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Yet another “Solyndra” for Obama

This is what happens when government picks winners and losers from the private sector.  Actually, with B.O.’s track record, has he even picked any actual winners?

Beacon Power, a Massachusetts-based company that won praise from renewable power activists and loan guarantees from the federal government, has filed for bankruptcy, potentially leaving taxpayers on the hook for $43 million.

The company, which promised to build storage devices for intermittent power produced by wind and solar power facilities, was never able to attract investors. Coming on the heels of the Solyndra bankruptcy and ensuing scandal, the Beacon Power bankruptcy has a growing number of people calling for an end to federal loan guarantees for risky alternative energy start-ups.

No word yet on whether or not there were any political connections involved in this one, or if this was just another in a long list of stunning and expensive failures of the administration.

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November 18, 2011 - Posted by | big government, corruption, economic ignorance, environuts, Obama, Solyndra

3 Comments »

  1. Probably just another stunning and expensive failure of the administration…to look at reality of how things really work in the world. What a bunch of losers the administration has got together to run the country, into the ground. Never rule out the political connections angle. Its always there someplace.

    Comment by J. Guidry, Battlefield, MO. | November 18, 2011

  2. Yeah…these gov’t lobbyists REALLY know how the actual job market works, huh? They couldn’t prosper a prophylactic stand at a hooker convention…private business is JUST totally alien to them.

    Comment by Kevin | November 18, 2011

  3. don’t forget that the chinese have been dumping this sort of equipment for years. kind of like monsanto’s been dumping u.s. taxpayer subsidized corn on mexico for 30 years which is why the mexicans come here. yes, it’s stupid to start a business like that before we restore import tariffs to protect u.s. business. No, it’s not true that it wouldn’t be the same with a republican in the white house. try to have a longer memory, try not to get distracted by the left/right dem/rep non-issue. both “sides” are controlled from above. wake up, please, you seem intelligent enough to see it. it’s rich versus poor, not left vs. right.

    Comment by jay | May 19, 2013


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