DOE Hasn't Learned Its Lesson
Diana Furchtgott-Roth, RealClearMarkets
Some might think the Energy Department learned from the September Solyndra bankruptcy, in which taxpayers have a $528 million exposure. Surely September would have been a good time to halt the Energy Department's loan guarantee program and understand why this program has become the poster child for crony capitalism. But instead of pausing, the Energy Department recklessly issued another $8 billion of loan guarantees in September under the Energy Policy Act of 2005. Why last month's haste to put taxpayers at even more risk? No doubt, the administration was aware that the legal...
Some might think the Energy Department learned from the September Solyndra bankruptcy, in which taxpayers have a $528 million exposure. Surely September would have been a good time to halt the Energy Department's loan guarantee program and understand why this program has become the poster child for crony capitalism. But instead of pausing, the Energy Department recklessly issued another $8 billion of loan guarantees in September under the Energy Policy Act of 2005. Why last month's haste to put taxpayers at even more risk? No doubt, the administration was aware that the legal...