Solyndra Scandal Widening

by Andrew C. McCarthy

My column this weekend is about the Solyndra scandal, and why I think it should be investigated as a criminal fraud. That would include a significant securities fraud angle: President Obama’s speech at Solyndra on May 26, 2010, was grossly misleading at a time when it was known that independent auditors had issued dire warnings about the failing solar-panel business’s chances of survival and when Solyndra’s Obama-connected backers were trying to sell the company’s stock on market.

Now there’s more: The Daily Caller reports that Solyndra actually sought a second federal loan in the astronomical sum of $469 million (which would have aggregated to well over $1 billion in taxpayer financing, for a company that was gushing red ink and was careening toward inevitable bankruptcy). The Daily Caller got the info from Solyndra’s SEC filing — and the site reports that the filing does not make clear whether the company got the second loan . . . and that Solyndra did not return the Daily Caller’s call to inquire.

One other thing: I did a ton of research for my column, and Andrew Stiles has done the best reporting you’ll find anywhere. There are links to it on the home-page (start here) and I highly recommend it to anyone who wants to understand what the controversy is all about.