Solyndra Sure Sucks for Obama

 

“So this is what’s gonna bring me down….”

 

You know how you love something so much that you give it $530 million to watch it grow and use it as a model for the future only to watch it go bankrupt and embarrass the shit out of you? Me neither, but President Obama sure does.

Barry O has always pushed for America to be the leader in green technology and sources of renewable energy. In his last State of the Union, he singled out a solar-panel production company, Solyndra, for leading the way in green production. Obama loudly praised and bragged about Solyndra because it was a company the White House targeted in 2009 to receive Federal Stimulus Money to spur production; since 2009 they collected more than $530 million in Federal funds.

Solyndra was supposed to be a model for the job creation potential of green energy production, yet instead it filed for bankruptcy, laid off more than 1100 workers, and closed its doors on September 6th. The FBI raided Solyndra’s San Francisco offices soon thereafter.

$530 million is a lot of money to throw behind a company that is now bankrupt, and many want to know where the hell it went.

Did the White House just make a bad bet and back the wrong horse, or is there something sinister and shady going on?

Embarrassing emails and testimony have been uncovered that show many already knew Solyndra would be an economic failure based on an extremely poor business model (panels cost $6 to make, but they sold them for $3). Some studies even explicitly predicted the company would run out of money in September 2011.

Why would Obama push so hard to support a company that many advisers said was a piece of crap?

Is it another example of wanting to push policy so bad that hope takes over and pushes rationality to the side? Even though it sucks to lose $530 million on a bad investment, its not criminal…UNLESS there is some serious impropriety behind why Solyndra still got the Stimulus money in light of the concerns.

Where did the money go? If it ended up in Solyndra Management/Officers pockets, we’ve got a big problem. 

The other problem…Solyndra isn’t the only green company to receive Federal Stimulus money and go bankrupt soon after.

Republicans are jizzing their pants with this one, so we’ll be hearing about this one at least until the November 2012 election. They’ll dig into every possible crevice to find something to impeach Obama on and tell us how horrible he is for trying to make the world a cleaner place.

Its a gross fiasco, and will be interesting to see where the chips fall. It sure ain’t easy being a green President.

 

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Be sure to check out:

Solyndra, the tip of the iceberg — UPI.com

Solyndra and the White House – CBS News.com