You should contact Bloomberg and NPR with your 'research' https://www.bloomberg.com/news/arti...s-5-billion-from-program-that-funded-solyndra
the level of debt to manage in 1980 was no where near what it is to manage now. That's the reason rates are where they are. It's nothing more than a gigantic kicking of the can exercise. Keep issuing debt, keep pulling forward future earnings. We're about out of runway now, though. Need a good, giant default to clear the air so we can do the same asshattery for another 30 years.
Soyndra was a disaster but it was one part of a larger program Shitbrain.As of now overall the program has made a profit and created or maintained around 35,000 jobs moron.
You are merely attempting to re-write history.... here is the actual results of Obama's costly and disastrous crony-capitalist green programs. In deal after deal the hedge funds who donated to Democrats made money while the government held the bag for the losses. Obama clean energy loans leave taxpayers in $2.2 billion hole https://www.washingtontimes.com/news/2015/apr/27/obama-backed-green-energy-failures-leave-taxpayers/ Taxpayers are on the hook for more than $2.2 billion in expected costs from the federal government’s energy loan guarantee programs, according to a new audit Monday that suggests the controversial projects may not pay for themselves, as officials had promised. Nearly $1 billion in loans have already defaulted under the Energy Department program, which included the infamous Solyndra stimulus project and dozens of other green technology programs the Obama administration has approved, totaling nearly about $30 billion in taxpayer backing, the Government Accountability Office reported in its audit. The hefty $2.2 billion price tag is actually an improvement over initial estimates, which found the government was poised to face $4 billion in losses from the loan guarantees. But as the projects have come to fruition, they’ve performed better, leaving taxpayers with a shrinking — though still sizable — liability. “As of November 2014, DOE estimates the credit subsidy cost of the loans and loan guarantees in its portfolio — that is, the total expected net cost over the life of the loans — to be $2.21 billion, including $807 million for loans that have defaulted,” the GAO said in its report to Congress. The green program loan guarantees were created in a 2005 law and boosted by the 2009 stimulus. The first applications were approved in 2009, and through 2014 the Obama administration had issued some 38 loans and guarantees, covering 34 projects ranging from nuclear power plants to fuel-efficient vehicles to solar panels and wind-generation technology. (More at above url)
https://www.csmonitor.com/Business/...y-Department-s-loan-program-is-now-profitable Solyndra who? The Energy Department's loan program is now profitable. The DoE loan program became a lightning rod during the 2012 presidential election for backing solar company Solyndra, which later went bankrupt. A few years later, it's in the black. October 17, 2016 By Stephen Edelstein GreenCarReports The U.S. Department of Energy (DOE) loan program that became a lightning rod during the 2012 presidential election is now turning a profit. The program became infamous for backing solar company Solyndra, which later went bankrupt. Three years after Solyndra's failure, though, the program is now in the black. Interest payments from projects funded by the loan program were $810 million in September, higher than the $780 million in losses recorded, reports Reuters, citing DOE statistics. Those losses make up 2.28 percent of the loan program's total commitments, with the $528 million Solyndra loan making up the bulk of that amount. How much do you know about the auto industry's future? The program allows the DOE to guarantee a loan for between 50 and 70 percent of an approved project's cost. Borrowers must secure a separate loan from the U.S. Treasury or a private lender for the balance. The program was created in 2005 under the Bush Administration, but its renewable-energy component was added in 2009 as part of the Obama Administration's American Recovery and Reinvestment Act stimulus program. The emphasis on renewable energy made the program a target of criticism from Republicans, especially after Solyndra's 2011 bankruptcy and the bankruptcy of Fisker Automotive—which received government loans under the separate Advanced Technology Vehicles Manufacturing (ATVM) program. The DOE issued no new loans between late 2011 and this year. But the program has helped provide funding for renewable-energy projects when private investors were unwilling, Peter Davidson—executive director of the DOE Loans Program Office—said in an interview with Reuters. After the DOE approved loans for five utility-scale photovoltaic solar projects, 17 more have been funded by private investors who would not have taken the risk at first, Davidson said. The DOE also doesn't expect significant future losses from the revitalized program, Davidson said. That's because most of the projects funded by the program are large power plants that are now producing electricity for the grid, including photovoltaic and solar thermal plants, wind farms, and geothermal energy plants.
This entire article begs the question of its failure to align with the facts. In 2015 the DOE reported that it had over 1 Billion dollars in losses from the green loan programs. How did this magically get scaled back to $780 million in losses in fall of 2016. Inquiring minds who can do math want to know how they made this "new math" happen. The key issue with the DOE program is that the taxpayer took the loss on these loans when they defaulted but the hedge funds still made significant money. This is a travesty. Any government loan should have provisions requiring that the investors also take a loss and do not profit.
GOA siad 807,sounds like your source rounded it out to a billion.Wouldnt expect anything less from Washington Slimes including $807 million for loans that have defaulted,” the GAO said in its report to Congress. Nearly $1 billion in loans have already defaulted under the Energy Department program