After trying and failing to pin the Solyndra debacle on the Bush administration, the left is trying another dubious spread-the-guilt tactic. Think Progress breathlessly reports that a solar company that Mitt Romney gave a government grant to as governor has just declared bankruptcy:
On Thursday, Mitt Romney campaigned at the headquarters of Solyndra — the first renewable energy company to receive a federal loan under the stimulus — and reiterated his debunked claims that its bankruptcy symbolized the corruption and cronyism of the Obama administration. But just one day later, a solar panel developer “that landed a state loan from Mitt Romney when he was Massachusetts governor” went belly up, the Boston Herald reports, creating an inconvenient storyline for the GOP presidential nominee.
The company, Konarka Technologies, “filed for Chapter 7 bankruptcy protection and will cease operations, lay off its 85 workers and liquidate.”
Here’s a rundown of the case: As governor, Romney granted Konkara a $1.5 million state subsidy, about 350 times less than the half-billion dollar loan guarantee the Obama administration gave Solyndra. Konarka declared bankruptcy nearly a decade after Romney’s grant and five years after he left office, while the Obama administration’s investment tanked within two years.