September 30, 2011

FROM TIM CAVANAUGH, A SOLYNDRA ROUNDUP: Steven Chu, Oh Where Are You? “As Chu spends time with his family, we may have a clue to why the FBI launched its investigation of Solyndra: an investigation into possible inaccurate financial statements. The DoE’s impeccably timed $737 million loan to the Solar Energy Project is also smelling worse by the day. It can’t be a good sign when one of the most prominent beneficiaries of the loan is former House speaker Nancy Pelosi (D-California)’s brother-in-law, and that isn’t even the scandalous part.” So where’s Chu?

Right here: Chu takes responsibility for a loan deal that put more taxpayer money at risk in Solyndra. “Energy Secretary Steven Chu acknowledged Thursday making the final decision to allow a struggling solar company to continue receiving taxpayer money after it had technically defaulted on a $535 million federal loan guaranteed by his agency.”