Claim: President Obama exaggerated when defending his administration's approval of a $535 million loan guarantee to Solyndra, a now-defunct solar company. Obama referred to Solyndra's loan at an Oct. 6 press conference as "a loan guarantee program that predates me." That's not accurate. It's true that the Energy Policy Act of 2005 created a loan guarantee program for clean-energy companies developing "innovative technologies." But Solyndra's loan guarantee came under another program created by the president's 2009 stimulus for companies developing "commercially available technologies."
Fact-check: Obama's Solyndra Problem  - FactCheck.org
Verdict: president obama exaggerated when defending his administration's approval of a $535 million loan guarantee to solyndra, a now-defunct solar company. obama referred to solyndra's loan at an oct. 6 press conference as "a loan guarantee program that predates me." that's not accurate. it's true that the energy policy act of 2005 created a loan guarantee program for clean-energy companies developing "innovative technologies." but solyndra's loan guarantee came under another program created by the president's 2009 stimulus for companies developing "commercially available technologies."
Organisation: FactCheck.org
Author: D'Angelo Gore
Date published: 2011-10-07T22:41:53