FBI raids bankrupt solar company touted by Obama...

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FBI raids bankrupt solar company touted by Obama...

Postby GFunkMoneyDog » Thu Sep 08, 2011 11:04 am

This is the company that Obama claimed was the best thing since sliced bread. This is also the same company who's rep's made over 20 visits to the White House. This is the same company that is now going bankrupt after being awarded 500 million in stimulus money.

http://www.nbcbayarea.com/news/local/FBI-at-Solyndra-Headquarters-129455348.html
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Re: FBI raids bankrupt solar company touted by Obama...

Postby GFunkMoneyDog » Wed Sep 14, 2011 9:17 am

What is funny is that the loan followed through even though the Dept of Energy and the Office of Management and Budget showed that the company would run out of money in September 2011, and Obummer still gave the loan.

Bush Admin. Voted AGAINST Solyndra Loan

http://nation.foxnews.com/solyndra/2011/09/14/bush-admin-voted-against-solyndra-loan
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Re: FBI raids bankrupt solar company touted by Obama...

Postby DarkFairy » Wed Sep 14, 2011 2:59 pm

Is he trying to bankrupt the Country or just a flat out idiot?
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Re: FBI raids bankrupt solar company touted by Obama...

Postby Angry Whiteguy » Thu Sep 15, 2011 11:34 am

Your government is your master!!! Resistance is illegal, and futile!!!
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Re: FBI raids bankrupt solar company touted by Obama...

Postby GFunkMoneyDog » Thu Sep 15, 2011 11:41 am

This amounts to a criminal act.
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Re: FBI raids bankrupt solar company touted by Obama...

Postby Angry Whiteguy » Thu Sep 15, 2011 4:37 pm

GFunkMoneyDog wrote:This amounts to a criminal act.

Yeah, but how can we get the New York Times to prosecute..?
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Re: FBI raids bankrupt solar company touted by Obama...

Postby GFunkMoneyDog » Thu Sep 15, 2011 9:29 pm

The solar company isn't the only "Green Energy" company to fail. Two additional companies touting alternative energy has gone under.

SOLYNDRA among 5 stimulus firms to go under...

http://www.foxnews.com/politics/2011/09/15/despite-stimulus-funding-solyndra-and-4-other-companies-have-hit-rock-bottom/

This will be Obummer's Whitewater.
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Re: FBI raids bankrupt solar company touted by Obama...

Postby GFunkMoneyDog » Sat Sep 17, 2011 10:33 am

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Re: FBI raids bankrupt solar company touted by Obama...

Postby GFunkMoneyDog » Wed Sep 21, 2011 8:50 am

The chief financial officer who is scheduled to testify at a congressional hearing on Friday will invoke the 5th Amendment.

Solyndra execs will decline to testify at hearing


http://af.reuters.com/article/commoditiesNews/idAFS1E78J1KE20110920
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Re: FBI raids bankrupt solar company touted by Obama...

Postby GFunkMoneyDog » Wed Apr 20, 2016 8:34 am

Here we go again Cate!!! SunEdison who claims to be the largest provider of solar energy is following the foot steps of Solyndra (another bankrupt solar energy company that Obama gave 500 million dollars to) filing for bankruptcy. The tax payers can expect a loss of 3 billion once SunEdison is granted bankruptcy.
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Re: FBI raids bankrupt solar company touted by Obama...

Postby Cate McCalley » Wed Apr 20, 2016 11:52 am

GFunkMoneyDog wrote:Here we go again Cate!!! SunEdison who claims to be the largest provider of solar energy is following the foot steps of Solyndra (another bankrupt solar energy company that Obama gave 500 million dollars to) filing for bankruptcy. The tax payers can expect a loss of 3 billion once SunEdison is granted bankruptcy.


When a company (SunEdison) sets itself up to purchase all of the new development and assets of companies producing a particular product (solar energy), and at the same time sets up two high yield investor funds, TerraForm Power & Terra.Form Global (junk bond funds) that it sells its finished it's products for the sole purpose of having those high yield investment funds, reinvest their proceeds back into the company (SunEdison), failure is inevitable.

High yielding (junk) bonds do very well in the beginning as they use new investors moneys to pay high dividends to established investors. Money (investments) flows into the parent company (SunEnergy), allowing it to gobble up assets of companies engaged in developing their product (solar energy). And money (high dividends) flows to established investors of these high yielding investments (junk bonds). Well....at least for awhile.

As fewer investors buy shares, less and less monies come in to pay the higher dividends established shareholders are used to getting and demand. Less and less money is available to the parent company (SunEdison) to develop products, or buy the assets of other companies (their competitors) producing solar products. At the end of the day, late investors see the value of their shared drop and keep dropping as analyst come out with reports showing SunEdison is selling off assets to keep afloat. The pull out begins and ends with a bankruptcy.

Now if SunEdison had been interested in developing solar energy at a price competitive with the market, it would have balanced it's appetite for buying up companies developing solar products, with investing in R & D to develop it's own products to compete fairly. But that's not what Wall Street scammers do. That's not what Crony Capitalist do.

Common sense should dictate that when a company's history shows it's best finished solar product produces one kilowatt hour that cost $200, and the prevailing market competition (oil & natural gas) products are producing one kilowatt hour at a cost of $35, the company has not been interested in developing a product to effectively compete in the energy market. It's obviously established to benefit Wall Street scammers that create 'investment' tools like junk bonds that pay them big money until......it's exposed and doesn't. Mark one up for Crony Capitalism.


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Re: FBI raids bankrupt solar company touted by Obama...

Postby GoDan » Wed Apr 20, 2016 11:59 am

Don't forget the company in Spain.
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Re: FBI raids bankrupt solar company touted by Obama...

Postby Gopher » Wed Apr 20, 2016 3:03 pm

Billions wasted on a industry that isn't affordable and isn't sustainable.
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Re: FBI raids bankrupt solar company touted by Obama...

Postby Cate McCalley » Wed Apr 20, 2016 4:30 pm

Gopher wrote:Billions wasted on a industry that isn't affordable and isn't sustainable.


It is affordable and is sustainable. Just not with the current unrealistic mode of financing.

This is only one example why Wall Street financial tools must be reformed. Expecting private industry to fund R&D without an immediate investment return is unrealistic. Given the financial systems tools and vehicles that require them to turn out intangible financial products for profits, rather than the tangible products themselves.

Other than the GPS invention, which was advancement in the global satellite system in 1973, there have been no major scientific breakthroughs or inventions since the 1970`s.

Every recent major scientific breakthrough in this country, has been backed by government funded laboratories and University studies. The atom bomb the most notable.

JFK's commitment in 1961, to NASA for intense space exploration throughout the decade, is responsible for the inventions that brought us to today's technology and digital age.

The way it works....the way it has to work in a modern Capitalist model, is for the government to fund R & D and private industry to capitilize on it's discoveries and inventions. Neglecting one or the other ensures the model fails.

http://youtu.be/AJxNjkp_Zkg


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Re: FBI raids bankrupt solar company touted by Obama...

Postby upallnight » Wed Apr 20, 2016 8:54 pm

How is it affordable? Let me guess. You want the government in the solar energy business? That can't be your answer for everything Cate Sanders.
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