‘Independent’ Energy Loan Reviewer Gives Big to Obama

Herbert M. Allison

Herbert M. Allison


The Wall Street millionaire who cleared the White House of any wrongdoing in the multi-billion dollar bailouts of bankrupt solar companies owned by Obama’s top donors is a mega-contributor to the president’s reelection campaign, according to the Associated Press.

The campaign contributions to Obama started just weeks after Herbert M. Allison Jr., in congressional testimony in March, minimized concerns that the Energy Department was at high risk in more than $23 billion in federal loans awarded to green energy firms. Two weeks later, Allison began giving to the Obama campaign. His contributions to Obama and the Democratic National Committee totaled $52,500 by last month. Allison previously was the former head of the government’s mass purchase of toxic Wall Street assets. …

Allison’s report, completed in February and touted by the White House, acknowledged that the Energy Department could lose as much as $3 billion in loans, but it concluded that was far less than the $10 billion set aside by Congress for high-risk companies. The review did not assess the two bankrupt firms because those loans were no longer current.

Republicans investigating the Solyndra scandal, among other bankrupt solar companies with ties to the administration, said the Associated Press report casts suspicion over Allison’s conclusions.