Chu: Solyndra Loan "Was Made Only on the Merits"

If by "merits" he means "political favors," then yes:

Energy Secretary Steven Chu said Thursday he doesn't think taxpayers will recover much of their $528 million loan to bankrupt solar firm Solyndra, calling the situation "extremely unfortunate" while continuing to defend his actions to prop up the company before its failure.

Chu testified Thursday for the first time before the House committee investigating the Solyndra loan. He insisted that the decision in late 2009 to approve the loan guarantee was his own and "absolutely was made only on the merits." He said it was not influenced by political considerations.

But he acknowledged that chances are dim for taxpayers to see their money returned as Solyndra goes through bankruptcy proceedings.

Asked how much money taxpayers might get back, Chu said: "Well, that remains to be seen. I'm anticipating that not very much."

While declining to offer a personal apology over the situation, Chu expressed disappointment in the fate of Solyndra and said the buck stopped with him when it came to decisions made by the Energy Department about the company.

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