Energy Dept Should Have Sought Legal Opinion on Solyndra Loan, Treasury Official Tells Congress

Fred Lucas

Treasury Department officials said they could not recall another time the government put the interest of private investors in front of those of taxpayers before the loan restructuring for the bankrupt but politically connected solar panel firm Solyndra.

Further, one department official told a House panel that the restructuring of the $535 million loan should have been reviewed by the Justice Department.

Rep. Cliff Stearns (R-Fla.), chairman of House Energy and Commerce Subcommittee on Oversight and Investigations, questioned Gary Burner, chief financial officer of the Treasury Department’s Federal Financing Bank.

“So in your experience of 28 years, plus being the chief financial officer, have you ever heard of taxpayer money be subordinate to outside commercial firms?” Stearns asked.

Burner responded, “No, sir. I have not.”…

The article continues, with video, at

Related: “Green” Pork Not Limited to One Political Party The Wall Street Journal’s Kimberly Strassel discusses the bipartisan clean-energy funding that has gone awry.

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