Audio: "There are all sorts of people who have wonderful 20/20 hindsight"

Secretary Chu believed in lending the money to a company like Solyndra, because of “how important it is to develop renewable energy sources and technologies and specifics will all unfold.” Mr. Chu added that Western Europe, Japan, Korea, and China are also supportive of seeing renewable energy be developed through government spending, so the United States should be as well.

However, when Secretary Chu was pressed for further reasons as to why the loan was approved by his department if the Office of Management and Budget cautioned that it would be a risky loan, he answered: “The details of Solyndra …there are all sorts of people who have wonderful 20/20 hindsight, but I don’t think most of that is born out by going back and looking at what really was happening.”