Mitt helped dud power company too
MITT ROMNEY has made a bankrupt solar power company the symbol of President Obama’s inability to jump-start the economy — but he has a similar failure on his résumé, according to a report.
Romney has repeatedly ripped the Obama administration for sending federal funds to Solyndra, a California alternative energy company that went belly up.
Decrying the White House’s decision to give Solyndra a $535 million federal loan as “crony capitalism,” Romney even held a surprise campaign stunt at the Solyndra plant Thursday.
But a day later, a Massachusetts solar panel company that received a state grant while Romney was governor filed for bankruptcy, the Boston Herald reported.
Romney awarded a $1.5 million renewable energy subsidy to Konarka Technologies, based in Lowell, a short time after he took office in 2003, the Herald said.
That company filed for Chapter 7 bankruptcy protection and laid off 85 workers.
The Obama campaign was quick to pounce on the apparent double standard.
“Every day we see a new example of Mitt Romney’s hypocrisy,” said Obama spokeswoman Lis Smith. “Mitt Romney may think he can play by a different set of rules, but he can’t hide his history of giving millions of dollars in government loans to campaign donors.”
The Romney campaign did not immediately comment on the report.