Soon after President Barack Obama took office in 2009 there were plans to loan billions of dollars to green energy companies in order to help the environment, but most importantly make more jobs for the people. What is Solyndra? They are a solar manufacturing company. They manufactured cylinder panels that could be placed on rooftops which were said to produce more electricity. It was said that these panels could absorb energy from any direction. Solyndra was a company that had applied for a loan and was approved in the year of 2009. The company assured that the 535 million dollar loan would create around 4,000 new jobs. The Obama administration was rushing in order for this loan to be dispersed sooner. A few months after Solyndra received their loan they filed for bankruptcy in September of that same year.
There is a lot of controversy behind this because many people say that Obama and his administration gave special treatment to Solyndra because of George Kaiser. Mr. Kaiser invested a lot of money into Solyndra and actually helped the Obama campaign in 2008. There are still investigations going on with this case. After Solyndra received this money they were spending it like crazy. I’m just shocked that the Obama administration was pushing for this loan to go through so fast and they didn’t even see the real trouble Solyndra was in. I think this is very unacceptable of people that are running our country. Scandals like this one shouldn’t even come close to happening.
http://theweek.com/article/index/219243/the-solyndra-scandal-a-guide-to-the-new-revelations
http://en.wikipedia.org/wiki/Solyndra_loan_controversy
http://www.nytimes.com/2011/09/24/opinion/the-phony-solyndra-scandal.html