PREVIOUS HEARINGS HIGHLIGHTED SOLYNDRA LOAN GUARANTEE PUT TAXPAYERS AT RISK

Washington, Sept 8 - “In light of deception by Solyndra executives and the lack of cooperation from the Administration in our investigation, this joint raid by the FBI and the Office of Inspector General at the U.S. Department of Energy (DOE) is not surprising,” said Rep. Cliff Stearns (R-FL), Chairman of the House Energy and Commerce Committee’s Subcommittee on Oversight and Investigations.  “Although we know that the taxpayers were put at risk through this ill-advised loan guarantee, we are trying to determine who pushed for this funding and why.  Perhaps the FBI investigation will help answer these questions.”   

Stearns has scheduled a hearing on Solyndra for Wednesday, September 14^th with these witnesses invited:  OMB Deputy Director, Jeffrey Zients; Executive Director of DOE’s Loan Programs Office, Jonathan Silver; Solyndra President and CEO, Brian Harrison; and Solyndra CFO, W.G. Bill Stover.

Even though numerous red flags highlighted that Solyndra was financially troubled, Solyndra was awarded a loan guarantee by the DOE in 2009.  The Obama Administration highlighted the company as the flagship for its effort to create jobs.  Stearns has held a series of hearings on Solyndra during the committee’s investigation of the loan guarantee program.