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Barack Obama’s record of success as an investor continues unabated, as Lachlan Markay of the Heritage Foundation reports that another Administration-subsidized “green energy†company has filed bankruptcy: The company, Ener1, received a $118 million grant from DOE in 2010 as part of the president’s stimulus package. The money, which went to Ener1 subsidiary EnerDel, aimed to promote renewable energy storage battery technology for electrical grid use. But despite generous federal support for the company, Ener1 was racked by problems last year. In October, NASDAQ delisted the company due to non-compliance with Securities and Exchange Commission filing requirements. A month later, the company’s president, chief executive, and top financial officer were fired. […] Ener1 is not the first energy storage technology company to file for Chapter 11 after receiving significant stimulus support. Beacon Power, which manufactures flywheel energy storage technology, received a $43 million loan guarantee from the same stimulus program that funded Solyndra. Despite having used $3 million marked for loan repayment to continue funding its daily operations, Beacon filed for Chapter 11 in November.<excerpted>
recurring theme
I think the term you're looking for is "serial offender."
You know, this is why people are afraid of letting the government invest Social Security funds in the stock market...you'll have idiots like Obama controling using investments to further their socialist ideals.
flywheel energy storage technology