Hatch's Solyndra: Government picks another loser

http://washingtonexaminer.com/article/1346816


"Utah Sen. Orrin Hatch did so many favors for Raser Technologies, a green technology company in his state, that the company named its geothermal power plant "The Hatch Plant." His role turned out eerily reminiscent of President Obama's support for the failed solar-panel maker Solyndra. The Hatch Plant is now shuttered, and Raser Technologies has gone bankrupt."....................

More Corporate Cronyism. This time GOP based.

I wonder if MSNBC will report on this one? Yaaa! A Republican is attached to wasted taxpayer money! Oh NO, it's a green energy company!! What a dilema.

Anyone who things avarice, greed, corruption etc is restricted to one party or is more prevalent of one party is a fool.

How strange, righties on this board attacking the Republican party power guys! The Lefties here would never rip on one of their own.

FredHayek wrote: How strange, righties on this board attacking the Republican party power guys! The Lefties here would never rip on one of their own.

They can't even get themselves to be outraged when one of there own says they would be ok with Obama getting shot (Big Douche).

I remember following this company Raser Tech, along time ago. They had some new fancy induction ac motor design that was patented and supposedly superior. Also had an unbelievable market cap and no real revenues, a big investor scam really. They were losing money by the millions too. They were also into geothermal I think. Not sure why they would need gov't funding, they issued tons of public stock by the millions. It was a Nasdaq stock I think.

LOL wrote: I remember following this company Raser Tech, along time ago. They had some new fancy induction ac motor design that was patented and supposedly superior. Also had an unbelievable market cap and no real revenues, a big investor scam really. They were losing money by the millions too. They were also into geothermal I think. Not sure why they would need gov't funding, they issued tons of public stock by the millions. It was a Nasdaq stock I think.

It is easier to steal from the government than a private investor. You have to fool an investor you only have to bribe a senator.

Somewhat true with borrowing/debt. I've seen companies issue new stock pretty easily though, just put together a good investor marketing presentation and print up new shares, diluting current investors stakes. Also employees and execs option grants end up as new shares in the company acct. Its quite the boondoggle.