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Diane Publishing Books
Solyndra Failure: Congressional Failure
Fred Upton (ed)
In Feb. 2011, the U.S. House of Rep. opened an investigation into the DoEńˇ╗s management of the Loan Guarantee Program. The investigation has focused on DoEńˇ╗s $535 million loan guarantee issued to Solyndra, Inc. in Sept. 2009 and the restructuring of that guarantee in Feb. 2011. It determined whether DoE conducted proper and adequate analyses prior to its approval and subsequent restructuring and took all steps necessary to protect the taxpayersńˇ╗ investment in this co. This report concludes that DoE should never have issued the loan guarantee to Solyndra and that DoE violated the law when it restructured the terms of the loan guarantee and subordinated the taxpayersńˇ╗ interest to the interests of 2 private investors. A print on demand report.
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