Posted on 09/08/2011 11:59:56 AM PDT by bestintxas
FBI agents on Thursday executed search warrants at the headquarters of Solyndra LLC, which was awarded more than $500,000 in federal stimulus loans in 2009 to make solar panels in what the Obama administration called part of an aggressive effort to put more Americans to work and end U.S. dependence on foreign oil.
But the company filed a bankruptcy petition Tuesday in Delaware, asking a court to bar phone, electricity and water and sewer service providers from “altering, refusing or discontinuing service,” and now is the focus of an investigation by the FBI and the Energy Department's Office of Inspector General.
FBI spokesman Peter Lee said he could not provide details about the investigation.
A little more than a year ago, President Obama hailed Solyndra during a tour of the company, saying it expected to hire 1,000 workers and make enough panels over the lifetime of its planned expanded facility that it would be like replacing eight coal-fired power plants.
“It’s here that companies like Solyndra are leading the way toward a brighter and more prosperous future,” Mr. Obama said.
The FBI executed search warrants at the headquarters of the firm, which received a $535 million loan from the federal government. (Associated Press)The company’s bankruptcy petition came two years after Energy Secretary Stephen Chu and Vice President Joseph R. Biden announced approval of $535 million in federal loans to Solyndra.
(Excerpt) Read more at washingtontimes.com ...
I believe that it was $500 million, not $500 thousand.
Your title is wrong. Hundreds of Millions not Hundreds of Thousands.
Is that a typo in their article?
Everywhere is reporting that it was a $535 million loan (which is gone) - not “over $500,000”. Are they trying to make it look like only 1/2 a million to hide the nearly 1/2 a billion later in the article? Am I missing something?
Great minds think alike!
A half-billion is government handouts gone in two years, everyone laid off, and the officers of the company just smile and say gee whiz, sorry it dodn’t work, gotta go now...
LOL, this level of crass greed only can happen in the SF Bay Area. Not even in Chicago or New York or LA are people as outright brazen greedy frauds as they are in Pelosi Country.
This co must be run by a bunch of white people.
If we lived in a just country, FBI would raid NEA and all service employee gub'mint unions who got the rest of our $$$$$!
“Your title is wrong. Hundreds of Millions not Hundreds of Thousands.”
Dont blame me, just look at the article and call washtimes if you feel it is wrong.
Typo, the Wash Times is a conservative newspaper
Is the FBR armed with flame throwers. Lot to cover up using conventional methods.
Well, there goes all THAT evidence that will never be seen again.
Holder tying up all the loose ends.
They dropped a few zeros there.
S/B over $500,000,000
Call me unsophisticated but I can’t believe for a minute that all of this money was legitimately spent(wasted). I’m betting we’re going to be finding out in the weeks and months ahead just what sort of shady characters with chequered careers were running Solyndra and how much money went to Cayman Islands accounts or was spent in living large. Oh, and maybe that just some of that money found it’s way back into the pockets of Obama and his cronies.
This is a half-BILLION dollars we are talking about here!
-——Solyndra LLC, which was awarded more than $500,000 in federal stimulus loans-——
On another thread today it was noted that Solandra received Federal Loan Guarantees. That is, the funds did not come from the government but from banks with the Feds as co signer.
That raises a big issue. If the funds are not actually provided under the stimulus appropriations, is there a big pool of non appropriated loan guarantees out there to make things worse still?
Do bank guarantees require quantified congressional approval?
Article missing three zeros. I agree that this could unravel his “residency”.
This raid is about collecting all the company’s records so the corruption tying the Obama administration to the company can never be known to the public.
A relevant question is the professional predigree of the founders; for a startup, even $20 million is a LOT. HALF A BILLION? The founders had better have DECADES of experience in solar.
If not? It screams, “pay off”.
Read the article if you want to see if it’s wrong or not.
which received a $535 million loan from the federal government.
$535 million loan
FR Keyword: Solyndra -— $535 million loan
at least a dozen articles
Admin Mod: Wash Times headline and sub-headline
FBI raids solar panel company hailed by Obama
Firm got $500,000 in stimulus funds
Wash Times got it wrong. Can you reflect correct $?
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