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<blockquote data-quote="moreluck" data-source="post: 895767" data-attributes="member: 1246">Re: ObamanomicsAnother Obama-Backed Green Energy Company Files For Bankruptcy, American Taxpayers On The Hook For $43 Million…If there’s one thing this administration excels at it’s pissing away taxpayer cash.(Reuters) — Beacon Power Corp filed for bankruptcy on Sunday, just a year after the energy storage company received a $43 million loan guarantee from a controversial Department of Energy program.

The bankruptcy comes about two months after Solyndra — a solar panel maker with a $535 million loan guarantee — also filed for Chapter 11, creating a political embarrassment for the administration of President Barack Obama, which has championed the loans as a way to create “green energy” jobs.

Beacon Power drew down $39 million of its government-guaranteed loan to fund a portion of a $69 million, 20-megawatt flywheel energy storage plant in Stephentown, New York.
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[QUOTE="moreluck, post: 895767, member: 1246"] [B]Re: Obamanomics[/B] Another Obama-Backed Green Energy Company Files For Bankruptcy, American Taxpayers On The Hook For $43 Million… If there’s one thing this administration excels at it’s pissing away taxpayer cash. [INDENT][COLOR=#990000](Reuters)[/COLOR] — Beacon Power Corp filed for bankruptcy on Sunday, just a year after the energy storage company received a $43 million loan guarantee from a controversial Department of Energy program. The bankruptcy comes about two months after Solyndra — a solar panel maker with a $535 million loan guarantee — also filed for Chapter 11, creating a political embarrassment for the administration of President Barack Obama, which has championed the loans as a way to create “green energy” jobs. Beacon Power drew down $39 million of its government-guaranteed loan to fund a portion of a $69 million, 20-megawatt flywheel energy storage plant in Stephentown, New York. [/INDENT] [/QUOTE]

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