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Study Chides U.S. Over Loan Default by Solar Business

2014-04-18 03:06:00| Climate Ark Climate Change & Global Warming Newsfeed

New York Times: Long before the Energy Department lost $68 million on Abound Solar, a manufacturer that went bankrupt two years ago, it should have known that the companys chance of repaying the loan it had guaranteed was deteriorating, according to a report by the departments inspector general. The damning report was issued as the Obama administration prepared to offer as much as $8 billion in additional loan guarantees. The loan guarantee program has been a magnet for criticism since the failure of Solyndra...

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