The federal government guaranteed loans to a company that had owners who were major contributors to Obama's 2008 campaign. The company owners took big salaries and bankrupted the company. The taxpayers are on the hook for the loan.
This was a payoff from Obama to campaign donors, at taxpayer expense.
Obama's Solyndra Collapses
President Obama said during a 2010 visit to the company's headquarters. "Companies like Solyndra are leading the way toward a brighter and more prosperous future."
Solyndra closure affects foundation linked to Obama donor
Barack Obama, with Solyndra Chief Executive Officer Chris Gronet, looks at a solar panel, during a tour of Solyndra, Inc., a solar panel manufacturing facility, in Fremont, Calif. Solyndra received a $535 million loan from the U.S. government has announced layoffs of 1,100 workers and plans to file for bankruptcy.
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