Every now and then I post an article about a story that I totally do not understand. This is one of those times. If anyone reading this can shed some light on what actually happened in this case, please comment.
Yesterday the Washington Times posted an article about the list of creditors in the Solyndra bankruptcy case. The Solyndra bankruptcy case is already being looked at closely because of the amount of government money loaned to the company despite indications that the company’s business plan was not viable. Now the “creditor matrix,” a document which is a standard filing in a bankruptcy case, reveals that the California Democratic Party is listed as a creditor of Solyndra.
The article at the Washington Times reports:
The company (Solyndra) had its own in-house team of lobbyists, but it also hired three other Washington lobbying firms: McAllister & Quinn, Washington Tax Group and McBee Strategic Consulting.
Many of the lobbyists previously worked in government for Democratic and Republican lawmakers alike. They included former aides to lawmakers such as Sen. Alfonse D’Amato, New York Republican; Sen. Maria Cantwell, Washington Democrat; and House Minority Leader Nancy Pelosi, California Democrat.
From 2008, when the company spent $160,000 on lobbying, to 2010, when it spent $550,000, lobbying expenditures increased nearly 250 percent, according to the Center for Responsive Politics.
It makes you wonder how much money actually went into producing a product.
Please follow the link to the article at the Washington Times. There are a lot of questions about Solyndra–including why its executives pleaded the Fifth Amendment when they were called before Congress. The article in the Times also points out some very interesting connections between some of the people involved in this company and major donors to the Obama campaign.