Treasury Department Chief Financial Officer Gary Burner testified today that he believes the Department of Energy should have consulted with the Department of Justice before restructuring Solyndra’s loan to benefit private investors.
“Do you believe today that [the Department of Energy] should have sought [Department of Justice] approval [for the loan restructuring]?” asked Rep. Tim Murphy, R-Pa. Murphy has criticized the “Solyndra swindle,” as he termed it, because the loan program “purposefully did not protect the taxpayer.”
Burner seemed hesitant to denounce the Department of Energy’s processes and gave a qualified and halting response. “Yeah, I’ve said that I believe it would have been wise for them to seek Department of Justice approval.” Burner testified earlier in the hearing that he had never, in his 28 years with the Treasury Department, seen a loan restructured to make sure taxpayers took a back seat to private investors in bankruptcy.
Republicans have expressed doubt about the legality of that loan restructuring.
You can see video of Burner answering Murphy below.
