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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.