White House orders loan review after Solyndra fallout

The head of the administration’s bailout programme, Herb Allison, will review the loans and issue a report.

Republicans in the House of Representatives are threatening to subpoena internal White House emails about Solyndra.

Solyndra, a solar panel manufacturer highlighted by the administration, declared bankruptcy in August.

The company is also under investigation by the FBI.

The House Energy and Commerce Committee is considering a subpoena as it questioned whether Obama campaign donors who were also investors in the project played a role in decisions on the loan.

The White House has released thousands of emails about the Solyndra loan, but has withheld thousands more.

Mr Allison, who previously served as assistant treasury secretary for financial stability, managing the Troubled Asset Recovery Program (Tarp), will not review the Solyndra case itself but will evaluate loans in the energy department’s green programmes, worth tens of billions of dollars.

full article here

Uh oh. -Lauren


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