Yesterday, another Obama-funded solar company went bankrupt. This time it was Solar Trust and they managed to get a $2.1 billion loan guarantee from Obama's Department of Energy. Out of the eight that since failed in the last year after having been funded by taxpayer money, this one is even more laughable than the rest.
The first joke is its name: Solar Trust. Trust what? Trust that they stay in business. Trust that they won't waste taxpayer money. Trust that their technology is sound.
Then, the other joke is Solar Trust's original parent company, was a German company with the name of Solar Millennium. They went bankrupt last December. Wow! Millennium! They could barely stay in business for 13 years; much less a millennium.
Finally, there's the second parent company who took over "Trust" after "Millennium" died. They were another German company named: Solarhybrid. They too went bankrupt just last month; leaving Solar Trust to fend for itself. Of course, we now know that Solar Trust couldn't even survive a month on its own.
Obviously, there's a pattern here that is no joking matter. More than $3.5 billion dollars of taxpayer money has been thrown away on unsound green companies. Yet, neither Obama nor Energy Secretary Chu are being held responsible for this Madoff-equivalent irresponsibility.
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