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bankrupt solar company

Fremont : CA : USA | Sep 01, 2011 at 12:13 PM PDT
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Obama has gone into attack mode as he tries to save Democrats from a drubbing in November elections

A solar energy company that intends to file bankruptcy received $535 million in backing from the federal government and has a cozy history with Democrats and the Obama administration, campaign finance records show.

Shareholders and executives of Solyndra, a green energy company producing solar panels, fundraised for and donated to the Obama administration to the tune of hundreds of thousands of dollars.

Tulsa billionaire George Kaiser, a key Obama backer who raised between $50,000 and $100,000 for the president’s election campaign, is one of Solyndra’s primary investors. Kaiser himself donated $53,500 to Obama’s 2008 election campaign, split between the DSCC and Obama For America. Kaiser also made several visits to the White House and appeared at some White House events next to Obama officials.

Campaign finance records show Kaiser and Solyndra executives and board members donated $87,050 total to Obama’s election campaign.

And now, just two years after securing a half-billion-dollar federal loan, Solyndra has said that it will declare Chapter 11 bankruptcy.

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Austan Goolsbee (L), a senior economic adviser to the Obama campaign, seen with then President-elect Obama in 2008.
Austan Goolsbee (L), a senior economic adviser to the Obama campaign, seen with then President-elect Obama in 2008.
shaashaa is based in Mumbai, Maharashtra, India, and is a Stringer on Allvoices.
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