Anyway, I took a look at Solyndra's web-page, which hasn't shut down yet (the miracle of the Internet). They have a timeline for the company that reads as follows:
Now, it seems weird to me that a company that was only founded in 2005, that only established offices in 2006, that only started production in 2007, and that only began shipping product in 2008, should suddenly get a $500 million + federal loan guarantee in 2009.
But here's what really made me crazy: apparently they received a $535 million DOE loan guarantee either the same year (2009) or maybe even before they reached $100 million in annual revenues. Imagine this is a 30 year loan. Even at a ridiculously low rate of interest (read: fraudulently low), Solyndra would still have something like $10 million just in interest payments per year. On $100 million in revenue? Really?
So, like everything else the federal government touches, this is a situation where (wink, wink) no one really ever expected that the money would be paid back.
An alternative theory is even more cynical: this was never a real "business" to begin with. It was just, on one side of the transaction, a front for fraud; on the other side of the transaction, a Potemkin village/Hollywood sound stage for the permanent campaign of Barack Hussein Obama.
Speaking of which, here is Obama, just over a year ago, at the Solyndra plant:
Does this stuttering clusterf*** of a miserable failure ever go anywhere without his f***ing teleprompter?