Energy Secretary Chu testified in Congress Thursday for nearly four hours. He took responsibility for extending loan guarantees to the now-bankrupt Solyndra, but said his actions were strictly legal.
Solar energy company, Solyndra, got $528 million federal loan based on rigorous analysis, not politics, Energy Secretary Chu says. House committee to probe loan and loan restructuring for the failed solar energy venture.
Faced with a growing scandal over the bankrupt Solyndra solar power company, the Obama administration has ordered an independent review of government loans to energy companies. Republican lawmakers say they'll subpoena internal White House communications on Solyndra.
Solyndra loan restructuring might violate federal law, Treasury worried, according to released e-mails. House panel aims to determine Energy Department's culpability in aiding Solyndra investors ahead of taxpayers.
With near permanent brinksmanship the new normal, Congress headed into votes Friday to try to avert a government shutdown that is slated to occur on Oct. 1 if a continuing resolution bill is not passed.
Solyndra bankruptcy is causing Congress to look into how the solar manufacturer got federal subsidies. The Energy Department restructured the loan seven months before the Solyndra bankruptcy.