October 31, 2011

SOLARGATE UPDATE: Beacon Power bankrupt; had U.S. backing like Solyndra. “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 U.S. Department of Energy program. The move comes about two months after solar panel maker Solyndra also filed for bankruptcy, setting off criticism of the government loan program.”

Related: Professor Obama’s Investing 101. “It is not surprising, given his lack of real-world experience, that Obama does not understand the meaning of the word ‘investment.’ Like most in his party, Obama thinks every kind of government spending is an investment.”

UPDATE: Famed Member of the 1% and Obama Bundler Runs Brokerage Firm Into Bankruptcy. “Looks like Jon Corzine has done for his firm what he did for the State of New Jersey.” These people certainly do have the touch.