White House Investigates Loans to Energy Department

Two dozen loans worth $36 billion will be reviewed after Solyndra mess
By Mark Russell,  Newser Staff
Posted Oct 29, 2011 5:34 AM CDT
White House Investigates Loans to Energy Department
An unidentified man walks in front of bankrupt Solyndra in Fremont, Calif., in this file photo.   (AP Photo/Paul Sakuma)

(Newser) – In the ugly aftermath of Solyndra, the White House yesterday ordered a 60-day independent review of the Energy Department's entire loan guarantee program, reports the LA Times. The review will encompass three loan programs and about two dozen loans worth about $36 billion. "While we continue to take steps to make sure the United States remains competitive in the 21st century energy economy, we must also ensure that we are strong stewards of taxpayer dollars," wrote White House chief of staff Bill Daley.

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While the Obama administration has continued to defend the overall success of its energy loan program, House Republicans are ramping up their investigation of Solyndra. So far the White House has turned over 70,000 pages of documents, but Republicans are threatening subpoenas for additional information that was not turned over. The GOP investigation is also growing beyond Solyndra, now encompassing Fisker Automotive, Tesla Motors, and the American subsidiary of a Russian-owned steel company. (Daley had lots of other things to say about Obama's first term in a separate interview.)

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