DoE Dumps On Solyndra's Liquidation Plan
Just like a bad case of crabs, no matter how much you try to wash it away, it just keeps coming back to bite you. The U.S. Energy Department objected to Solyndra LLC’s bankruptcy plan, saying it fails to protect the government’s interest in collateral; via Bloomberg:
- *DEPARTMENT OF ENERGY OBJECTS TO SOLYNDRA'S BANKRUPTCY PLAN
- *SOLYNDRA HAS SPENT VIRTUALLY ALL SALE PROCEEDS, U.S. SAYS
- *SOLYNDRA PLAN FAILS TO PROTECT COLLATERAL INTEREST, DOE SAYS
We are going out on a limb here but the over/under for a Solyndra 'recovery' vs Greece 'recovery' is going the wrong way for the US government we suspect.