◼ Mitt Romney Visits Solyndra Amid Attack on Obama Jobs Record - ABC News
Solyndra went bankrupt in 2011, laying off more than 1,000 employees, after receiving $535 million in federal loan guarantees through a ‘s Act program. The investment has been slammed by Republicans who believe the Obama administration chose the plant because of its ties to major donors. It has been the subject of an ongoing congressional investigation.
When the company went bankrupt, taxpayers were left to pay off the loans associated with the grant and Republicans seized on the investment as an example of the administration’s, as Romney says, trying to pick “winners and losers” in the free market that would benefit high dollar donors.
At a private fundraiser in Hillsborough, Calif., Wednesday night, Romney previewed his attacks on the administration’s involvement in Solyndra.
“Have you seen Solyndra’s corporate headquarters?” Romney asked. “You probably have.”
“Who wants to put money in a solar company when a government puts a half a billion into one of its choice?” Romney asked, suggesting that investors and entrepreneurs would be less likely to found their own companies if they believe the government would help a competitor. “They don’t understand how the free economy works.”
During a February campaign speech in Nevada, Romney made similar claims, comparing his own experience starting office supply giant Staples during his time at Bain to the facilities at Solyndra, which he often compares to the Taj Mahal.
