Solyndra Bankruptcy and Obama Administration

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The collapse of Solyndra Corp, a California based solar maker has subjected the Obama Administration to more than just nation-wide criticism and embarrassment. It has cost US taxpayers $535 million in a loan guaranteed by the government.

Now the knives are out and the public is looking for answers. It appears the government might have been too hasty in backing Solyndra that it ignored the fact that the company might not be a worthwhile investment. In addition, now there is talk that Solyndra executives might have lied to federal officials about the company’s prospects and that political cronyism was at play in the decision...

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Published In: Bankruptcy Updates, Elections & Politics Updates, Energy & Utilities Updates, Environmental Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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