Quote:
Originally Posted by ilovetv
How can anyone possibly think that Obama has the financial and investment knowledge, wisdom and skill to lead this nation out of this economic abyss as opposed to Romney and his investment knowledge, skill and wisdom????
And how about as opposed to Gingrich, who really does not understand how something as basic as mutual funds work??
"Ener1, an electric car battery company that the Obama administration awarded a $118 million stimulus grant to expand its operations, filed for Chapter 11 bankruptcy protection Thursday after being unable to repay pressing debts.
The news comes one year after Vice President Biden visited the company’s new battery plant in Indiana to highlight its progress with federal funds.
Solyndra, a California solar company backed by a half-billion dollars in loan guarantees from the Obama administration, announced it was shutting its doors and laying off 1,100 employees.
Ener1 is the third company to seek bankruptcy protection among those the Energy Department backed as part of the president’s signature program to invest in clean energy. Solyndra, a California solar-panel maker, and Beacon Power, a Massachusetts energy-storage firm, entered bankruptcy court proceedings in the fall, after having received taxpayer-guaranteed loans of $535 million and $43 million, respectively.
One of Ener1’s key struggles has been its reliance on one financially troubled customer, Think. The Norwegian carmaker filed for bankruptcy protection in June 2010..."
Obama-backed electric car battery company files for bankruptcy protection - The Washington Post |
I am confident that no president reads the prospectus or studies the balance sheet of any company seeking stimulus funds or government subsidized loans. It is ludicrous to imagine a president, with all the things on his or her plate, micromanaging such minutiae. There are legitimate reasons to criticize obama, this is not one of them.