"No More Solyndras"
There's more political fallout in Congress over the big federal loan guarantee to the failed Fremont solar power company Solyndra.
On Friday, the House voted along party lines to pass a Republican-sponsored bill called the "No More Solyndras Act." The legislation would end new loan guarantees to companies working on alternative energy projects. Los Angeles Democrat Henry Waxman warned the bill will slow the development of innovative energy technology.
"Does anyone believe there are no new ideas out there that would be worth considering in the years to come? Of course not," Waxman said. "Let's allow the best projects to compete for the funding."
Solyndra went bankrupt last year after getting $530 million in federal backing. The failure triggered criticism of the Obama administration's handling of the loan program. The "No More Solyndras Act" now goes to the Senate.