Energy Department Chief Hails Solyndra Loan Program as ‘Terrific Success’
From Fox News
By Joel Gehrke
Energy Secretary Ernest Moniz dismissed the “controversy” surrounding the loan program that gave taxpayer funding to a now-bankrupt solar energy company, calling the program “a terrific success” despite the high-profile bankruptcies.
“The loan guarantee program has had some controversy. Let me say flatly: It’s been a terrific success, and a $35 billion loan portfolio has had two percent of defaults, 10 percent of the reserve fund that the Congress itself put aside for what is advancement of risky technologies,” Moniz told reporters on C-SPAN’s “Newsmakers.”
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