Monday, July 09, 2012

Obama as a venture capitalist

His record? Not so good..............

Last week, another subsidized company, Abound Solar, joined Solyndra in bankruptcy. Taxpayers lost $70 million.

Sterling Burnett, of the National Center for Policy Analysis, lists other companies you funded. 6 went bankrupt:

- Solyndra: (awarded $528 million)
- Beacon Power ($39 million)
- EnerDel ($118 million)
- Babcock & Brown ($178 million)
- Solar Trust of America ($2.1 billion)
- Abound Solar ($400 million)

Many more struggle:

- A123 ($300 million): One factory, financed by government money, made defective batteries.
- Fisker Auto ($529 million)'s electric cars shut down in their testing phase. Why? Because Fisker used A123's defective batteries.

No comments: