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House GOP: White House rushed $535M SOLYNDRA loan guarantee – The Hill

September 14, 2011

Republicans on the panel unveiled portions of emails Wednesday that appear to show that the White House tried to rush a final decision on Solyndra’s financing so that Vice President Joe Biden could announce approval at the September 2009 groundbreaking for the company’s new factory.

House GOP: White House rushed $535M Solyndra loan guarantee

By Andrew Restuccia – 09/14/11 11:55 AM ET

Republicans blasted top Obama administration officials Wednesday for greenlighting a $535 million loan guarantee to a now-bankrupt California solar company, alleging that the White House rushed approval of the taxpayer-backed loan without adequate oversight.

The GOP has sought to pummel the White House on the issue in recent weeks, seeing an opening to bash the Obama administration’s push to invest billions in clean energy.

“In this time of record debt, I question whether the government is qualified to act as a venture capitalist, picking winners and losers in speculative ventures and shelling out billions of taxpayer dollars to keep them afloat,” House Energy and Commerce Committee Chairman Fred Upton (R-Mich.) said Wednesday during a subcommittee hearing on the Solyndra loan guarantee.

Republicans on the panel unveiled portions of emails Wednesday that appear to show that the White House tried to rush a final decision on Solyndra’s financing so that Vice President Joe Biden could announce approval at the September 2009 groundbreaking for the company’s new factory.

via House GOP: White House rushed $535M Solyndra loan guarantee – The Hill’s E2-Wire.

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