Also in this playlist...
This transcript is automatically generated
Is this hour as another tax -- backed green energy company is reportedly on the verge of a saloon drill like collapse the California based solar company.
Was backed by the Obama administration before declaring bankruptcy back in 2011.
Now experts say Fiske -- automotive.
Could be headed down the very same path.
Despite receiving up to 529.
Million dollars in federal loans that's -- taxpayer dollars.
And of course some high profile celebrity endorsements from the likes of Leo DiCaprio and the deeds.
That's reason enough not that.
Like that company.
Charles -- -- an anchor on Fox Business Network and CEO.
Of W thestreet.com.
Another so -- dress and -- -- tragedy for American taxpayers.
It is a real tragedy for American taxpayer and that looks like it more increasingly like it is going to be another Solyndra another -- Cylinder did that have to happen you talk about those celebrities but.
There's another celebrity involved Al Gore.
And you know just like cylinder it seems like these guys who have real great connections.
To the president it somehow get involved in these things and what I love -- -- is wanted it's the dust settles on this one way the other.
To see how protective some of these investors workers in -- member with the lender and a happy with the deep pocketed billionaire whose -- whose risk.
-- before our risk in other words you know what if something goes wrong we'll pay you off and that.
Against the law like the by the way I want to put up on the screen.
Some of the companies that -- gone belly up Solyndra 527.
Million in taxpayer money beacon power 43 million.
Abound solar 68 million.
And I'll add to the list some other companies and -- 18123.
System Specter -- Evergreen Solar Fisher coach works.
What's going on are the people for example in the government and the Department of Energy simply not qualified to look at -- company and decide whether it's a make or break company.
Well they're definitely not qualified there's just no doubt about that no matter what else is going on -- You have technologies that are going to evolve I mean how many people that the don't think it's cool to drive up this very yummy do you ever seen one of you had a solar -- car.
That'll be cold these things -- ball that's a trillion dollar industry.
-- and it's going to happen the idea that somehow the government's got to make it happen today.
All they do is create these things were becomes a giant money grab it seems like politically connected people always get a big chunk of that money and it comes at our -- you could.
-- -- you're at it you know not been a good viable company.
Anybody could see it they were the design company.
-- Tesla for example.
-- they were a company that invested for years worth of research into batteries.
They are a success story they got government funds and of course we gave money to.
The companies making batteries for the -- vote -- so in fairness.
There have been success stories.
They have been but -- -- too far and few between you know -- for instance to your point they started ahead for you had sort of this here.
And they did concentrate on actually a supply chain right they they concentrated on the nuts and bolts of business where it's -- wanted to get a sexy car out there and before they even get the kinks out of that they start talking about a second car they had no idea what they -- they were better properly.
And that just doesn't have to happen that way by the way test -- of the diamond Elon Musk who is respected around the world for PayPal and -- Lotto thing right.
He can raise money around the world that was a viable -- -- business.
Whereas this obviously was not in it was just a giant money grab and I think that's that argument -- by the way it's not just this.
The whole clean energy initiative if you will ninety billion that put in this stimulus package -- Is is wrong with this kind of stuff I I would like people to go look at some -- solar farms in America.
Look how many how much money was put into the by taxpayers a look at the permanent jobs created.
Wasn't Joseph the Biden supposed to make sure that all the money was well spent nobody messes with Joseph that -- the problem -- Joseph -- lean heavily on Corzine -- economic divide us though that you see that going on how to how -- god.
Charles -- your decision thanks.
Filter by section