DOE mismanaged $1.5 billion in stimulus-backed “investments" (Representatives, cost, financial)

[Tilt11]

No kidding: DOE mismanaged $1.5 billion in stimulus-backed “investments,” report says « Hot Air

The Energy Department’s (DOE) internal watchdog is attacking DOE management of a $1.5-billion stimulus program to help develop technology that captures industrial carbon dioxide emissions.
An Office of Inspector General (IG) audit made public Tuesday examines $1.1 billion in funding for 15 projects.
The audit notes three project recipients together received $90 million even though reviews of the proposals “identified significant financial and/or technical issues.”
“For example, the Department awarded more than $48 million to one recipient whose financial condition precluded it from obtaining a satisfactory merit review score. Rather than addressing the underlying issues, the Department accepted increased risk and lowered the recipient’s required cost share,” the IG states.
The report also finds that DOE’s monitoring of some funds was not robust enough, noting up to $18.3 million in “questionable reimbursement claims” from funding recipients.

Much more important than the agenda being pushed currently by media and the like. But of course, most wont hear about it. Hell, its only our money they are wasting as they push for tax increases and no cuts in spending. But hell, why should we care?

Yay. More big government please....

[txgolfer130]

Sounds like the DOE was trying to adhere to the RWNJ example of letting the banks and HF's do as they wish and not share in the risk! Kinda like certain Senators and Representatives saying increased scrutiny and regulation over investment RISK will destroy America and it's way of life

So when big gov't is imitating the "free market" I guess you're now against that also?

But what the hell...it's just OUR money anyway.

[pknopp]

And people wonder why the administration won't be getting any more blank checks.

[HappyTexan]

Originally Posted by txgolfer130

Sounds like the DOE was trying to adhere to the RWNJ example of letting the banks and HF's do as they wish and not share in the risk! Kinda like certain Senators and Representatives saying increased scrutiny and regulation over investment RISK will destroy America and it's way of life

So when big gov't is imitating the "free market" I guess you're now against that also?

But what the hell...it's just OUR money anyway.

Too bad it's a DEM administration though. Nice try at deflection but this is DEM....