Page 275 - Restructuring News Today

Authorize them. the white house says there was no "rush," to get the loan guarantees out before the deadline and all were approved open the merits, but issa is not sure and wants to ask the energy secretary. >> the last day the law was there, $4.75 billion was thrown into loans and a question we have for secretary chu: tell us why that last day somehow you had everything you needed and you did not is it over a period of time before? >>reporter: it remains if the loans are questionable in terms o...

Creditors in a better position. >> private creditors would get paid back in this bankruptcy before the federal taxpayers. >> exactly. >> there is where the question happens, why did we breach the protocol that was required, why did we do something that was strictly prohibited. >> an e-mail from the treasury secretary to the department it budget director reads in part, quote, legal counsel believes that the statute and doe department of energy regulations both require the guaranteed loan should n...

Guarantees were made on the merits, and there was no rush to get them done before the deadline, but congressman issa isnt sure, and he wants to ask the energy secretary about it. >> on the last day that the law was there, $4.75 billion was thrown into loans, and one of the questions we have for secretary chu is tell us why that last day somehow you had everything you needed, and you didnt have it over a period of time before? >> reporter: concerns follow solyndras bankruptcy leaving taxpayers on...

There is a major restructuring going on in the worlds economy, major here in the united states. one of the decisions were making today, as i say it as mayor of chicago, decisions we make over the next two to three years will have an impact on what it will be like in the next 20 to 30 years. thats the same decisions facing there. and if you cant hear the publics frustration, not just whats happening on wall street, but happening in the neighborhoods of chicago, if you cant hear it, that means you...

The restructuring was probably illegal. and assistant treasury secretary e-mailed the deputy budget director "in february we requested in writing the department of energy seek the department of justices approval of any proposed restructuring to our knowledge, that has never happened." we also learned that the administration was asked for another $5.4 million for solyndra in late august, top white house aides e-mailing the deputy budget director calling that situation "a bleep show, a mess." the ...

Meanwhile, another house subcommittee plans the hearings on solyndra on friday. >> shep: on friday, the white house released 160 pages of e-mails on all this. what did we learn from those e-mails? >> well, it seems the company was constantly out of money and in february of this year, the energy department was warned about a loan restructuring deal that was aimed at teasing another group of money, but may have been illegal. e-mailing the budget director, quote, in february, we requested in writin...

Of energy, seek the department of justices approval of any proposed restructuring. to our knowledge, that has never happened. house oversight committee chairman darrell issa wants to ask secretary chu about it. >> why did we breach the protocol that was required? why did we do something strictly prohibited? >> ice-has questions about loan guarantees to other companies that were made on september 30th, the last day of the legislation that authorized them. >> one of the questions we have for secre...

its one of the u.s. militarys most important weapons systems playing a critical role in the fight against terror. and now theres new growing concern over the computers that concern drone aircraft. theyre infected with a persistent virus but it is only part after much, much bigger threat. our correspondent chris lawrence is investigating all of this for us. chris, what are you picking up? >> right now, officials dont know if this virus is benign or truly doing harm. it has not stopped t...

Peoples lives. they, too, need help. not a bailout. but a chance to get the economy moving for them. and thats an understandable sense of frustration on their part. and its not just limited to the wall street. go in europe. go in asia. go other places. there is a major restructuring going on in the worlds economy, major here in the united states. one of the decisions were making today, as i say it as mayor of chicago, decisions we make over the next two to three years will have an impact on what...

>> we got started on a three-month vacation. >> thats right. but now we know this is going to be decided by june of next year. >> nice to see you, sir. well be watching, of course. >> always a pleasure. >> it is not over. there is more news about the solyndra scandal. there are reports that the fbi is investigating the company. as you know, the obama administration gave them a $535 million loan backing deal and then, of course, the company went belly up and all of us are on the hook for the gian...