As regular readers are well aware, Solyndra was a troubled "green energy" firm into which the Obama administration poured half-a-billion taxpayer dollars as part of their "stimulus" program. They did so over multiple red flag warnings from both their own and Bush-era accountants. Despite the generous infusion of cash, the company went bankrupt last year, destroying 1,000 jobs and flushing hundreds of millions of taxpayer dollars down the toilet. Luckily for the firm's top investors -- who happened to be major Obama campaign donors -- the administration generously refinanced the loan to ensure that said investors would recoup the first $75 million in losses when the company went under. And as the ship was sinking, Obama officials and Solyndra executives (who are now lining up for bonuses) assured the public and Congress that everything was fine and dandy. It was a disgrace. Now CBS News' Sharyl Attkisson, who is already in hot water with the Obamites for daring to report accurately about Fast & Furious, has filed a new report detailing eleven "new Solyndras." These companies were given billions in taxpayer subsidies, despite serious financial problems, and have subsequently (and predictably) gone bust. Hey, remember this? Behold, President Obama's economic handiwork:
Ed Morrissey has more on this mess. American taxpayers have seen this movie before, and we're bracing to see it over and over again. As Democrats gear up to wage a class envy-laden attack campaign against GOP frontrunner Mitt Romney, these cases will be very instructive. Romney was a successful private sector investor, who used private money to back upstart and struggling companies. The vast majority of his decisions were sound, resulting in growing companies, more jobs, and yes, profits. If his track record had proven lackluster, he would have been forced to answer to his board, his shareholders, and his investors. Obama's 'green' ordeal is venture socialism. He and his team pushed billions of public dollars out the door in order to temporarily delay ideological allies' inevitable demise. As CBS explains, they did so knowing full well that their bets were foolish at best. To whom is Obama responsible? Voters, that's who. November is coming.
UPDATE - Americans for Prosperity has unveiled a new multimillion dollar ad buy, hitting Obama on Solyndra. Today's CBS report will give them a lot of fresh material for future spots. Well done:
Guy Benson is Townhall.com's Political Editor. Follow him on Twitter @guypbenson. He is co-authors with Mary Katharine Ham for their new book End of Discussion: How the Left's Outrage Industry Shuts Down Debate, Manipulates Voters, and Makes America Less Free (and Fun).
Author Photo credit: Jensen Sutta Photography