A number of new developments cropping up in the last week or so over the Solyndra solar power company bankruptcy look be making what was originally a slightly complex situation now look much more like a quagmire.
To recap, Solyndra, a early loan guarantee backee by the U.S. Department of Energy, filed bankruptcy and laid off 1,100+ workers. The GOP called it out a rat from the onset and the Obama administration defended it. The following has happened since then:
- Congress leaders called on Solyndra to compensate laid off workers.
- Employees filed a lawsuit claiming they weren’t notified properly.
- Taxpayers look to have taken a backseat to investors’ needs should liquidation of the company occur.
- The FBI and U.S. Department of Energy’s Inspector General Office raided Solyndra headquarters today.
We will continue to follow this story as it unfolds and what it might mean for the future of this type of program at the federal level.