- Aug 19, 2010
- Reaction score
- On a hill
No denying it now...
At a tense hearing on Capitol Hill, two Treasury officials acknowledged that the government's restructuring of the loan earlier this year was unusual, if not unprecedented. Through that process, Solyndra investors, not taxpayers, were put at the front of the line for recovering money in case of bankruptcy.
House Panel Examines Solyndra Loan Restructuring
New documents reveal Treasury Department's concerns with loan
Gary Burner, chief financial officer of the Treasury Federal Financing Bank responsible for the loan and a 28-year veteran of the Treasury Department, said he's never heard of a case where private money was prioritized ahead of taxpayer money in a loan.
Read more: Treasury Officials' Testimony Fuels GOP Concerns Over Solyndra Loan Restructuring | Fox News