WASHINGTON (AP) -- Energy Secretary Steven Chu says no one from the White House ever contacted him to take action on a half-billion-dollar loan to a California solar company that later went bankrupt.
Chu told a House committee under oath that he made all decisions involving the company known as Solyndra -- and said he made those judgments with the best interests of the taxpayer in mind.
Chu also said he wasn't aware of his staff's predictions in 2009 that Solyndra was likely to face severe cash-flow problems. He said market changes that led to a steep decline in the price of solar panels was, in his words, ''totally unexpected."
Chu also said he doesn't think taxpayers will recover much of the $528 million loan made to Solyndra under the 2009 economic stimulus law.