Thousands of "Green Jobs"! Billions of Your Green.

Posted on April 2, 2012 by


The horribly misnamed Solar Trust of America got a $2.1 billion dollar loan guarantee from the Obama adminstration almost exactly one year ago. They were going to build a solar thermal power plant (“going to” being the operative term, here) – using an array of mirrors to focus sunlight onto a water tower, which would generate steam, which would power turbines, which would produce a thousand megawatts of clean, green energy.

Naturally, they declared bankruptcy today, filing for Chapter 11 in Delaware and leaving taxpayers on the hook for the “loan”.

The filing comes amid the ongoing controversy surrounding Solyndra, a solar firm that received a half-billion dollar federal loan and was touted by the Obama administration before declaring bankruptcy last year.

Of course, Solyndra execs all got hefty bonuses before their bust, so it’s a safe bet that the boys over at STA did the same. Between just these two “green jobs” companies, taxpayers have lost over $2.6 billion in a year.

And Barry remains a legend in his own mind.
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