by Robert P. Heslin, for ElectionDebates.com
When Mitt Romney hit President Obama with the accusation that the President has a knack for picking losers in the economic marketplace, he wasn't kidding. A brief review of the ever-lengthening list of Obama's bad bets is the best argument there is that government should stay out of venture capitalism. Electric car battery maker A123's bankruptcy declaration yesterday is the latest cautionary tale -- though it probably won't be the last.
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A123 SYSTEMS
Manufacturer of advanced lithium-ion (lithium iron phosphate) batteries and battery systems. |
Cost to
Taxpayers:
$249 Million |
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ABOUND SOLAR
Manufacturer of cadmium telluride thin-film photovoltaic modules. |
Cost to
Taxpayers:
$400 Million |
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ECOTALITY
Manufacturer of electric vehicle supply equipment.
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Cost to
Taxpayers:
$100 Million
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ENER1
Developer of energy storage technology and compact lithium-ion-powered batteries.
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Cost to
Taxpayers:
$118 Million |
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FISKER
AUTOMOTIVE
Manufacturer of plug-in hybrid vehicles. |
Cost to
Taxpayers:
$139 Million |
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FIRST SOLAR
Manufacturer of thin film photovoltaic (PV) modules, solar panels, and a provider of PV power plants and supporting services. |
Cost to
Taxpayers:
$1.2 Billion |
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GENERAL MOTORS
American multinational automotive corporation headquartered in Detroit, Michigan – the world's largest automaker, by vehicle unit sales. |
Cost to
Taxpayers:
$49.5 Billion |
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SOLYNDRA
Manufacturer of cylindrical panels of Copper indium gallium selenide (CIGS) thin-film solar cells.
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Cost to
Taxpayers:
$500 Million |
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