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THE HILL: GOP probe: Solyndra a ‘cautionary tale’
Washington, DC,
Aug 2 -
By Ben Geman
A House GOP report capping a probe of the Obama administration's backing for Solyndra calls the solar firm's collapse a “cautionary tale” of political pressures and misguided policy leading to the loss of about a half-billion taxpayer dollars.
House Energy and Commerce Committee Republicans on Thursday released a report on their investigation of Solyndra, the solar panel-maker that struggled after receiving a $535 million Energy Department loan guarantee in 2009 and went belly-up last year.
“Solyndra is a prime example of the perils that come when the Federal government plays investor, tries to keep a company and industry afloat with subsidies and attempts to pick the winners and losers in a particular marketplace. Policy and political pressures inevitably come into play to the detriment of taxpayers, as it did with Solyndra,” states the 154-page report available here.
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