THE PRESIDENT & SOLYNDRA.
Don't let that happen.
Many people are thinking that a Congressional committee probing the sudden declaration of bankruptcy by Solyndra, a small solar energy producing company located in California, has political connotations.
Why? Because it has allegedly enjoyed what seemed to be a special kind of relationship with the White House in the past.
President Barack Obama has touted the company and called it a progressive enterprise; one that stood out as a practical example for other small companies to emulate.
The company has taken a government assisted loan, of $535 million dollars in 2009, only to default in 2011.
It will therefore be rather nonsensical to say that members of the United States Congress are being inquisitive to go after the company for losing taxpayers' money so quickly. After all, it is their responsibility to watch over the country's money and how it is appropriated.
It would therefore be irresponsible, if not cynical, on their part not to follow through to find out how the company has spent such a huge sum of money in so short a time.
The Obama administration has been keen on helping "green" companies to obtain financing; and to encourage them in their effort to assist the government to make America to be energy independent.
So, such companies have been allowed to assume certain special privileges in gaining access to government sources that would be more sympathetic in responding to their needs and concerns; and Solyndra has been one of them.
For it (Solyndra) to go under so fast will cast a long shadow over the White House, because of the close connection it (WH) is said to share with that company.
The investigation has also occurred at a time, when there have been so many disagreements on Capitol Hill on several issues.
Presently, Congress is grinding to a halt on one such issue, and the outlook of it is not too pleasant. The possibility of the government shutting down tends to be imminent.
Almost at the same time, the executives of Solyndra have decided to stonewall its investigation by invoking their Fifth Amendment rights; but Congressional members have set out to get to the bottom of the matter.
The Solyndra lawyers must stop that nonsense, as the country is badly in need to know the truth about the $535 million dollar loan, and whatever has become of it.
It will also be a good idea for the president to come out and clear the air, as his administration is closely involved with the case. Or a very bad impression will be created for the public to deduce that the administration is hiding something.
That will adversely affect the promotion of his job creation plan, which includes more spending of government money for energy producing businesses. It will be like throwing good money after bad.
It will be a case of making a double mistake and putting money into supporting untried companies that can be lost; one which will permit people to say that the government is pursuing a policy of making bad investments after bad investments.
That will only give credence to those who are determined to to stop President Obama's reelection bid in 2012. That must not happen.
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