Here's another scandal you won't hear the protesters on Wall Street complaining about. If you're mad about Solyndra, chew on this one that directly involves a solar panel plant called SunPower, California Congressman George Miller (D) and his son. The well-connected folks at SunPower got half a billion dollars from the government even as they were building a plant in Mexico.
Hat tip to Human Events.
http://www.humanevents.com/article.php?id=46761
I can't wait for the clowns at MSNBC to jump all over this one. Maybe Ed "Butter and Egg Man" Schultz can announce it to the encampment at Zuccotti Park as he broadcasts live.
Green energy, ladies and gentlemen. It's the biggest scam in history.
5 comments:
My old History teacher said the same thing. Funny how history repeats itself.
This is truly unbelievable! The US gave $1.2 BILLION to a company to produce jobs in Mexico!
A few items jump out from the page:
"The company is looking for a facility of up to 320,000 square feet, where it will build three different solar panel models and its solar roof tiles, according the company’s Aug. 5 statement."
That's a lot of jobs - in Mexico.
"Today, its market capitalization is $800 million, just short of its debt of $820 million, according to the company's July filings for the second quarter."
They owe $20 million more than they are worth! Great investment!
"In addition to all its other challenges, the company and its officers are defendants in a federal shareholder lawsuit, whose plaintiffs include, the Austin (Texas) Police Retirement System, the Arkansas Teachers Retirement System and a number of institutional investors for an alleged scheme to deceive the investing public by making false statements contrary to nonpublic information known to the insiders"
Who vets these deals? The ones who stand to benefit the most from them going through. It is all taxpayer money so, who cares. Tax the rich!!
That class warfare has worked for the Democrats before... and Obama is going to try it again. He explains this away with a sort of "win some, lose some" dismissal.
The election can't come soon enough.
Miggie asks: "Who vets these deals." The Jobs Czar, GM's CEO, has closed down factories in the U.S., in order to send jobs to China. Obama bows to the Saudi King, who helps set oil prices, while the POTUS shuts down oil prduction in the U.S. The Green jobs scam has already been covered by Gary.
Is this enough?
Squid
"Is this enough?"
Wasn't this supposed to be the most open administration ever?
Who is SUPPOSED to be looking at oh, conflict of interest, improprieties, bad investments, influence peddling, ...things like that? Who actually gives the OK on these stupid grants?
Is the DOJ still covering for Fast & Furious, ignoring ACORN and all those sweetheart deals.
This administration is rotten to the core and the country can see what you get when you have the Democrats in power. Not that the Republicans are perfect either but the crimes by the Democrats are several magnitudes higher. There really is no comparison.
I suppose someone could say that Enron was a Republican free market disaster but it was nowhere near the losses caused by Frank, Dodd, Reines and other Democrats that led to the financial collapse of Freddy and Fanny and then the whole housing market and then the whole economy in 2008. We haven't gotten out of it yet.
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Green energy will work fine to power light bulbs and air conditioners. Where capitalism will distribute the jobs is another matter. The notion that we are somehow going to develop a new industry and nobody in China will find a way to deliver the same product cheaper is a bit overdone. WAl-Mart, of course, will be letting manufacturers know that only goods made in China ( or maybe Mexico) are welcome on the shelves. If the president says anything about that... well, it would be proof he really is a socialist after all. Imagine telling SunPower or Wal-Mart how to run their businesses.
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