The Solyndra Corporation was granted a loan of 535 million dollars by president Barack Obama in 2009 so that the corporation could spur alternative energy growth. By doing this, the corporation would have created about 4,000 new jobs, but instead Solyndra filed for chapter 11 bankruptcy a few years later and laid off almost all if their employees.
The Solyndra Corporation received the loan so that it could open a new manufacturing facility so they could make their unique solar panels. The problem with the solar panels is that they where too expensive and they didn’t have enough people to buy them. But when the corporation filled for bankruptcy, the government wound up having to pay off the loan itself.
http://en.wikipedia.org/wiki/Solyndra_loan_controversy
http://www.nytimes.com/2011/09/24/opinion/the-phony-solyndra-scandal.html
What do you think? Do you think Obama should be blamed?