Beacon Power: Another DOE Loan Bites the Dust
The bankruptcy of the second DOE-backed company in the renewable energy sector is yet another red flag that the government has no business running a bank (or hedge fund) with tax dollars
By Institute for Energy Research —— Bio and Archives--November 5, 2011
Global Warming-Energy-Environment | Comments | Back To Full Article
When Solyndra went belly-up, the proponents of the Department of Energy’s loan guarantee program warned us not to let one rotten apple spoil the whole bunch. With last weekend’s bankruptcy filing of Beacon Power, it looks like there are at least two rotten apples—and counting. After Beacon’s filing, the DOE was quick to reassure taxpayers that their money was safe, but only two days later that turned out to be wrong too. The episode is just another reminder that the federal government has no business playing banker with tax dollars.
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