Friday, September 16, 2011

Flushing Money Down the Toilet

Are we supposed to believe that Solyndra would have gotten all that federally insured money if they hadn't been big Obama benefactors? It's criminal: you get to steal half a billion because you donated a million or so. I don't know what's worse - the fact that our politicians can be bought, or the fact that they can be bought so cheaply.

Anyway, Solyndra isn't the only firm to take the money and run:

Solyndra, the solar panel company whose highly publicized failure and consequent investigation by federal authorities has flashed across headlines recently, isn't the only business to go belly up after benefiting from a piece of the $800 billion economic stimulus package passed in 2009.

At least four other companies have received stimulus funding only to later file for bankruptcy, and two of those were working on alternative energy.

In other news: remember the GM shares that the government unloaded? I noted the price at the offering and have been tracking it. If you'd bought early, you'd have lost 32% by now.

To be fair, a lot of the wasted stimulus probably didn't involve fraud. But when you've got a president who let a criminal slumlord buy his front yard for him, you have to wonder what he's doing now that he has the biggest checkbook in the world.