In the Know: Solyndra bankruptcy

The CEO of the solar company Solyndra has resigned. Brian Harrison left the company amid the bankruptcy filings and probing congressional investigations that will soon take place.

Solyndra was one of the companies fortunate enough to be bailed out by our self-proclaimed capitalist government. The company received funds totaling $527 million ““ money that has now disappeared forever.

Last month the Justice Department requested to see a record of the company’s finances ““ a request that was denied. But in the wake of Solyndra’s bankruptcy, the company’s remaining leaders may change their tune.

Congress has already begun an intense investigation into the company and how exactly it conducted itself after it received the $527 million loan. Yet, the federal government admitting it made a mistake in hindsight does no good. In the chaos of the Great Recession, the federal government gave away money like a bad cold, foregoing extensive background checks on company’s finances in hopes that these loans would kick-start the economy again.

Their hasty actions have only caused more damage, as companies like Solyndra took and abused these loans, ultimately having nothing to show for it.

Harrison can walk away from the mess he has created, taking his lofty CEO compensation, but it will be the rest of America that pays for that $527 million loan. So let capitalism ring, from every mountaintop, let capitalism ring.