If there is no subordination and a company goes bankrupt, which Solyndra did, then the taxpayers get repaid first.
Joe Barton: “If there is no subordination and a company goes bankrupt, which Solyndra did, then the taxpayers get repaid first.”
Editor's note · Context
Barton emphasizes the risks of loan subordination in the context of Solyndra's bankruptcy.
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Thank you, Mr. Chairman, and I want to thank you, sir, for appearing voluntarily without subpoena and standing or sitting there all by yourself.
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