Wednesday, September 14, 2011

Griffith Questions Officials About Solyndra and the DOE Loan Guarantee Program

Griffith, a member of the Energy and Commerce Committee’s subcommittee on oversight and investigations, grills the Department of Energy’s Jonathan Silver about the decision to subordinate taxpayer investment in Solyndra to a new investor, Argonaut, as the green-tech firm was failing. - HotAir

Griffith points out that Congress made clear that taxpayer funds for green-energy loans were not to be subordinated to other investors in case of bankruptcy and demands to know why Silver and the Obama administration disregarded it. Silver responds that the DoE needed to use all tools it could to attempt to salvage the company to protect taxpayer funds