Energy Department Loan Chief Resigns in Wake of Risky Loan to Solyndra

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The Solyndra flap appears to have claimed its first Obama administration official.
President Obama visits Solyndra in May 2010.

Jonathan Silver, who headed the Department of Energy’s loans office, is leaving for a Washington think tank amid criticism of the $535 million federal loan that went to now-bankrupt Solyndra solar energy company.
Energy Department officials noted that the DOE approved the loan before Silver took over the office — a point he made in recent congressional testimony — and that there are other reasons for his departure.
“In early July, shortly after the fiscal year 2011 budget was completed by Congress and it became clear that no significant new funds were included for the loan program, Jonathan Silver informed me that he intended to return to the private sector shortly after September 30, the statutory end-date of the 1705 loan guarantee program,” said a statement from Energy Secretary Steven Chu.
Solyndra has been an embarrassment for President Obama, who visited the company in 2010 and touted it as an example of his green energy program.
E-mails disclosed during a congressional investigation indicate that some administration officials worried about the solar energy company’s financial problems even before Obama’s visit.
Source: USA Today | David Jackson

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