Of the half a billion dollars U.S. taxpayers loaned to Solyndra, it looks like we might get back $24 million. You’re right, that’s not good:
Failed solar power equipment maker Solyndra LLC has sketched out its Chapter 11 plan and, as expected, there’s bad news for U.S. taxpayers: Estimates are $24 million of a $527 million government loan will be repaid, and that’s not a sure thing.
Documents filed Friday evening in a Delaware bankruptcy court say private equity firms, including one whose chief has ties to the Obama administration, will get back at least half of the $70 million they put into Solyndra early last year as the company battled for survival….
Stories about Solyndra, KiOR, and others reinforce the guiding principle that politicians shouldn’t play “venture capitalist” with taxpayer dollars.