On the recordSeptember 13, 2012
I would like to go to the report. Let's see what the report out of the Energy and Commerce Committee said. I am quoting what would be on page 5: However, the Bush administration did not approve any loan guarantees under the program. This was due partly to the fact that the DOE office implementing the program was slow in being set up, and that program funding only became available in 2007. But even after the Bush DOE had the program up and running, it ran into difficulties finding applicants whose energy projects are meritorious. In other words, they could not find somebody who is asking for the loan who could present a good business plan of not just profit and loss, but where it would fit in the marketplace to even be considered successful. This is the reason why the Bush administration and Republicans did not do that because they could see failure in the marketplace written all over it even as early as 2007. I reserve the balance of my time. Mr. McGOVERN. Mr. Speaker, let me again repeat for my colleagues what Bloomberg Business Week reported, and I quote again: ``There was no evidence of any wrongdoing.'' The Washington Post reported: ``The records do not establish that anyone pressured the Energy Department to approve the Solyndra loan to benefit political contributors. I mean, you know, it's clear what's going on here.…
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govinfo.gov




