Solyndra Execs Mum on $500M Government Loan

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Lawmakers investigating why the Obama administration gave a $500 million loan to a failing solar company got no new answers in Washington, Friday.

Top executives for the now bankrupt Solyndra Inc. plead the Fifth Amendment at a congressional hearing to avoid self incrimination.

The California-based business was the first renewable energy company to receive a loan guarantee under the president's stimulus plan to promote green jobs.

Members of the House Energy and Commerce Committee say the administration acted "recklessly" and may have violated the law.

"Congress and the American taxpayers have a right to know whether this loan guarantee was rushed out the door before it was ready for prime time," said Rep. Cliff Stearns, R-Fla. "Whether the administration doubled down on a bad bet after knowing of the company's dubious commercial prospects or even worse."

"Whether 535 million taxpayer dollars were wasted on false or incomplete information," he continued. "We intend to get those answers."

Lawmakers say the executives' silence won't stop their investigation.

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