Toshiba’s Westinghouse Nuclear Declared Bankruptcy; US Taxpayers and Ratepayers Left on the Hook for Billions?

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With Toshiba’s Westinghouse subsidiary filing for Chapter 11 bankruptcy, the US taxpayer could end up losing billions due to the Federal loan guarantees facilitated by a Republican Congress in 2005, and handed over by Obama, and the head of the US Dept of Energy, Ernst Moniz. Obama was apparently owned by the nuclear industry, especially Exelon

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Even with gross subsidies, the nuclear industry is not viable. “Westinghouse Electric Company filed for Chapter 11 bankruptcy protection Wednesday, saying it needed to restructure because of “certain financial and construction challenges” from its nuclear power plant projects.” http://www.voanews.com/a/westinghouse-chapter-11-bankurptcy/3786377.html

With Toshiba’s Westinghouse subsidiary filing for Chapter 11 bankruptcy, the US taxpayer could end up losing billions due to the Federal loan guarantees facilitated by a Republican Congress in 2005, and handed over by Obama, and the head of the US Dept of Energy, Ernst Moniz. Obama was apparently owned by the nuclear industry, especially Exelon, and the wife of Moniz has Japanese roots. Ratepayers have been, and will be, scammed, as well. The chance of losing the taxpayer money was known to be in the range of 40 to 50% based on history, but it’s not their money so they didn’t care.

The Federal loan guarantee was given…

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