Eastboundtives today went back on their pledge to reveal what happened with the taxpayer loans and instead plead the fifth during a hearing on capitol hill. in my experience if the department of justice, the treasury inspector general, the department of energy inspector general, congress and the fbi are all looking into something, there is probably something going on. and skwrao kim i want to take n executivesndra eck today pleading the fifth and get your taken to. i want to ask mr. harrison if he thinks the american people who invested over half a billion dollars deserve to know what happened to that money. on the advice of my counsel i invoke the privilege afforded to me by the fifth amendment of the constitution and respectfully decline to answer any questions. knowing the financial conditions of the company in mid july were you aware of mr. harrison coming to congress and paying such a rosy picture of the company. i respectfully decline to
Jenna: we welcome you on a busy thursday morning. we are so glad you are with us, everybody, i m jenna lee. jon: i m jon scott. off to a busy heart. brand-new developments in the scandal surrounding solyndra. that is the california solar company the white house touted as a shining example of green job generation. that is before solyndra blew through more than half a billion dollars in taxpayer loans, declared bankruptcy and laid off $100 workers. jenna: racing questions about the approval process for the similar lust program loan guarantees. the subject of an f.b.i. investigation, a congressional hearing this week and the treasury department is launching its own investigation. jon: rich edson is live on capitol hill keeping on this story for us. what happens next, rich. reporter: we ve had a continuation of this argument from that contentious house hearing that we had here
greta: now they have egg all over their face they had these photo-ops and promoting and looks great. there are far more grievous things. for instance, i find it more grievous they knew about it a year ago and allowed a restructuring of the loan that suddenly were not first in line, meaning the taxpayers to collect when the bankruptcy proceedings went forward or would go forward. we were suddenly not first in line. suddenly the rich private investors were. energy policy act of 2005 say all taxpayer loans have first shall we say, on the money that is left overin the bankruptcy. this restructuring allowed these two hedge funds to get their 75 million dollars back, ahead of the 535 million of taxpayers. greta: why? i think that is against the law. greta: why, who did that? department of energy lawyers through legal language indicated they felt
They went out and had the photo-ops and they are promoting and it looks great to show it off. but there are far more grievous things. for instance, i find it far more grievous that they knew about it a year ago and they allowed a restructuring of the loan and we were not first in line, meaning the taxpayers, to collect when the bankruptcy proceedings would go forward, we were not first in line. suddenly, the rich, private investors were. the energy policy affect 2005 says that all taxpayer loans have first shall we say on the money left over in a bankruptcy. and this restructuring allowed these two hedge funds to get their $75 million back ahead of the $535 million of taxpayers. why? i think that s against the law. why? who did that? the department of energy laws through torturous legal language indicated that they felt the restructuring allowed them to do it because the initial $535 was