A green solar panel company, Solyndra, received $500 million in Federal loan guarantees. It declared bankruptcy today, leaving us taxpayers stuck with the bill. Company is laying off 1100 workers. Hmm. $500 million over 1100 workers, that's about $500,000 per worker, no wonder they are dead meat.
They got the loan guarantees 'cause no one in the private sector would loan 'em money without. The private sector guys had it figured just right, Solyndra was a money loser. Why did Obama put up my tax money when experts said Solyndra was a loser? Should Uncle ever guarantee any one's loans?
1 comment:
That was $535 million, not $500 million.
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