Congress Told Where DOE Went Wrong With Stimulus Funds

Law360, New York (November 30, 2011, 3:29 PM EST) -- Following public fury over the U.S. Department of Energy's award of a loan guarantee to now-bankrupt Solyndra Inc., the department's watchdog told lawmakers Wednesday the DOE was ill-equipped to distribute a massive infusion of stimulus money under tight deadlines.

The DOE has faced strong criticism for awarding $535 million to solar panel maker Solyndra under a stimulus program devoted to renewable energy projects. The controversy only escalated following the recent bankruptcy of Beacon Power Corp., which received a $43 million DOE guarantee under the same program....
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