Another great moment in the histroy of crony capitalism (An update)

While the Feds and Congressional committees will be asking the hard questions of just who it was in the administration that signed off on those loans to Solyndra, why don't we just go to the good people of Solyndra themselves as they appear confident as to who gave the go-ahead for that $535 million loan guarantee at below market interest rates.

From Solyndra's website:

Fremont, CA, March 20, 2009 – Solyndra, Inc. announced today that it is the first company to receive an offer for a U.S. Department of Energy (DOE) loan guarantee under Title XVII of the Energy Policy Act of 2005. Solyndra, a Fremont, California-based manufacturer of innovative cylindrical photovoltaic systems, will use the proceeds of a $535 million loan from the U.S. Treasury’s Federal Financing Bank to expand its solar panel manufacturing capacity in California.

“The leadership and actions of President Barack Obama, Energy Secretary Steven Chu and the U.S. Congress were instrumental in concluding this offer for a loan guarantee,” said Solyndra CEO and founder, Dr. Chris Gronet. “The DOE Loan Guarantee Program funding will enable Solyndra to achieve the economies of scale needed to deliver solar electricity at prices that are competitive with utility rates. This expansion is really about creating new jobs while meaningfully impacting global warming.”

(italics, ours)

This was still on their website as of this A.M. (H/T: The Corner)



And when you lose Jon Stewart...