There’s a dubious part of this story that refers to private investors cash to prop up a sham business in a sham green energy industry that is as much a myth as the tooth ferry.
The Hill
As California solar panel maker Solyndra teetered on the brink of financial collapse, Obama administration officials weighed and rejected a last-ditch plan to keep the company afloat.
Under the August plan, which was outlined in nearly 1,200 pages of documents the Obama administration released Wednesday evening, private investors would have put about $100 million into Solyndra, the company that received a $535 million loan guarantee in 2009.
Meanwhile, the Energy Department would have agreed to convert some of Solyndra’s debt to the federal government into a partial stake in the company. The agreement would have also authorized the Energy Department to appoint two independent directors to Solyndra’s board.
More here
So Obama’s solution is to always make the government bigger? So like a big government Democrat to me.
Memeorandum
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