When the Government Stands Up for Taxpayers – FINALLY!
Yes, you read that headline correctly, and no, it’s not April Fools’ Day. The Department of Treasury is seeking to recoup taxpayer dollars it dispensed in the form of a loan guarantee to Thompson River, a now-bankrupt green energy company. Perhaps as infrequent as Haley’s comet, it’s worth marking the day that Washington seeks to mitigate the harms it has inflicted on taxpayers. No different from the other green energy companies who went into bankruptcy despite receiving government loan guarantees and/or cash grants, Thompson River attempted to provide a product that lacked commercial viability. And so despite the $5 million (to be exact: $5,172,064.80) in taxpayer money, Thompson River was unable to compete in the market. However, thanks to Treasury’s recent announcement that it will seek to recover the $5 million in lost taxpayer money, we can be encouraged that the government will begin to seek funds from other green energy companies that have failed. Hopefully the trend of the government attempting to get our hard earned money back from companies that should never have received it in the first place will replace and put to bed the trend of the government using your money to back industry losers.