Solyndra Logo

Solyndra was a new and upcoming company that developed and produced solar panels, they were known as a “green” company. Before the government, specifically the Obama administration got involved with Solyndra they were relatively unknown to the general public. In 2009 the Obama administration and the federal government guaranteed and co-signed a loan worth $535 million dollars to Solyndra. This loan was going to create thousands of jobs, add exponential growth to the company, the end product being solar panels to help harvest “green” energy. Sounds like a win win, right? Not so much. In September 2011 Solyndra filed for bankruptcy leaving the Federal Government stuck with a $535 million dollar loan to pay back. To make matters worse was the question, where is that money coming from? American taxpayers. How could the government had invested and backed such a bad business deal, and company? Were the intentions of the deal moral? Did inner circles enable sour deals to be made? Was the $535 million truly intended to go to the company from the start? All of these questions have been asked among the general public, leaving a bad taste in their mouth along with questions about the presidents intents. The government has been accused of rushing the deal through without taking proper precautions in order to satisfy its own agenda. Solyndra executives donated over a million dollars to the Obama administration, friendships were called into question. In late 2011 just after the company filed for bankruptcy a federal investigation was launched on executives of the company.

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The whole deal seems shaky at best. How could our government invest in such a bad deal? There must have been other intentions. This scandal, unfortunately is nothing new. It’s happened before and is bound to happen again. The way in which our government is structured almost opens its doors, welcoming bad deals like this to happen more often. There needs to be more separation between personal business relationships and governmental relationships.

http://en.wikipedia.org/wiki/Solyndra_loan_controversy

http://articles.chicagotribune.com/2011-09-18/news/ct-met-kass-0918-20110918_1_solyndra-loan-guarantee-obama-fundraisers-obama-white-house

http://www.nytimes.com/2011/09/24/opinion/the-phony-solyndra-scandal.html