As we reported earlier, there were as many as 11 other solyndras all in financial trouble. According to Evergreen Energy’s bankruptcy sheet, they owe $47 Million. But how much of that is government guaranteed loans? Almost all of it. $39.1 million.
This is not to be confused with Evergreen Solar which ALSO has financial problems after getting government guaranteed loans.
This is horrible news for the Obama administration just hours before he gives his State of the Union address to the nation.
Evergreen Energy is not as big a scandal as Solyndra which received over $500 million in government loan guarantees… but speaks volumes. How many companies were the American people forced to invest in? What were the real motives for investing in those companies.. were they political? Economic?
The American people are in debt and we used borrowed money to finance failing companies so that a few corporate goons could get rich. That is not the Capitalism that made America great. It is corporatism.
I love the hashtag that Michelle Malkin comes up with. #EcoFail.
But it is true. Here Obama is supporting green energy companies with our tax dollars but turns away good paying American jobs to build the XL pipeline.