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.
Energy spokeswoman Karen Sulier confirmed that the department was involved in the investigation but would not elaborate. Solyndraspokesman David Miller said the company was cooperating in the investigation but did not know the reason for the search.
News of the raid prompted key Republicans in Congress, who already were investigating the loan to the company, to issue a statement calling for answers from the company.
Thursday, September 8, 2011
Unbelievable. A week after Bay Area solar panel company filed for bankruptcy, the FBI has raided the Green company's corporate offices.
The right-wing paranoia aspect of this raid is that the feds are not seeking evidence, but grabbing incriminating documents and sequestering them in the Justice Department. Eh.
Better is the progressive criminality aspect, which is so delicious it's almost chocolate flavored. Conservatives have to listen to liberals talk about how smart they are, how rational they are; and, contrariwise, how dumb and "anti-science" we are. But, I don't remember conservative leaders lining up to praise the expenditure of public money on a corporation that could not make it in the market place on its own, but was able to collect $500 million because its executives were Obama donors. You know how there's "book smart" and then there's "street smart?" This is Exhibit A.
There's also a report out there that Solyndra executives visited the White House no less than 20 times, no doubt bringing extra bags to carry all of that stimulus money that Barak Obama, Joe Biden, and Steven Chu noisily gave them. Honestly, these guys would have been perp-walked in orange jumpsuits during a Republican administration, while liberals railed about Republican corruption. But, at least we don't countenance a fraud like green jobs.