Solyndra: So Bankrupt, So Many Questions for the White House

Crony Capitalism and the Failed Green Energy Dream

Washington—Today, the House Energy and Commerce Subcommittee on Oversight and Investigations conducted a hearing on the bankruptcy of Solyndra, the recipient of a $535 million federal loan guarantee and the poster child of President Obama’s green stimulus.  The Institute for Energy Research released the following video highlighting the questionable ties between Solyndra and the Obama administration.

Click the video or here to watch.

Unfortunately, as both the video and the House hearing shows, it may be a very long time before we finally get some answers.

In response to Solyndra executives pleading the fifth and the release of IER’s latest video, IER President Thomas Pyle issued the following statement:

“While the story of Solyndra is only now beginning to unfold, what we do know is the Obama Administration has much to answer for.  The American people have been led down the primrose path with the promise of green jobs and now the American taxpayer is even further in the red.

Government subsidies for so-called green energy are not creating jobs, not producing affordable energy, and wasting taxpayer money.  President Obama’s green dream is becoming a taxpayer and economic nightmare.”

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