National Review

Wed, 2011-09-14 12:48Steve Horn
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Solyndra Solar Panel Corporation Scandal Ablaze - ThinkProgress Sets Record Straight

The ongoing scandal continues to blaze at Solyndra. Solyndra Corporation, a San Francisco Bay area solar panel start-up company, is under fire in the immediate aftermath of its August 31 filing for Chapter 11 bankruptcy and laying off over 1,000 workers, which is roughly one-fourth of those who were employed by Solyndra at the time.

Shortly after this development, on September 8, Solyndra was raided by the Federal Bureau of Investigation.  

Critics, such as climate change denier and Republican Party Presidential candidate Michele Bachmann, are referring to the deal as "crony capitalism" gone arwy. In an interview with Fox News' Greta Van Susteren, Bachmann stated, "This is what the American people don't want. They don't want crony capitalism. It infuriates them. We saw that with President Obama, when we saw over $500 million dollars go to Solyndra, who was a political donor of President Obama."

The $500 million Bachmann is referring to is a loan guarantee that was given to Solyndra from the Obama Department of Energy in March 2009.

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