Solyndra

What is Solyndra? Solyndra is a green energy company that is based in Fremont, California. The company was struggling to stay alive, which lead them to turning to President Obama.

Why is it considered a scandal? The president signed a check for $535 million to help the company do what they had to do. Obama said that by doing this the company would help create jobs, provide to the economy, and help the idea of going green continue. After the loan went through and everything was said and done, the $535 million dollars that was loaned to Solyndra was a bust. The company filed for chapter 11 and laid off 1,000 workers.

The effects on people: Not only did the company lay off 1,000 people from their jobs, but the loan left the tax payers hanging. Some reporters think that tax payers may never be able to recover from losing all this money. With less money and not receiving anything they were promised caused the people to go in an uproar.

In conclusion Obama had bigger intentions for this company, but unfortunately his good intentions turned into one big mess. Tax payers are stuck paying crazy prices, thousands of people are out of a job, and the going green image is starting to make people, well, sick. Maybe this should have been looked into further before investing $535 million dollars into it.

http://www.huffingtonpost.com/2011/09/15/jon-stewart-obama-solyndra-scandal-video_n_965474.html

http://www.washingtonpost.com/blogs/the-fix/post/solyndra–explained/2012/06/01/gJQAig2g6U_blog.html

http://www.solyndra.com