From the Washington Post

FBI searches offices of Solyndra; lawmakers say they were misled about firm’s finances

By Carol D. Leonnig and Joe Stephens,

FBI agents executed a surprise search Thursday of a Silicon Valley solar company that collapsed last week, in an investigation that appeared to center on half a billion dollars in federal loan guarantees granted to the company by the Obama administration.

The search at the offices and plant of Solyndra, a California-based manufacturer of solar panels, came as Republicans on Capitol Hill demanded answers to questions about the company’s selection for the $535 million Energy Department loan guarantee. Some Democrats questioned whether the company misled federal officials about its deteriorating financial condition.

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COMMENTARY: Stories like this are why the American puiblic increaasingly does not trust the federal government to create jobs and solve problems.

The Obvama Administration gave this outfit a $535 million loan guarantee and touted this comoany as the future for renewable energy and jobs creation.

Looks like Obama got bamboozled. And us taxpayers are stuck with yet another bill from a corporate scamster.

SolarGate and green jobs

Solar company to file for bankruptcy despite $535 million loan guarantee

This entry was posted on Friday, September 9th, 2011 at 7:38 am and is filed under economy. Tags for this post: obama, renewable energy, solar. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.