Reporter Grills Obama on Bankrupt Abound Solar


President Obama argued the Department of Energy loan program has largely been successful and decisions within that program had “nothing to do with politics” in an interview with NBC Denver Friday.

Abound Solar filed for bankruptcy earlier this year, and is currently under criminal investigation for securities fraud.

The company — whose principal investor was Pat Stryker, a member of the Democracy Alliance and a major donor to President Obama — received $400 million in federal DOE loan guarantees, as well as a $9.2 million loan from the Export-Import Bank. Taxpayers are expected to lose between 10 and 15 percent of the funding Abound received.