Via E2 Wire:
Solyndra’s bankruptcy is “heartbreaking” for the 1,100 workers who lost their jobs, President Obama said Wednesday, while standing behind his administration’s clean-energy investments.
“Do I wish that Solyndra had gone bankrupt? Absolutely not. And obviously it’s heartbreaking it happened for the workers who were there,” Obama said during an interview with the public radio program “Marketplace.”
But Obama defended the Energy Department’s loan program, which has come under fire from Republicans in the aftermath of Solyndra’s collapse last year. The California solar panel maker received a $535 million taxpayer-backed loan from the Obama administration in 2009.
“The understanding is that some companies are not going to succeed. Some companies will do very well,” Obama said. “But the portfolio as a whole ends up supporting the kind of innovation that helps make America successful in this innovative 21st-century economy.”