DOE Loan Program Could Lose $2.7B, Less Than Forecast

Law360, New York (February 10, 2012, 8:55 PM EST) -- Taxpayers could end up losing about $2.7 billion on the U.S. Department of Energy’s loan program, a little more than half of the roughly $5 billion the agency estimated losing when it originated the loans, according to a White House-commissioned independent review released Friday.

The figure also falls some $250 million shy of the DOE’s current loss estimates of $2.94 billion, the report’s author, former assistant U.S. Treasury secretary Herb Allison, said.

The Obama Administration requested the review in October after coming under fire following the...
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