"WASHINGTON — 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 company’s chance of repaying the loan it had guaranteed was deteriorating, according to a report by the department’s 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 in 2011; that company took $528 million in loans guaranteed by the Energy Department."
Matthew L. Wald reports for the New York Times April 17, 2014.
Source: NY Times, 04/18/2014
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