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Title : Flashback: Solyndra -- March 21, 2019
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Flashback: Solyndra -- March 21, 2019

Solyndra.

Ten years ago today, President Barack Obama gave the Solyndra solar panel company $535 million of Energy Department loan guarantees as part of his economic stimulus program, Sandra Smith reported on "America's Newsroom."

"The true engines of economic growth will always be companies like Solyndra," Obama said of the California company at the time.

Then-Energy Secretary Steven Chu also heralded the taxpayer funding for easy-to-install solar panels.

Looking back on the failed investment, Smith played video clips of Solyndra's early days, with Gov. Arnold Schwarzenegger (R-Calif.) breaking ground on part of the company's property.

Smith said that just days after the ensuing 2010 midterms, Solyndra filed for bankruptcy and finally went under in 2011, taking with it the half-billion taxpayer dollars and hundreds of jobs.

Two words: money laundering.

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