The Obamanation

[classicman]

‎Solyndra

"The DOE pushed the loans through. At the time, it was seen as a great use of stimulus funds. The funds would help build the factories, creating construction jobs, and would then lead to more jobs within the factory itself. It was a perfect photo opportunity.

Florida Congressman Cliff Stearns, Chairman of the House Energy and Commerce Committee’s Subcommittee on Oversight and Investigations, warned Solyndra had not been properly vetted. “For months, we have been investigating how and why nearly half a billion dollars in taxpayer money was committed to this financially troubled company” he said.

There has been some talk that the loan was related to President Obama’s relationship with philanthropist George Kaiser, who is also a major investor in Solyndra. Kaiser raised money for Obama’s election."

Link
Some video coverage from ABC here
This could be rather damaging to the "different than the last guy" or the "transparent" administration. The timing isn't so good either. I wonder if this is simply one bad deal of many or if there is a trend. It seems there are a couple other solar companies who received stimulus money which failed a well.
I applaud the administration for investing in renewable energies, but this instance looks more like a payback to a major campaign contributor.