The FBI had warrants ready Thursday to go to the door of Solyndra LLC in California at its HQ. Your probably wondering why the panic well the company was awarded more then $500 million in federal stimulus loans in 2009 to make solar panels. In Delaware the firm filed a bankruptcy petition Tuesday which meant they were shedding 900 full time employees and just leaving 113 core employees. Well the Obama administration called the company an “aggressive effort to put more Americans to work and end U.S dependence on foreign oil”. If the company could not fully make a profit on its amazing solar panels then why would the government give such a loan? There are hundreds of solar company’s out their doing great who would have done alot better if gotten the money. This is a huge mistake by the government to put our money in the right companys. The Energy spokesmen is not commenting any further into details but huge disappointment.
Solar Tech – FBI Raids Solar Company Government Failure