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-- another big story -- the news today the executives from that failed solar firm.
That basically burned through half a billion dollars in US tax money.
Called on the carpet today in the nation's capital it has been quite as CNN has unfolded down there as we speak this morning to executives.
From the company's disk questioned about what happened to the 535.
Million dollars in federal loans at this company got.
The problem is that both of those executives as we anticipated.
-- that the -- Democrats and they are not talking.
Lawmakers are asking their questions anyway right now here's a piece of it.
chairman I have tremendous respect for the subcommittee.
And the important oversight role that it place.
IA as much as I wish to be able to answer the members' questions.
I've been advised -- my counsel that is the better course for me to assert my.
Constitutional right to decline to answer questions under the Fifth Amendment.
On the advice of my counsel I must invoke the privilege afforded by the Fifth Amendment to the US constitution.
And I respectfully decline to answer any questions put to me by this committee and subcommittee it.
It's been through this company over the past couple months just a short while the employees there everything was going just fine -- that -- -- executives sitting before this committee this morning.
And they have just adjourn.
And that is why we have congressman -- being great with us.
Georgia Republican who sits on the energy and commerce committee congressman good morning GAO.
Stating it did didn't get too much information -- -- these -- this morning.
Martha good morning no we did you know what they didn't -- and and there are opening remarks was that on the grounds that -- -- statements might self incriminate me in indeed I think they would.
It's it's a shame that they would not answer all the questions of our ongoing right now I'll go back to the committee.
And hopefully get a chance to -- of question but I know what the response will be there stonewalling of course and not they know that they indeed would self incriminate.
Themselves yet -- you know there's so much that we need to know in this story.
And obviously you can't in many ways energize a -- not a talking about this this morning.
Most attorneys would advise them that they should not speak at this time because the FBI raided their offices took all their documents the hard drives everything they need.
So there's a lot of information is gonna come out about this so in essence is not that surprising that they're not talking at this point.
You're absolutely right off of that they're following attorney's advice and and we -- we all understand that we know the drill.
But we get an opportunity as I did a few moments ago when opening statement.
To propose today I'm in the two minutes allotted to -- the questions that we would like to have answered if they would answer like.
Black hole was this loan.
Of the taxpayer money the 500.
Million dollars -- half billion dollars subordinated.
To put a second loan from the private sector.
When that energy pot of the energy committee loan program strictly prohibits that.
How -- they able to do that.
And as we know there are emails that exists that indicate that there were people in the administration who -- concerned about this DL.
And whether or not it should go -- said that clearly it they're gonna wanna find out I imagine you wanna find out.
What the company knew and what they claim they already conveyed to the administration when all this was going down.
What it's absolutely and -- that is a reason is two months ago they said everything is hunky dory everything's fine and then all of a sudden.
At the end of all all -- say declare bankruptcy and you know edit that the Democrats on the committee are trying to say well both the bush administration and the Obama administration.
Miss some important details -- made a mistake here.
-- the book Bush Administration officials and the loan oversight golf committee of department energy.
A recommended that.
-- week in negotiation was a lender in about three weeks later after Obama was inaugurated.
That all the sudden the program gets back on fast track you know the same information just a different administration.
And what are the big questions here in my mind that is why it went a prior administration had just decided to shelve the DL.
Decided it wasn't a big deal to go through why the quick action in the early weeks of an administration.
Would they decide to reverse that decision and I know you lobby at trying to get the answers as well right.
We're absolutely in these people all work career all employees of the Department of Energy so there was no -- political changeover from one administration -- very -- people.
Obviously -- that they were under tremendous pressure from the office of management and budget and from the White House which it already scheduled a big press event.
Touting the the -- Wonderful aspects of so -- energy and how this was the very first program.
That they have approved for this gigantic long stated what happened I back away from that.
And instead act congress and giving thank you very much for step -- -- hearing -- of this this morning we appreciate it.
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