DOE Rushed Treasury Review Of $535M Solyndra Loan: Report

Law360, New York (April 4, 2012, 7:51 PM EDT) -- The Obama administration rushed the U.S. Treasury Department’s review of a $535 million loan guarantee issued to bankrupt solar panel maker Solyndra LLC, and may have ignored some of the department’s concerns, according to a federal audit released Wednesday.

The U.S. Department of Energy and the White House pressured Treasury officials to finish the review quickly so the DOE could send out a press release announcing the loan to Solyndra, the Treasury’s inspector general said.

Solyndra was one of 28 clean energy projects to receive a...
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