Why the Rush? Re: Solyndra Loan

Why the Rush? Re: Solyndra Loan

April 12, 2012
Originally published in One News Now

From Chris Woodward's article in OneNewsNow:

Marlo Lewis, senior fellow for the Competitive Enterprise Institute's (CEI) Center for Energy and Environment, says the Treasury's inspector general seems to want to bend over backward to avoid imputing any kind of blame for the loan to Solyndra, going so far as use legalisms to claim various terminology was vague.

"The inspector general acknowledges that the Department of Treasury did not keep any records of its consultation" with the Department of Energy on the Solyndra loan. "Those records are required by law," Lewis notes. Also, "only five people at Treasury reviewed it, although 11 were tasked to do so, and at least one, when interviewed by the inspector general, [wasn't] even aware that they were part of the review team, and the review itself was only one day long."

So the OIG concludes in the audit report that the consultation on the Solyndra loan guarantee was "rushed." And Lewis has a suggestion for why.

"It was exceedingly rushed. Why? So that the Department of Energy can get out a press release saying look at this wonderful thing we're doing to promote green energy in the United States," he offers.