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Energy chief defends failed $528m solar loan

Energy Secretary Steven Chu insisted politics played no role in the decision to loan now-bankrupt Solyndra Inc. $528 million. Energy Secretary Steven Chu insisted politics played no role in the decision to loan now-bankrupt Solyndra Inc. $528 million. (Kevin Lamarque/Reuters)
By Matthew Daly
Associated Press / November 18, 2011

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An unapologetic Energy Secretary Steven Chu defended a half-billion-dollar federal loan to a solar-panel manufacturer that went belly up, even as he told a House committee yesterday he was unaware of dozens of key details that led to the debacle over Solyndra Inc. Under hours of hostile questioning from Republicans on the House Energy and Commerce Committee, Chu declined several opportunities to say he was sorry, but acknowledged that in hindsight the deal was “extremely unfortunate’’ and “regrettable.’’

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