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Despite a growing backlash from his fellow Democrats, President Obama has doubled down on his attacks on Mitt Romney’s tenure at Bain Capital. But the strategy could backfire in ways Obama did not anticipate. After all, if Romney’s record in private equity is fair game, then so is Obama’s record in public equity — and that record is not pretty.
Forget Bain — Obama’s public-equity record is the real scandal
Forget Bain — Obama’s public-equity record is the real scandal - The Washington Post
Obama helped these companies by gambling with tax payer money.
Raser Tecnologies - $33 million and they went bankrupt and owe $1.5 million in back taxes.
ECOtality - $126.2 million. They've had $45 million in loses and say they won't be profitable in the future. They are also under investigation for insider trading.
NGP - $98.5 million and they are in financial turmoil.
First Solar - $3 million and they fell to a record low and fired 30% of their employees.
Abound Solar, Inc - $400 million and they aren't doing well. They fired 180 employees.
Beacon Power - $43 million and they filed for bankruptcy.
SunPower - $1.2 billion and now owe more than they are worth.
Don't forget Solyndra - half a billion and they went bankrupt.
Obama claimed that all received government backed loans on their merits.
All that cronyism and corruption is catching up with the administration. According to Politico, “The Energy Department’s inspector general has launched more than 100 criminal investigations” related to the department’s green-energy programs.
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