Reply #67: GOP to Subpoena White House over Solyndra By Corbin Hiar [View All]

[Demeter]

http://www.nationofchange.org/gop-subpoena-white-house-over-solyndra-1319897518

IT'S STILL THE SAME OLD STORY, PLAY IT AGAIN, SAM!

The fallout from the government’s failed $535 million bet in solar panel maker Solyndra expanded on Friday, with the Obama administration seeking an independent audit of Energy Department loans even as the Republican-led House Energy committee threatened a subpoena of the president. White House officials said the audit would focus on the health of existing loans in the Energy Department’s multi-billion dollar portfolio of investments in clean tech firms.

Solyndra, the first recipient of Energy Department backing, collapsed in bankruptcy and is now the subject of multiple investigations. The Energy Department and White House backed the half billion dollar investment in Solyndra, government emails show, even as budget and Treasury officials were raising red flags.

“Today we are directing that an independent analysis be conducted of the current state of the Department of Energy loan portfolio, focusing on future loan monitoring and management,” White House chief of staff Bill Daley told the Associated Press. “While we continue to take steps to make sure the United States remains competitive in the 21 st century energy economy, we must also ensure that we are strong stewards of taxpayer dollars.”

The audit will be conducted by former Treasury official Herb Allison, who stepped down in September 2010 after overseeing the Troubled Asset Relief Program. A former investment banker, Allison has served on the boards of financial and educational institutions and contributed to both Republicans and Democrats over the years, according to federal contribution records in the CQ MoneyLine database. He was national finance chairman for John McCain’s 2000 campaign. Previous General Accountability Office reports have questioned the Energy Department’s handling of its loans and loan guarantees, saying the agency sometimes showed favoritism in making awards and didn’t always follow up to ensure projects were on track. “DOE has treated applicants inconsistently,”said one report . “Although our past work has shown that agencies should process applications with the goals of treating applicants fairly and minimizing applicant confusion, DOE’s implementation of the program has favored some applicants and disadvantaged others in a number of ways.”

IN NO WAY ARE THE WHITE HOUSE'S HANDS CLEAN HERE, BUT I HARDLY THINK THE GOP NEEDS ANY MORE FUEL FOR THAT BONFIRE. IF THE IDEA IS STILL TO SINK SOLAR ENERGY, I THINK IT'S TOO LATE FOR THAT, TOO. IT'S JUST GOP BEING GOP.