On May 26, 2011, the White House posted this video praising Solyndra as a Recovery Act success story.
In August 2011, Barack Obama’s gleaming example of green technology – Solyndra – filed for bankruptcy. The solar panel manufacturer squandered $535 million of stimulus money in a little over a year.
Why Solyndra?
Top Obama bundler George Kaiser made multiple visits to the White House in the months before the company was granted a $535 million loan from the government. And top Solyndra officials also made numerous visits — 20 — to the White House, according to logs and reporting by The Daily Caller. Solyndra officials in the logs included chairman and founder Christian Gronet and board members Thomas Baruch and David Prend. The company secured the $535 million loan despite the fact that it was widely known Solyndra was in deep economic trouble and had negative cash flows since its inception.
Kaiser said he did not use political influence or talk to administration officials about a massive government loan to Solyndra. However, the Solyndra investor made multiple visits to the White House in the week before the Department of Energy approved a $535 million guaranteed loan to Solyndra on March 20, 2009
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