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Scott Johnson:

Solyndra proved to be a model alright — a model of the wreck Obama has made of fiscal and economic policy, a model of crony capitalism, a model of waste and/or corruption.  Solyndra has filed for bankruptcy and laid off 1,100 workers.  Before filing for bankruptcy Solyndra blew through the $535 million loan guaranteed by taxpayers’.

On the morning of Obama’s job’s speech on Thursday, FBI agents executed a search of Solyndra’s headquarters.  Now ABC reports that federal agents have paid a visit to the homes of Solyndra CEO Brian Harrison, company founder Chris Gronet, and a former executive. ABC also reports that Department of Energy officials have been sitting in on Solyndra board meetings for months as observers, getting an up-close view as the company burned through its cash.

Check out the White House’s celebration of “Solyndra: Illustrating a Recovery Act Supply Chain” and “what the television cameras won’t capture are the indirect benefits of supporting Solyndra.  The impact of Solyndra’s success is being felt throughout the chain of companies …”  blah blah blah.  Now, of course, the company is bankrupt, over a 1,000 have lost their jobs, and according to court documents, the US government stands behind private investors before it can hope to recover any of its “investment” (read: guaranty) in a sale / liquidation.

Hope.  And Change.  Crony Capitalism Illustrated.

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