Economic Policy Journal - When it comes to government money, it's always about insiders running circles around the government money and pocketing a piece. Don't ever forget that. And usually, there is a crony investment banker as part of the program. On March 20, 2009, the Obama connected and now infamous Solyndra, Inc. announced that it was the first company to receive an offer for a U.S. Department of Energy loan guarantee under Title XVII of the Energy Policy Act of 2005.
Solyndra said in the announcement that it would use the proceeds of a $535 million loan from the U.S. Treasury’s Federal Financing Bank to expand its solar panel manufacturing capacity in California. The press release closes this way: Goldman, Sachs & Co. acted as exclusive financial advisor to Solyndra in connection with this loan guarantee application. Read full story here: News New Mexico
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