On the recordSeptember 14, 2012
I thank the distinguished chairman. And let me say that we are here this morning because the Oversight Committee, under the leadership of Mr. Upton, and myself as chair were able to define the problems. Now, on that side of the aisle, they obviously are going to defend the administration. But you can't defend an administration that lost $535 million, and they did so in a way that violated the Energy Policy Act of 2005. Now, the ranking member, Ms. DeGette, indicated that nothing was done wrong. I think if she looks carefully at the evidence, obviously, a lot was done wrong because the Energy Policy Act said you cannot subordinate taxpayers' money to the two hedge funds which they did in the case of the Solyndra loan. And also, I think when you look at the evidence, you'll see that there's wholly mismanagement by the administration and the Department of Energy. And actually, there were so many warning signs that, in the end, this loan should have never gone forward. And these warnings came from the administration. So, my colleagues, I rise in strong support of H.R. 6213, the No More Solyndras Act, which I am proud to join with Chairman Upton in sponsoring. And as mentioned, this is a culmination of 18 months of thorough investigation by our Subcommittee on Oversight and on Investigations.…
