Solyndra. Oh, Solyndra. I'd love to relish in this disaster of a story but it's just so depressing. This type of backdoor bullshit is what's wrong with Washington, and "our savior" Saint Obama, who was supposed to be different, fell right in line with his predecessors. In summary, the government, in a push to be "green", backed a $535 million loan to Solyndra, a solar start-up. They would have just given the money directly to Solyndra but as you may know the country is broke so we cosigned on their loan instead. What happened? They went belly-up of course, and guess who's stuck with bill! I go into how the main culprits in this scandal are our President, his "people", and Goldman Sachs in this post which is a must-read. Jon Stewart also does a brilliant piece on the scandal. Now we've learned some new details about their $733M mega-factory. Bloomberg News reports:
It wasn’t just any factory. When it was completed at an estimated cost of $733 million, including proceeds from a $535 million U.S. loan guarantee, it covered 300,000 square feet, the equivalent of five football fields. It had robots that whistled Disney tunes, spa-like showers with liquid-crystal displays of the water temperature, and glass-walled conference rooms.
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