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$535 million tax-dollars down a solar black-hole (astronomical term – not racist term)
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Government control of private industry is called fascism. Mussolini and others have used it and the results were not even close to the American Free Enterprise System in which ideas and products must compete for survival in an open competitive marketplace.
http://roanokeslant.blogspot.com/2011/02/obama-gives-his-government-motors-gm.html
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http://www.washingtontimes.com/news/2011/aug/31/obamas-solar-stimulus-snafu/
“President Obama made a high-profile visit in May 2010 to Solyndra Inc., a solar-panel manufacturing plant in Fremont, Calif. The company received $535 million in loans from the Energy Department and was a centerpiece of the Obama administration’s economic stimulus effort. “Companies like Solyndra are leading the way toward a brighter and more prosperous future,” Mr. Obama chirped. On Wednesday, Solyndra closed its corporate headquarters, announced that it’s filing for bankruptcy and laying off 1,100 workers. The Solyndra debacle is a case study in the failure of government intervention in the economy. Founded in 2005, the company manufactured a rooftop solar panel designed chiefly for commercial applications. Solyndra was a poster child of the utopian future envisioned by the Obama administration when oodles of green jobs would relieve the nation’s unemployment rate, generate clean energy and help the environment. Energy Secretary Steven Chu rushed through loan guarantees, and money began to flow to Solyndra from the Federal Financing Bank. The terms of the loans, just more than 1 percent interest in most cases, were well below the rates competitors had to pay.”
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Yet another example of how a "community organizer" creates jobs
$20 MILLION = 14 jobs
And this fiasco is in the Energy Secretary Chu's home town!
http://www.foxnews.com/politics/2011/08/29/seattle-green-jobs-program-gets-20m-creates-14-posts/
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Connecting the Corn Dots: Famine, Food Prices, Exports, Ethanol
http://roanokeslant.blogspot.com/2011/08/connecting-corn-dots-famine-food-prices.html
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Prior Items:
http://roanokeslant.blogspot.com/2010/01/tim-kaine-mark-warner-obama-green.html
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http://roanokeslant.blogspot.com/2011/07/car-barons-ford-hitler-obama.html
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http://roanokeslant.blogspot.com/2008/12/kaine-steers-va-into-green-something.html
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