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FBI raids solar panel company hailed by Obama

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hypocritexposer

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Heard a caller on the Levin show last night that worked at the plant. She said that when obama was there, it was well known that it would never fly.

FBI agents executed search warrants Thursday at the California headquarters of Solyndra LLC, which was awarded more than $500 million 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 firm filed a bankruptcy petition Tuesday in Delaware, shedding more than 900 full-time employees, leaving just a “core group” of 113 employees, according to bankruptcy records.

FBI spokesman Peter D. Lee said multiple search warrants were served at the company’s Fremont, Calif., headquarters in what he called a joint investigation by the FBI and the Energy Department's Office of Inspector General. But he said he could not provide any details about the ongoing probe.

http://www.washingtontimes.com/news/2011/sep/8/fbi-raids-solar-panel-company-hailed-by-obama/
 

hypocritexposer

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According to White House visitor logs, between March 12, 2009, and April 14, 2011, Solyndra officials and investors made no fewer than 20 trips to the West Wing. In the week before the administration awarded Solyndra with the first-ever alternative energy loan guarantee on March 20, four separate visits were logged.

http://dailycaller.com/2011/09/08/solyndra-officials-made-numerous-trips-to-the-white-house-logs-show/
 

Tex

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You can't borrow yourself out of a manipulated market. If China wants, as a national policy, to undercut all U.S. manufacturers, they can.

I don't know that this is the extent of the issue on this company, we will have to wait and see.

Tex
 

hypocritexposer

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Tex said:
You can't borrow yourself out of a manipulated market. If China wants, as a national policy, to undercut all U.S. manufacturers, they can.

I don't know that this is the extent of the issue on this company, we will have to wait and see.

Tex


The issue with this company is that they had a poor business plan, before they were ever given loan quarantees from the government.

Don't they have somebody analyzing these companies before they give them half a $Billion?

In a lot of cases, I have no problem with the taxpayer making an investment in a company, but it also better yield some sort of profit back to the taxpayer.

but the Government is not run as a business, as it should be.
 

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