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House Energy And Commerce Committee
Latest House Energy And Commerce Committee Items
Executives at bankrupt Solyndra, which collapsed last month after receiving more than a half-billion dollars in federal loans, plan to refuse to testify in a congressional hearing Friday now that the FBI is investigating the company.
U.S. taxpayers risk losing more than a half-billion dollars from the collapse of solar-panel maker Solyndra Inc., but former Massachusetts Gov. William F. Weld and his associates stand to earn a windfall in fees representing the bankrupt company in coming months.
The Obama administration's eagerness to deliver economic stimulus may have influenced a federal review of a loan to a now-bankrupt solar panel manufacturer, a move that may have left taxpayers on the hook for a $528 million debt, House Republicans said Wednesday.
Obama administration officials refused to say Wednesday whether anybody would be fired over the decision to award solar-panel manufacturer Solyndra LLC a half-billion dollars in loans before it went bankrupt and saw its headquarters raided by the FBI.
President Obama is selling a repackaged "jobs" spending spree to the nation. Americans need assurance that blowing another half-trillion dollars on stimulus - the American Jobs Act - isn't a recipe for more crony capitalism.
FBI agents on Thursday executed search warrants at the California headquarters of Solyndra LLC, which was awarded more than $500 million in federal stimulus loans in 2009 to make solar panels in what the Obama administration called part of an aggressive effort to put more Americans to work and end U.S. dependence on foreign oil.
When congressional leaders earlier this month named six lawmakers from each party to a debt reduction "supercommittee," investing unprecedented power in a tiny cadre to slash funding, they set off a wild scramble among special interest groups to gain access and protect their interests.
President Obama now claims there's only $2 billion he can cut out of this year's $3.6 trillion in federal outlays. He's not looking very hard. The administration's trillion-dollar "stimulus" spending spree spread millions in U.S. taxpayer dollars around places like the president's boyhood home, Indonesia. Money that stayed within the country often wound up in the hands of debt-riddled, fly-by-night firms. This week, the White House continued to stonewall attempts to get to the bottom of where our money has been going.
It's always dangerous to forecast the future, and projecting the outlook for American public policy is particularly challenging. Political crystal balls are notoriously cloudy.