The Schott Solar disaster isn't an isolated incident of bad judgment. It is the tip of the bad investment iceberg. Just a half an hour of internet searching revealed an almost endless supply of news stories involving Representatives Martin Heinrich and Ben Ray Lujan as well as Senators Tom Udall and Jeff Bingaman touting companies such as bankrupt Advent Solar and Schott Solar. All four men believed these debacles were worthwhile places for taxpayer money to go to "create jobs.
Three years ago all four of the Democrats New Mexico voters sent to Washington suggested these failed companies (Schott and Advent Solar) were the way of the future for economic development in New Mexico.
In the end, in throwing millions of taxpayer dollars, tax credits, and federal subsidies at their the green job darlings, all four of the Democratic members of the New Mexico delegation were duped into blowing taxpayer funds on losers.
In referencing the Obama stimulus package passed back in 2009, Senator Udall's website actually gave credit Jeff Bingaman for ensuring a 30% tax credit for Schott and Advent was included in the massive stimulus bill financed with.....you guessed it.....debt.
In yet another embarassing green job fantasy debacle Jeff Bingaman was actually captured on camera after doing virtually zero due diligence when he voiced his support for a never to get off the ground Green2V. Green2V was a shell company allegedly based in Phoenix that also snared the ever-gullible and corruptible Bill Richardson in their attempted public funding scam.
New Mexico voters will have to wait until 2014 to replace Udall. However, with Bingaman mercifully retiring, Lujan running to retain his seat, and Heinrich abandoning his house seat to run for the Senate, voters have the opportunity to see the NM delegation purged of three fools in one year.
Originally posted at NewsNM
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