Yesterday, a report released by the House Committee on Oversight and Government Reform [Committee] detailed the continuing, and shocking, fiscal mismanagement by the Department of Energy [DOE] with regard to its loan guarantee program.
Specifically, the report demonstrates that, in connection with the extensive Congressional investigation into the program, the Committee “has uncovered numerous examples of dysfunction, negligence and mismanagement by DOE officials, raising troubling questions about the leadership at DOE and how it has administered its loan guarantee programs.”
According to the report, because “[i]nexplicably, DOE management has turned a blind eye to the risks that have been glaringly apparent since the inception of the program[,]” DOE has “amassed an excessively risky loan portfolio” of $14.5 billion. …
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