White House Orders Independent Review of Energy-loan Program
October 28, 2011
White House Chief of Staff Bill Daley said on Friday that the administration is ordering an independent analysis of the Energy Department program that gave a $535 million loan guarantee to Solyndra, the bankrupt solar-energy company that is already facing an FBI probe.
The move is one of the most explicit acknowledgements from the White House to date that the Energy Department's loan-guarantee program deserves scrutiny. At a press conference earlier this month, President Obama defended the program despite Solyndra's downfall.
"The president is committed to investing in clean energy because he understands that the jobs developing and manufacturing these technologies will either be created here or in other countries," Daley said in a statement. "And 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."