Congress has been investigating the company, which received a $535 million government loan guarantee in March 2009 and announced August 31 that it is filing for bankruptcy. Yesterday's FBI raid is the first hint of a larger government probe, which is being conducted in cooperation with the Department of Energy's Inspector General. The FBI declined to comment. A Solyndra spokesman said it was surprised by the raid and is cooperating.Political connections can come back to bite you, when the politicians you were connected to need to gnaw through that connection and run like hell.
“Officials from the Department of Energy have for months been sitting in on board meetings as ‘observers’ at Solyndra, getting an up-close view as the solar energy company careened towards bankruptcy after spending more than $500 million in federal loan money.” Probably felt just like being back at the federal government, which is careening toward bankruptcy after spending more than $15 trillion in loan money . . .