Cliff Stearns: “As pointed out by Chairman Upton, the investigation was methodical; it was systematic; it was thorough; and it was over…”

“As pointed out by Chairman Upton, the investigation was methodical; it was systematic; it was thorough; and it was over an 18- month period. It took us almost 8 months after we issued a subpoena in November to try to even get the administration to respond. The Energy and Commerce Committee requested, received and reviewed documents from every executive branch agency that was connected to Solyndra, and it interviewed more than a dozen administration officials who played key roles in the loan guarantee. The committee has also reviewed documents produced by Solyndra's investors, as well as by DOE's independent consultant and legal adviser. As the committee's investigation revealed, the Obama administration put Solyndra's loan on a fast track for political reasons despite repeated red flags and warnings in 2009 from the Office of Management and Budget and DOE officials about the company's financial condition and, actually, about the market for the product they were trying to sell, which was that they couldn't do it. It's clear that DOE failed to adequately monitor the loan guarantee, blindly writing check after check to Solyndra as the company hemorrhaged cash throughout 2010.…”