"Study Chides U.S. Over Loan Default by Solar Business"

"WASHINGTON — Long before the Energy Department lost $68 million on Abound Solar, a manufacturer that went bankrupt two years ago, it should have known that the company’s chance of repaying the loan it had guaranteed was deteriorating, according to a report by the department’s inspector general.

The damning report was issued as the Obama administration prepared to offer as much as $8 billion in additional loan guarantees.

The loan guarantee program has been a magnet for criticism since the failure of Solyndra in 2011; that company took $528 million in loans guaranteed by the Energy Department."

Matthew L. Wald reports for the New York Times April 17, 2014.

Source: NY Times, 04/18/2014