One of the many, many contentious issues that make up the ongoing pointless battles between the Democrats and Republicans in Washington, D.C. is the Solyndra case, about how the now-bankrupt solar-power company got loan guarantees. Republicans say the Obama Administration pushed the loans through in a less-than-honest manner. The Administration and the DOE say everything was aboveboard.
The U.S. Congress will be seeing a bill this week that, if adopted, would allow automakers the ability to obtain $20 billion in federally backed loan guarantees. The bill is open to any auto manufacturer including foreign-based Toyota and Honda, but it's clearly targeted at the domestics. As the credit ratings of the Big 3 continue to drop, this bill could potentially save them hundreds of millions of dollars while fomenting the development of clean-air technologies. U.S. Representative Mike Rog