The Treasury Department was forced to rush an ill-fated loan to the now-defunct solar company Solyndra due to pressure from the Energy Department, an internal audit has revealed.
Bloomberg reports on an audit released by Treasury’s Inspector General’s Office:
While Treasury staff say they had enough time to review the loan, internal e-mails cast doubt on whether staff suggestions to provide a partial instead of a full guarantee were addressed by the Energy Department, the Treasury’s Inspector General’s Office said today in the report.
"Treasury’s consultative role was not sufficiently defined, the consultation that did occur was rushed and no documentation was retained as to how Treasury’s serious concerns with the loan were addressed," the audit said.