Most persons in the US have never heard of the Spanish renewable energy and engineering giant Abengoa. That’s exactly how the DC cronyists and mainstream media like it. But the Abengoa bankruptcy scandal may erupt to be the October Surprise of 2016. It’s 100X as large as Solyndra. Abengoa was the for profit arm of the Clinton Climate agenda. Check out the major players from the Rockefeller Foundation, MacArthur Foundation, The Brookings Institute, HUD, Fannie Mae, NSA, CIA veterans, etc. They were bankrupt in 2009 but hid it for 7 years playing games and looting banks and shareholders since. No more games.
The world player in solar and wind power, biofuels and water management announced last year that it was filing for preliminary protection from creditors following years of frenzied, unsustainable expansion worldwide. It has launched a recovery plan that includes the sale of biofuels assets and other non-strategic holdings, as well as job cuts — it has already shed at least 11,000 jobs since the end of last year — and finalised a debt restructuring deal in August. The group now has until October 25 for creditors and investors to sign off on the deal, which would see it receive a cash injection of 650 million euros on top of loans already granted to the company. Abengoa’s billions-strong debt has affected many of its projects around the world, which it has either been unable to keep constructing or operating.
US Taxpayer losses? Tens of billions. Let’s see what Trump makes of this in the next debate.
HT to Steve Smith10:41 am on October 2, 2016 Email Charles Burris