Beacon Power Company, which benefited from a $43 million loan guarantee through the same federal program that backed Solyndra, has filed for bankruptcy.

YOUR TAX DOLLARS AT WORK!

THE BANKERS THANK YOU!

Bankruptcy is not always a definite failure of the company for one.

And there is no way to foresee if this was going to happen so what is the point?

There is EVERYWAY to foresee this happening. The way it is supposed to work is to loan money who are in good financial shape to help them expand into a new industry such as solar power. The loans were NOT to help a financially troubled company last a little longer.

When very large sums of money are loaned to financially troubled companies, there is usually some graft involved.

All assumptions and assumptions suck.

There is no for sure way to see this coming. It happens to sound companies all the time.

And bankruptcy for a company does not mean that it is going under for sure anyway. My phone company went bankrupt many years ago and it is still going strong now.

First of all, sound companies don't go bankrupt... by definition.

Second, financial data is required of all companies so there is "for sure" a way to see this coming.

Thirdly, to get a loan this large, one either has to submit documentation that the company is sound, falsify the documents that the company is sound, or pay someone to get the loan knowing the company is not sound. Since the company was not sound, only the last two apply.

None of which is a sure fire way to predict this not happening.

So still a no go.

So then the banks making bad loans and causing the housing meltdown couldn't be predicted?

Destroying America by design..... the "Federal Reserve Act of 1913"

We are talking of one loan here. A whole different ball of wax then the banks making a bunch of bad loans and bundling them and selling them to others as tangible loans who then sell them off again, etc... Until the margin call is made and the loans are no good.

When banks are not doing the above there are loans made to companies who are believed to be sound by the banks checks and balances and they still go bad. So it is not a black and white process that is sure fire. No matter how much you want it to be so.

I wonder how much they contributed to Husseins election!

I would recommend an investigation either way anyway.

Defaulting on a loan is defaulting on a loan.

No matter how you don't want it to be so.

It is obvious in the Solyndra case that they knew there was a problem and because one of the investors was an Obama donor he got bailed out and the taxpayers are responsible for the tab.

What is half a billion, right?

Please....just NOBODY tell Obummer what comes after Trillion!

You are still not making the good point here.

No matter how many checks and balances go on with a loaning institution, there will always be a few loans who fail anyway.

You cannot deny that because it is factual.

So you are going around it but you are not coming out on top in this one.

fixed it for you....


obarry pushed that Solyndra loan through, even tho everyone told him it was a bad idea....

What you don't seem to comprehend is that this isn't some local bank loaning a couple hundred grand that is backed by Fannie Mae with little or any chance of losing their money if there is a default.

This is half a billion dollars of taxpayer money down the toilet.

You want to sit there and ***** and complain about people not paying their fair share, but here is a case of complete incompetence or worse done by the government you love and all you have is this?

Ridiculous.

your kidding

someone loaned someone money for solar power?

a large sum of it?

p.s. what was it a front for? they gotta ask that in the hearing

You only get the money if you have bad credit!