GAO Slams DOE Loan Program

From the Hill;

The Energy Department has a flawed system for documenting and tracking applications for taxpayer-backed loans, a weakness that could hinder oversight of federal investments in green-energy projects, congressional auditors said Monday.

Ya think? Really? Of course following even a flawed system would help but the politocrats at DOE refuse to follow their own rules. From the General Accounting Office's report;

“DOE did not always follow its own process for reviewing applications and documenting its analysis and decisions, potentially increasing the taxpayer’s exposure to financial risk from an applicant’s default,” the report says, while noting that the department’s existing review process is “generally as stringent as or more stringent” as the one used by private lenders.

There will be pay backs after the election!