Administration Restructured Loan to Favor Donor

Worth Clicking: Blasts from the past wound Romney

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September 16, 2011

Administration Restructured Loan to Favor Donor

The Obama administration "restructured a half-billion dollar federal loan to a troubled solar energy company in such a way that private investors -- including a fundraiser for President Barack Obama -- moved ahead of taxpayers for repayment in case of a default," the AP reports.

"Given the company's shaky financial condition, Republican lawmakers say the decision to restructure the loan raises questions about whether the administration protected political supporters at taxpayers' expense."

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Taegan D. Goddard is the founder of Political Wire, one of the earliest and most influential political web sites.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country, including the Washington Post, USA Today, Boston Globe, San Francisco Chronicle, Chicago Tribune, Philadelphia Inquirer and Christian Science Monitor.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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September 16, 2011