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|4th October 2011, 14:35||#1|
Join Date: May 2010
Obama Says he Has No Regrets on Wasting $535M on Failed Solar Startup
President says high-risk loan was "felt like... a good bet"
(This article contains editorial commentary, which is the opinion of the author.)
President Barack Obama has endured scathing criticism in recent weeks for loaning $535M USD to failed solar startup Solyndra. The loan came as part of a $40B USD "green" technology stimulus effort. But on September 1, 2011 Solyndra filed Chapter 11 bankruptcy, leaving its 1,000+ employees looking for work and leaving the government staring at an un-recoupable loss.
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