Long about now you may be feeling a little sympathy for executives at Solyndra - the solar panel maker that went belly up taking half a billion in taxpayer-backed loans with it.
Maybe you feel like we're obsessing too much on the California company. Well, that might make sense if Solyndra was the only taxpayer-backed company that was in trouble - but it's not.
In fact if you take a look at all these green programs -- you'd be hard-pressed to be impressed.
It's not just Solyndra -- there's SunPower - another solar panel maker that got one point two billion dollars from taxpayers - only to see its stock plummet 94 percent - and their debt is higher than their market cap!
What grade should we give SunPower? Fail!
Now a new report from the Energy Department's inspector general shows another program failing to fulfill its mission. That's the weatherization program. Remember cash for caulkers? It was one of the many programs from the white house to stimulate the economy - we threw $5 billion at this idea which would also make homes more energy efficient while boosting the economy.
Recently federal inspectors began checking out whether this program was making good on its promises -- and the answer -- another failing grade!
They found some of the furnaces spewed carbon monoxide - a potential poison for those in the home.New water heaters on the verge of exploding due to missing pressure valves, this according to the Daily Beast. Contractors - not familiar with weatherization - using air blowers - that ended up spewing asbestos around the home! In fact the Energy Department says 14 percent of the projects failed to meet safety or quality standards.
All that money and no one bothered to make sure what they were doing was safe? Whether contractors knew what they were doing?
And do you remember President Obama promising to make green jobs the wave of the future?
Well the Labor Department says the multi-billion dollar program only met 10% of its goal of creating 80,000 jobs. Another failure!
And there's more: The National Renewable Energy Lab in Colorado got $300 million from you and me. How many jobs did they create? None - in fact they're actually laying off ten percent of its workforce! So why does President Obama and company keep pushing the green projects when they are obviously not working?
He may truly just believe in the goal of cleaning up the environment or it could be the more than $2 million these green-energy aid recipients have given federal campaigns since Obama took office!