'Your papers, please' must never be heard in America
Independent voices from the TWT Communities
Out of the hundreds of out-of-work employees, vendors, investors and other creditors in the bankruptcy of government-backed solar-panel maker Solyndra LLC, one name stands out: the California Democratic Party.
Solar panel maker Solyndra's chief executive traveled to Washington and met with members of Congress.
Executives at bankrupt Solyndra, which collapsed last month after receiving more than a half-billion dollars in federal loans, plan to refuse to testify in a congressional hearing Friday now that the FBI is investigating the company.
U.S. taxpayers risk losing more than a half-billion dollars from the collapse of solar-panel maker Solyndra Inc., but former Massachusetts Gov. William F. Weld and his associates stand to earn a windfall in fees representing the bankrupt company in coming months.
FBI agents on Thursday executed search warrants 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.
When Energy Secretary Stephen Chu announced a half-billion dollars in federal stimulus loans to solar panel maker Solyndra, he called the move part of an aggressive effort to put more Americans to work and end U.S. dependence on foreign oil.
Lawyers for the company's chief executive officer, Brian Harrison, and chief financial officer, W.G. Stover Jr., said in a letter to the House Energy and Commerce Committee that the executives would invoke the Fifth Amendment in response to any questions.
The company's chief financial officer, W.G. Stover Jr., said in bankruptcy filings that Solyndra's collapse was fueled by, among other things, an oversupply of solar panels.