out perform foreign trillion dollar subsidized markets.
Stupid Americans.
All we're good at is bitching about our own stupidity on a chat forum.
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I am my brothers' keeper I quit smoking 6/18/02 @ Midnight then started again  Gay marriage will encourage people to be gay, in the same way that hanging around tall people will make you tall. Loyal husband to Katriel <--- Blinky wants your soul!!!
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Kanga_Roo
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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The lack of concern for direct and indirect oil subsidies is more revealing than the expressed concerns.
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Laws control the lesser man... Right conduct controls the greater one.
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Fozzie_Bear
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Second_Chance posted:
The current leaders in green tech are Germany and China. Both countries dump loads of federal monies into it, and as a result they have a near iron grip on the international market. The US hasn't created one single globally competitive job in the last 40 years. We can only create more insurance coders and x-ray techs, and gas station attendant jobs for immigrants because our own government is friggin owned by big medicine, big pharma, the insurance companies, and big oil.
But whatever. Continue with what we're doing now and have been doing for 40 years! Cut all government regulation and cut all taxes like the republicans want. Obviously that will fix everything! Obviously current domestic stagnant tech markets will grow and prosper and out perform foreign trillion dollar subsidized markets.
Stupid Americans.
All we're good at is bitching about our own stupidity on a chat forum.
nobody more so than you apparently
-----signature-----
The Oatmeal Butterscotch paired with a Snickerdoodle
turned my cynical penis into a happy vagina
Then after an Oatmeal Cranberry and Double Chocolate,
it made my new vagina spontaneously sing the Trolololo Song in an elevator.
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Second_Chance
Title: Great One
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Fozzie_Bear posted:
Second_Chance posted:
The current leaders in green tech are Germany and China. Both countries dump loads of federal monies into it, and as a result they have a near iron grip on the international market. The US hasn't created one single globally competitive job in the last 40 years. We can only create more insurance coders and x-ray techs, and gas station attendant jobs for immigrants because our own government is friggin owned by big medicine, big pharma, the insurance companies, and big oil.
But whatever. Continue with what we're doing now and have been doing for 40 years! Cut all government regulation and cut all taxes like the republicans want. Obviously that will fix everything! Obviously current domestic stagnant tech markets will grow and prosper and out perform foreign trillion dollar subsidized markets.
Stupid Americans.
All we're good at is bitching about our own stupidity on a chat forum.
nobody more so than you apparently
Your lack of letters matters less.
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I am my brothers' keeper I quit smoking 6/18/02 @ Midnight then started again Gay marriage will encourage people to be gay, in the same way that hanging around tall people will make you tall. Loyal husband to Katriel <--- Blinky wants your soul!!!
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-Rando-
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Every new frontier of science has been pioneered through government funding. Every single one. Satellites, radar, computers, Internet, every huge leap in health care technology, wireless communication, the list goes on and on. The world as you know it wouldn't exist if the government did not outright fund or give out millions in loans or grants to invest in research.
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Dwaveran
Title: Wants to Ban Canada...
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Bat_Avenger posted:
Anebriated posted:
no more roads then. building them is a risk with tax payers money. lol.
bingo
http://en.wikipedia.org/wiki/Gravina_Island_Bridge
hilarious
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Fozzie_Bear
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Second_Chance posted:
Fozzie_Bear posted:
Second_Chance posted:
The current leaders in green tech are Germany and China. Both countries dump loads of federal monies into it, and as a result they have a near iron grip on the international market. The US hasn't created one single globally competitive job in the last 40 years. We can only create more insurance coders and x-ray techs, and gas station attendant jobs for immigrants because our own government is friggin owned by big medicine, big pharma, the insurance companies, and big oil.
But whatever. Continue with what we're doing now and have been doing for 40 years! Cut all government regulation and cut all taxes like the republicans want. Obviously that will fix everything! Obviously current domestic stagnant tech markets will grow and prosper and out perform foreign trillion dollar subsidized markets.
Stupid Americans.
All we're good at is bitching about our own stupidity on a chat forum.
nobody more so than you apparently
Your lack of letters matters less.
perhaps you missed my beefy postcount! I clearly mean more than you
so THERE!
-----signature-----
The Oatmeal Butterscotch paired with a Snickerdoodle
turned my cynical penis into a happy vagina
Then after an Oatmeal Cranberry and Double Chocolate,
it made my new vagina spontaneously sing the Trolololo Song in an elevator.
---AkagiyamaMissile
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HeartView
Title: Be right back...
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Fozzie_Bear posted:
perhaps you missed my beefy postcount! I clearly mean more than you
so THERE!
Respect the Fozzie!
He and Mithan are tight.
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"My brothers and sisters all hated me because I was an only child." http://www.indiefl.com/acf/profile/86 PM me for the password to my Photobucket: http://smg.photobucket.com/albums/v455/HeartView/
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Fozzie_Bear
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personally I couldnt give 2 craps about what Germany or whoever is doing whatever. In my opinion lets create some jobs and get people back to work. we dropped all this cash into these companies and all thats really gonna come of it is more people in the breadline?
how is THAT good business?
-----signature-----
The Oatmeal Butterscotch paired with a Snickerdoodle
turned my cynical penis into a happy vagina
Then after an Oatmeal Cranberry and Double Chocolate,
it made my new vagina spontaneously sing the Trolololo Song in an elevator.
---AkagiyamaMissile
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Hyperimiator
Title: Maximus Probus
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Spent & Approved War-Spending - About $1 trillion of US taxpayers' funds spent or approved for spending through 2011.
Lost & Unaccounted for in Iraq - $9 billion of US taxpayers' money and $549.7 milion in spare parts shipped in 2004 to US contractors. Also, per ABC News, 190,000 guns, including 110,000 AK-47 rifles.
Lost and Reported Stolen - $6.6 billion of U.S. taxpayers' money earmarked for Iraq reconstruction, reported on June 14, 2011 by Special inspector general for Iraq reconstruction Stuart Bowen who called it "the largest theft of funds in national history." (Source - CBS News) Last known holder of the $6.6 billion lost: the U.S. government.
Missing - $1 billion in tractor trailers, tank recovery vehicles, machine guns, rocket-propelled grenades and other equipment and services provided to the Iraqi security forces. (Per CBS News on Dec 6, 2007.)
Mismanaged & Wasted in Iraq - $10 billion, per Feb 2007 Congressional hearings
Halliburton Overcharges Classified by the Pentagon as Unreasonable and Unsupported - $1.4 billion
Amount paid to KBR, a former Halliburton division, to supply U.S. military in Iraq with food, fuel, housing and other items - $20 billion
Portion of the $20 billion paid to KBR that Pentagon auditors deem "questionable or supportable" - $3.2 billion
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Yeah but all this waste is ok to the board Republicans while they rail about pennies invested that didn't pan out, how typical.
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The Hyperimiator song http://www.wfmu.org/listen.ram?show=1639&starttime=1:40:35 "You are never going to be able to vote for the revolution. Get that hope out of your mind" -Jerry Rubin http://www.youtube.com/user/Hyperimiator#p/u
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Fozzie_Bear
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You're right hyper. Fk it let's throw another trillion on the fire and maybe we won't be sending our kids to school with notes saying we can't afford to have them anymore like Greece.
also
http://news.yahoo.com/blogs/envoy/once-feared-lost-now-accounted-iraq-inspector-says-153935856.html
they found the 6.6 billion
-----signature-----
The Oatmeal Butterscotch paired with a Snickerdoodle
turned my cynical penis into a happy vagina
Then after an Oatmeal Cranberry and Double Chocolate,
it made my new vagina spontaneously sing the Trolololo Song in an elevator.
---AkagiyamaMissile
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Brother_Tempus
Title: Patriot
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12 Clean Energy Companies That Got $6.5B In Loans From Ubama Are In Serious Financial Trouble
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Anebriated posted:
Bat_Avenger posted:
individuals should take risks with their money, not the government.
how can the government do anything with tax money that doesn't include risk?
it shouldn't't have tax money
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You win ACF, dude - Osmenthe
BT is usually right - Onslaught
i think we need more BT on page 1 - FighterUSAF
Yep, BT is right - Aerlinthian
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Brother_Tempus
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mightbe posted:
if we took that 6.5billion and invested in the student loan problem, our economy would should a bit more improvement then this investment
another statist advocate for a government bubble. The education bubble is about ready to pop anyways
-----signature-----
You win ACF, dude - Osmenthe
BT is usually right - Onslaught
i think we need more BT on page 1 - FighterUSAF
Yep, BT is right - Aerlinthian
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-Abysmal-
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Second_Chance posted:
The current leaders in green tech are Germany...
which is why so many of the stimulus contracts for wind farms went to germany!
too bad that was geared to create work for Americans and they brought their own workers 
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Now i LIVESTRONG GO PATRIOTS Yankees SUCK!  I wish AC looked better, I miss it I love you forever Jamie
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me for mod! 
Misbeller of mightbe 
I love me 
love i you 
Go..VO..GO... 
I God of miself. 
