Political Connections Behind Solyndra Loans?

Duh:

The Obama administration engaged in a pattern of approving loans that were not qualified to receive taxpayer money, according to one Republican House chairman who says the development is as disturbing as the potential loss of billions of dollars in investments.

Rep. Darrell Issa, R-Calif., chairman of the House Oversight and Government Relations Committee, said Sunday that the administration's approval of a loan guarantee for solar power company Solyndra -- which went belly up shortly after a half-billion dollar investment by the federal government -- is just one example of a "breach of protocol" in approving loans.

Issa said the Energy Department actually approved $4.75 billion worth of loans on the last day that the law allowed for financial backing of alternative energy firms.

"We're finding it's not just Solyndra. It's a pattern of these sorts of investments," Issa told "Fox News Sunday." "One of the questions we have for (Energy) Secretary (Steven) Chu is, tell us why that last day, somehow, you had everything you needed and you didn't have it over a period of time before?"

Please bookmark!