Where are all those green jobs Barack Obama keeps promising? Do not hold your breath waiting. The California-based company Solyndra is just the latest to file bankruptcy. Makers of a photovoltaic module, Solyndra received some $535 Million dollars from the Department of Energy as part of Obama′s green jobs policies. Now the Justice Department and the Federal Bureau of Investigations FBI, has raided the firm for documents and is probing the company for possible criminal actions for making misleading claims. This is not the first solar power company supported by the Obama administration with government loans to raise eyebrows. Last year, Evergreen Solar decided to close a plant in Massachusetts and move the jobs to China after getting $58 million from Uncle Sugar. Congress is expected to investigate Solyndra also, as well as another company, 1366 Technologies, for connections between company officials and the White House.

solyndra raided FBI

On Tuesday, Solyndra filed for bankruptcy protection from creditors. Some 1.100 employees were fired. Barack Obama had visited the factory plant in Fremont, California not long ago, touting his green jobs initiative. But even while he was doing that, many were questioning the firm′s viability. Their products cost an average of 2 to 4 times higher than those of similar manufacturers. Solyndra is said to be some $783 Million dollars in debt, much of which from federal loans supplied by taxpayers.

Why would our government give such a shaky company so much money? Billionaire owner, George Kaiser, who holds more than a 35% share in Solyndra, was a major contributor and fundraising ′bundler′ to the Obama election campaign in 2008. Since 2009, he has made some 16 visits to the White House. While the loan process was underway, not only did company officials make misleading claims about Solyndra′s financial soundness, but so too did executive branch officials and even some Democrat members of Congress. Two members of Congress, Henry Waxman (D-CA) and Diana DeGette (D-CO), have said that Solyndra′s CEO, Brian Harrison, assured them within the last 2 months that the company is financially sound.

Shortly after Kaiser′s first visit to the White House, where he met with Obama′s economics adviser Austan Goolsbee on March 12, 2009, Solyndra won their loan from the Department of Energy. Kaiser has met with other top ranking Obama officials, including Valerie Jarrett and Rahm Emanuel at the White House since then. But the bigger picture here is how all three solar power companies, Solyndra, Evergreen and 1366 Technologies, received their loans from the Department of Energy through the Obama administration green jobs initiative. Is there a clear pattern of crony capitalism with firms who supported the Obama election campaign receiving millions in taxpayer dollars? Investigations are now under way by the Justice Department, the Federal Bureau of Investigations and the Congress.