Fremont, CA based Solyndra Inc. is one of the hyped job creation programs under the Obama administration using stimulus money and lots of it. By now, the entire world knows solar power company Solyndra Inc. went into Chapter 11 a week ago. The Federal Financing Bank, under supervision of the Treasury, provided a $528 million low-interest loan less than a year ago.
How can a company squander $528 million in one year? And where did the money go? That is public money. Those involved, from White House Aides to Solyndra officials need to go to prison with the key thrown away.
What happened at this company typifies what political influence can buy. We learned of a major investor in the now defunct solar company, also serving as an Obama fundraiser during the President’s White House campaign.We know, the solar company applied and was denied a federal loan by the Bush administration. Everything changed when Obama took office and Solyndra’s application for a federal loan went on a fast track. Mentioned major Solyndra investor went to the White House and saw senior Obama Aides more than a dozen times and in no time the federal loan came to fruition.
We live in an age of a dilapidated economy with persons going hungry – every day. Yet, here on recommendation of “Senior White House Aides”, who likely cannot spell, have no idea what a solar wafer looks like, much less how it works, hundreds of millions in dollars of the public’s money was wasted.
With Solyndra being investigated by the Treasury, the FBI, and several public watch groups, we only know this fact, the money is gone. How many other companies are out there? (that) also received loans under the stimulus job creation program? is unknown, however, we will learn of them in point of time.
We give away hundreds of millions in aid to African countries, the Middle East, we waste billions in unaccounted monies on construction programs in Iraq and Afghanistan, yet, our own citizen, without any political influence, go hungry.