The U.S. Department of Energy learned in December that Solyndra was violating its federal loan deal, but the agency changed the loan terms to allow the solar company to continue receiving taxpayer funds, federal officials confirmed Wednesday.
Sheesh, hand me a clothespin, because this is getting really stinky. Sure, loans often get re-negotiated. But Solyndra couldn’t make a $5 million payment in Dec. 2010 so DOE then loaned them $535 million more? This almost certainly will be Obama’s first major scandal and deservedly so.
And did they have to spend such lavish amounts on their new factory when space was already available?