CBS News (Yeah, CBS News!) Identifies Eleven More ‘Solyndras’

COMPANIES GIVEN BILLIONS IN TAXPAYER SUBSIDIES DESPITE SERIOUS FINANCIAL PROBLEMS

According to CBS News, (Yeah, I know; my jaw dropped, too.), there are at least eleven more ‘Solyndras’ in the Obama Regime’s infamous green-energy program. Yep, CBS, a charter member of the Obama Media Group counted twelve – including Solyndra – “clean energy companies” in financial meltdown – all after collectively being approved for more than $6.5 billion in federal assistance.

Lest you forget the source of this “federal assistance,” look no farther than Barack Obama’s trillion-dollar “stimulus” program. It strikes me as amusing that all politically-driven attempts to “stimulate” Captain Teleprompter’s green-energy companies weres not unlike applying defibrillator paddles to a dead horse.

Here’s a primer for those of you who need to brush up on the Regime’s modus operandi:

Of the companies identified by CBS, five have filed for bankruptcy: The junk-bond-rated Beacon, Evergreen Solar, SpectraWatt, AES subsidiary Eastern Energy and Solyndra.

Prior to the government’s approval of $43 million for Beacon, Standard and Poor’s gave the company a rating of “CCC+”, which it shares with Greece, a bankrupt nation embroiled in a massive debt crisis. Economist Peter Morici was asked if he would invest his own money in Beacon:

“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 – categorically - 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 unlikey that taxpayers will get all their money back. No biggie though, Obama continues to get his campaign contributions.

The obvious pattern with these companies – and others as well – as noted by the Washington Post: Energy programs under Barack Obama have been “infused with politics at every level.” The Regime hastily approved subsidies for Solyndra, whose executives are now pleading the 5th Amendment. Why is that?

Lost in the shuffle: In 2010, Regime officials successfully pressured Solyndra into delaying its announcement of upcoming layoffs until just after the mid-term elections in a failed attempt to contain political damage and avoid embarrassing the thin-skinned Boy King. (Didn’t work out too well for ‘em, did it?)

I’ve referenced the histrionics of Democrats over Halliburton several times over the last few years; can you imagine – in your wildest imagination – the amount of crap that would have hit the socialist fan if just one of these scandals had occurred during the Bush Administration? Or the administration of any Republican president?

Hats off to CBS on this one. Damn. Pigs DO fly sometimes. Just not very often.

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Time for the liberal long knives to come out against CBS. How rare is THAT?