A bus company bankruptcy screamed “pump and dump” scheme according to a Fox News host demanding an investigation of the latest Solyndra-style Democrat dud.
(Video: Fox News)
Picking winners and losers has long been the modus operandi of the left, particularly when they are on the side of payouts. Amid concerns of conflicts of interest, the taxpayer-funded electric bus company Proterra has filed for bankruptcy and Jesse Watters raised the obvious questions about the shoddy investment.
“Proterra was Biden and Kamala’s golden boy. It was the company that was supposed to eradicate diesel,” the host said on “Jesse Watters Primetime” Tuesday. “Taxpayers were funding it and now the money’s gone. We don’t know how many possible hundreds of millions of dollars we lost. We don’t know where the money went.”
“But we do know this bankrupt electric bus company had access to at least $8 billion,” he noted.
Just one day after the company announced its Chapter 11 bankruptcy, Harris was touting electric bus manufacturing while in Philadelphia, Pennsylvania. “What the vice president didn’t tell you is America’s biggest electric bus company just went belly up,” Watters told viewers.
“In California the buses caught on fire, in Philly they broke down, and in Alaska, the batteries froze in the cold and in Minnesota, they stalled out on the hills. The wheels on the bus do not go ’round and ’round,” Watters laid out. “So why would the Democrats invest so much political capital and taxpayer capital in a broken electric bus company? Because it was a pump and dump scheme.”
Out of the suspected beneficiaries of the investment into Proterra, Energy Secretary Jennifer Granholm was the most noted as the House Oversight Committee had called out her violations of the Stop Trading On Congressional Knowledge (STOCK) Act that, in part, included her ownership of stock in the company while head of the DOE.
Watters called her out with others as he detailed, “Al Gore had millions invested in the company while he was lobbying the White House to herald it. George Soros had over $20 million invested in Proterra. Jennifer Granholm, Biden’s Energy Secretary sat on the company’s board. She held stock in Proterra while she was secretary and then sold it for about $1.5 mil.”
“Joe Biden even put the Proterra CEO on a prestigious government board and reports say Proterra insiders dumped their stock before the company went bankrupt,” added the host as he piled on concerning evidence in support of the scandal. “This was a political pump and dump — cash out before the crash.”
“Proterra’s stock is now worth $0.17 a share. This is like Solyndra,” he argued, reminding of the Obama-era solar panel company that received a $535 million DOE loan guarantee only to fold with other propped-up green energy companies. “House Republicans need to launch an immediate investigation into this taxpayer-funded scam that Biden donors and cronies made a fortune from.”
Many agreed with Watters as they shared their frustrations.
Keep paying taxes Americans, you need to make your politicians rich beyond their wildest dreams!
— Skonz (@theonlyskonz) August 9, 2023
Corrupt government only helps themselves.
— Michelle Ballard (@ballardsigns) August 9, 2023
ALL OF IT!!!
— Dave, NOT In CA anymore! (@aRealCArepub) August 9, 2023
Native of Brooklyn, NY, Kevin Haggerty is a graduate of Hunter College where he studied Cultural Anthropology and Geography. An avid reader and truth seeker, he currently resides in Texas with his wife and their dog and, when he isn't researching current events and their impacts, you'll find him spending time with friends and family or working on his next novel.
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