Quote:
Originally Posted by scottw
maybe this was the problem 
The Government Accountability Office would later single out the Solyndra deal as an example of the government’s failing to fully vet such arrangements before approving the loan guarantees. With all those stimulus dollars burning a hole in its pocket, the Obama administration was overeager to get them spent. “If you don’t have really strong processes in place, and if you’re under pressure to get a lot of these dollars allocated, you can make unproductive decisions and ones that ultimately put taxpayers’ dollars at risk,” GAO analyst Franklin Rusco said. In fact, the administration announced its commitment to the loan guarantees before the required outside reviews were even in hand. |
That's a different issue.
It's fine to argue due diligence wasn't done, but that's not necessarily why the company folded.
-spence
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