Oversight Committee Chairman Issa Statement on Release of Energy Department Loan Review Report

Statement

Oversight and Government Reform Committee Chairman Darrell Issa (R-CA) today released the following statement regarding the publication of a report critical of the Department of Energy's handling of green energy loans:

"The findings of today's report are startling. The Obama Administration has acted as if Solyndra was a fluke, but the reality is--as this report concludes--the entire process was flawed. Most concerning is the revelation that the Secretary of Energy was not adequately informed about loan performance and risk while his department was ill-equipped to assess that risk. The report also noted that the Department did not have clear guidelines for granting loans and relied on an ad-hoc decision-making process.

"Billions of taxpayer dollars were--and remain--in jeopardy because of President Obama's green energy gamble, while private capital has been pushed aside by government money and markets disrupted by government intervention.

"This report underscores the importance of our Committee's and Congressional investigations into Department of Energy and Obama Administration agencies to shed light on a process that has been shielded from the scrutiny of the very public who are underwriting the risk."

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