UPDATE ON OBAMA’S SOLAR PROBLEMS….

Original post:  http://reidsright.blogspot.com/2011/09/obamas-solar-problems-grow-faster-than.html

AND TODAY – HOT OFF THE PRESS:

SunPower: Twice As Bad As Solyndra, Twice As Bad For Obama

How did a failing California solar company, buffeted by short sellers and shareholder lawsuits, receive a $1.2 billion federal loan guarantee for a photovoltaic electricity ranch project—three weeks after it announced it was building new manufacturing plant in Mexicali, Mexico, to build the panels for the project.

The company, SunPower (SPWR-NASDAQ), now carries $820 million in debt, an amount $20 million greater than its market capitalization.  If SunPower was a bank, the feds would shut it down.  Instead, it received a lifeline twice the size of the money sent down the Solyndra drain.

Two men with insight into the process are SunPower rooter Rep. George R. Miller III, (D.-Calif.), the senior Democrat on the House Education and Workforce Committee and the co-chairman of the Democratic Steering and Policy Committee, and his SunPower lobbyist son, George Miller IV.

READ ON:

http://www.humanevents.com/article.php?id=46761