Energy Department Can't Manage $30 Billion Loan Program

The Energy Department can barely manage its $30 billion loan guarantee program. That's partly because it doesn't keep a central set of records. The Government Accountability Office found Energy lacked consolidated data on loan applications. To find information for the GAO audit, Energy staff had to scrounge around for months. GAO concluded DoE was unable to provide adequate oversight. The loan guarantee program caught the eye of Congress last year when loan recipient Solyndra went bankrupt.