Obama knew 'some companies' wouldn't work out; 'Solyndra was one of them'

By Andrew Restuccia - 10/06/11 01:40 PM ET

President Obama defended the Energy Department’s renewable energy loan guarantee program Thursday and called out a top House Republican for saying that the United States can’t compete with China when it comes to solar and wind manufacturing.

"We knew from the start the loan guarantee program was going to entail some risk, by definition," Obama said.

"The overall portfolio has been successful. … There are going to be some companies that don't work out. Solyndra was one of them."

The Hill's E2 Wire has more on President Obama's comments regarding Solyndra and the renewable energy loan guarantee program.

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http://thehill.com/video/administration/186027-obama-knew-some-companies-wouldnt-work-out-solyndra-was-one-of-them-

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