DOE's Deal With Solyndra Investors Broke Law, GOP Says

Law360, New York (July 25, 2012, 10:24 PM EDT) -- The U.S. Department of Energy knowingly broke a federal law when it asked Solyndra LLC's backers to invest more in the faltering solar panel manufacturer in exchange for the government's taking a backseat to private equity investors in the ensuing loan restructuring, lawmakers said Wednesday.

The DOE offered in December 2010 to subordinate its own interests to those of Argonaut Private Equity and Madrone Capital Partners when it came to payback on approximately $480 million worth of loans and loan guarantees it made to Solyndra, according...
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