Making it up? Never +Warren Dew
Here are 3 quick examples, including one company the GOP attacks Obama for, but Gov. Romney invested taxpayer dollars in first
Romney also presided as Massachusetts governor over the award of $4.5 million in state loans to two biotechnology firms that later went bankrupt, costing taxpayers and jobs. http://abcnews.go.com/blogs/politics/2012/06/romney-and-obama-duel-over-solyndra-investment-records/
Evergreen Solar received $2.5 million from the Romney administration for a “major expansion and to cover operating losses as it tried to become profitable,” according to a February article in Politico. The investment was part of a broader program in which the Romney administration gave millions in subsidies to multiple other companies, Politico reported. http://www.washingtonpost.com/blogs/plum-line/post/crossroads-ad-slams-obama-over-company-that-got-taxpayer-money-from-governor-romney/2012/05/31/gJQA3YAm4U_blog.html
The Crossroads video, attacking Obama, cites the Massachusetts company Evergreen Solar as an example of a company that received taxpayer money before declaring bankruptcy or suffering
“serious financial issues” — which the video derides as a “risky investment strategy.”
Seems Romney invested Taxpayer dollars in Evergreen Solar, first
Another: 3 of 6 companies Gov. Romney invested tax payer money into are either closed or on the verge of bankruptcy.
In 2003, Romney launched the Massachusetts Green Energy Fund, a $15 million project aimed at providing "an opportunity to capitalize on two emerging trends: the growing level of investment interest in clean energy and the importance of Massachusetts' academic and corporate R&D in forming clean energy technology companies," according to its website.
At the time, Romney called the fund a "springboard for the commonwealth by focusing on job creation in the renewable energy sector."
And it is in the nature of venture funds that some of their projects fail. That's why the private sector funds can get such high returns, and why some energy projects seen as having a huge public upside -- from nuclear to solar -- have convinced government officials to back them.
And so while Romney has criticized Solyndra on the campaign trail as a major failure of the Obama administration, his Green Energy Fund invested in several companies that have since failed or not lived up to expectations.
Of the six companies listed in the fund's portfolio, three are either struggling or have shut down completely.http://bungalowbillscw.blogspot.com/2012/06/romneys-green-energy-initiatives-failed.html