GOP Report Slams White House Over $535M Solyndra Loan

Law360, New York (August 2, 2012, 4:22 PM EDT) -- House Republicans unveiled their final report Thursday on the $535 million loan guarantee the Obama administration issued to now-bankrupt solar manufacturer Solyndra LLC, concluding officials broke the law during the loan’s restructuring and arguing the company never should have received federal assistance.

“Solyndra should stand as a cautionary tale of what happens when an administration ties itself to a project so closely that it becomes the poster child of its signature economic policy,” Republicans said in the report. “When that project fails, interests other than the taxpayers’ come into play.”

The House Energy and Commerce Committee has been investigating the U.S....

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