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| White House 'rushed' loan to solar firm Solyndra | White House 'rushed' loan to solar firm Solyndra |
| (40 minutes later) | |
| The White House could have rushed approval on a major government-backed loan to a failed solar panel firm for political reasons, say US Republicans. | The White House could have rushed approval on a major government-backed loan to a failed solar panel firm for political reasons, say US Republicans. |
| Solyndra declared bankruptcy this month after laying off 1,100 workers and was then raided by the FBI. | Solyndra declared bankruptcy this month after laying off 1,100 workers and was then raided by the FBI. |
| The company came to prominence when President Barack Obama visited it in May 2010 to promote green business. | The company came to prominence when President Barack Obama visited it in May 2010 to promote green business. |
| The White House denied the loan had been rushed so that Vice-President Joe Biden could attend a groundbreak event. | |
| The surge of cheaper technology from Chinese manufacturers, combined with falling demand in Europe for solar panels, have caused a number of US solar firms to close their doors in recent weeks. | The surge of cheaper technology from Chinese manufacturers, combined with falling demand in Europe for solar panels, have caused a number of US solar firms to close their doors in recent weeks. |
| Decison 'urgency' | Decison 'urgency' |
| Internal emails of the White House's Office of Management and Budget (OMB) were subpoenaed by the investigations panel of the House Energy and Commerce Committee several months ago. | Internal emails of the White House's Office of Management and Budget (OMB) were subpoenaed by the investigations panel of the House Energy and Commerce Committee several months ago. |
| The OMB was tasked with the final due-diligence review on the $535m (£340m) loan after it was approved by the Department of Energy. | The OMB was tasked with the final due-diligence review on the $535m (£340m) loan after it was approved by the Department of Energy. |
| House Republicans href="http://republicans.energycommerce.house.gov/Media/file/Hearings/Oversight/091411/SolyndraStoryFinalMemo.pdf" >cited the emails during a subcommittee hearing on Wednesday to question whether the loan programme's selection process was sound. | |
| "Our investigation raises several questions about whether the administration did everything it could to protect taxpayer dollars," said committee chairman Fred Upton. | "Our investigation raises several questions about whether the administration did everything it could to protect taxpayer dollars," said committee chairman Fred Upton. |
| US taxpayers are liable for the loan now that the company has declared bankruptcy. | US taxpayers are liable for the loan now that the company has declared bankruptcy. |
| The Republican lawmakers say the emails suggest that staff members felt pressured to sign-off on the loan. | The Republican lawmakers say the emails suggest that staff members felt pressured to sign-off on the loan. |
| In one email, an unnamed OMB staff member wrote: "We would prefer to have sufficient time to do our due-diligence reviews and have the approval set the date for the announcement rather than the other way around." | In one email, an unnamed OMB staff member wrote: "We would prefer to have sufficient time to do our due-diligence reviews and have the approval set the date for the announcement rather than the other way around." |
| The Republicans said a groundbreak event for the California-based firm, attended by Vice-President Biden via satellite link, was scheduled in September 2009 before the loan was even approved. | |
| White House spokesman Jay Carney said the emails had nothing to do with pressure to approve the loan, but instead with preparing Mr Biden's schedule. | White House spokesman Jay Carney said the emails had nothing to do with pressure to approve the loan, but instead with preparing Mr Biden's schedule. |
| "What the emails make clear is there was urgency to make a decision on a scheduling matter," Mr Carney told reporters. "People were simply looking for answers about whether or not people could move forward." | "What the emails make clear is there was urgency to make a decision on a scheduling matter," Mr Carney told reporters. "People were simply looking for answers about whether or not people could move forward." |
| 'No danger' of failure | 'No danger' of failure |
| The company was the first solar panel company to receive a loan from a federal programme to support innovative green technologies. | The company was the first solar panel company to receive a loan from a federal programme to support innovative green technologies. |
| The government-guarenteed loan scheme was first created by the Bush administration in 2005, but was boosted after President Obama added stimulus money to the programme's funds. | The government-guarenteed loan scheme was first created by the Bush administration in 2005, but was boosted after President Obama added stimulus money to the programme's funds. |
| As recently as two months ago, Solyndra's chief executive Brian Harrison told the committee that the company's finances were sound and there was no danger it would fail. | As recently as two months ago, Solyndra's chief executive Brian Harrison told the committee that the company's finances were sound and there was no danger it would fail. |
| Solyndra cited the falling world price of solar panels as the reason for closing down the firm. | Solyndra cited the falling world price of solar panels as the reason for closing down the firm. |
| The FBI and the energy department's inspector-general office raided the company and the homes of two of its executives on 8 September. | The FBI and the energy department's inspector-general office raided the company and the homes of two of its executives on 8 September. |
| Solyndra said the FBI was seeking records on its loans. | Solyndra said the FBI was seeking records on its loans. |
| The company laid off 1,100 employees at the end of August. | The company laid off 1,100 employees at the end of August. |
| Two of the company's executives were invited to Wednesday's hearing but did not attend, saying they were focusing on the firm's sale. They are expected to appear next week instead. | Two of the company's executives were invited to Wednesday's hearing but did not attend, saying they were focusing on the firm's sale. They are expected to appear next week instead. |
| Energy department loans director Jonathan Silver said Solyndra's failure should not reflect on the loan programme as a whole. | Energy department loans director Jonathan Silver said Solyndra's failure should not reflect on the loan programme as a whole. |
| "I can't imagine a scenario in which we would willingly as a country walk away from what would be undoubtedly one of the largest - if not the largest - industries in the world over the next several decades," Mr Silver said. | "I can't imagine a scenario in which we would willingly as a country walk away from what would be undoubtedly one of the largest - if not the largest - industries in the world over the next several decades," Mr Silver said. |