watchdog who exonerated obama on energy loans now an obama donor - energy storage companies

WASHINGTON-A senior Wall Street executive conducted an independent review exempting the Obama administration from its plan to lend to energy companies, contributing $52,500 to relending
According to The Associated Press's comments on the campaign record, President-elect Barack Obama was in the months after his job was completed.
The executive defended the integrity of his conclusions and said he had decided to donate to Obama after his work.
The campaign donation to Obama was in Herbert M. Allison Jr.
In congressional testimony, concerns about the high risk faced by the Energy Department's $23 billion federal loan to green energy companies have been minimized.
Two weeks later, Alison began donating money to the Obama campaign.
As of last month, his contributions to the Obama and Democratic national committees totaled $52,500.
Allison was previously the former head of the government's massive acquisition of toxic assets on Wall Street.
Allison did not donate to Obama in his four campaigns.
The monthly review of the energy sector loans, he has a long history of working with both parties and providing funding to both parties.
However, Republican officials and congressional critics of Energy loans say Alison's donation to Obama raises doubts about his objectivity and highlights his decision not to evaluate millions of dollars.
To provide dollar loans to two companies that later went bankrupt.
The troubled solingdra solar panel company and the energy storage company Beacon Power.
Alison's report, which was completed in February and touted by the White House, acknowledged that the Energy Department could lose as much as $3 billion in loans, but it concluded that, this is well below the $10 billion Congress has allocated to the top. risk companies.
The review did not assess the two bankrupt companies because the loans were no longer available.
Alison told Congress, "the Department of Energy has negotiated protection measures in the loan agreement so that it can cut off further funds and ask for more credit protection if the project does not meet its target.
He also urged the Department of Energy to strengthen supervision.
Alison defended the integrity of his comments in an interview with The Associated Press.
He said that he did not decide to support the presidential candidate until after he completed his work, and that his choice was approved by DOE lawyers before he began his review on last October, to "ensure that there are no signs of prejudice or conflict of interest.
"I was on the record at the White House that it had to be a completely independent review and they agreed," he said in a telephone interview at his home in West Port, Connecticut on Wednesday.
"I don't think it's up to anyone's political persuasion, it has to be in full line with the facts, otherwise it's not credible.
Alison said he decided to support Obama after seeing "his administration acting and deciding that I widely believe in what he is trying to accomplish.
"Two weeks after Alison testified to the Senate Energy and Commerce Committee on March 29, she donated $2,500 to the Obama campaign.
In May, he offered $15,000 to the Obama Victory Fund, a joint fundraising committee that supports Obama's re-election.
The National Committee of the Democratic Party.
Allison again provided the fund with the same amount in June, and then added another $20,000 in July.
Alison has donated to both parties, but his past gifts tend to be much less than his current contributions, usually no more than $1,000 or $2,000, according to the Federal Election Commission's record
Alison explained more of his donations to the Obama campaign, saying "there's a lot more money in politics today than in the last few years, and I decided to go that way.
"Alison gave to Republicans like Sen.
Tom cowborne of orkama and Sen
Chuck Grassley in Iowa and Democrats like lawmakers
Caroline Maloney of New York and former senator of NEAsBob Kerrey.
Alison's presidential preference is mostly Republican. Sen.
John McCain and former senator of Arizona
Bob Dole, Kansas
In 2008, a year before Obama appointed Alison as assistant Treasury secretary, he also donated $2,300 to Obama.
The White House and the Obama campaign defended Alison, saying his donations did not affect his work as an independent reviewer of the loan program.
They point out that over the past 20 years, the Republican presidential administration and the Republican campaign have repeatedly hired him as a reason for Alison to independently oversee the troubled government program. "Mr.
White House spokesman Eric Schultz said: "Alison was selected for the study because of his relevant expertise, and he is a civil servant widely respected by Democrats and Republicans . ".
Schulz added that Alison's analysis of the DOE loan portfolio is thorough and reliable, as is evident from other independent reports confirming his findings.
The Obama campaign said, "completing an independent mission has not deprived him of the right to continue to represent many candidates in political progress as he has done in the past.
Allison, a former Merrill Lynch executive, worked for several Republican governments and earned a reputation for dealing with troubled federal programs.
During McCain's failed 2000 presidential campaign, he served as president of the state treasury, reportedly becoming Treasury secretary if McCain wins.
Allison was nominated by President George W.
Bush will be president of Fannie Mae after quasi-Fannie Mae
After the Wall Street crash in 2008, government housing lenders were placed in regulators.
A year later, Obama appointed Alison as assistant Treasury secretary to oversee Bush's Troubled Asset rescue program to stabilize Wall Street banks and investment companies.
While working at the Treasury, Alison was one of the senior officials in conflict with TARP inspector general Neil barrowski, who accused the department of failing to properly track government bailout funds provided to banks and investment institutions.
Barofsky declined to comment on his deal with Allison.
Alison left the Treasury in 2010, but returned last year to be responsible for the review of energy loans.
After the collapse of the company in Soldra, California, Republican criticism grew, and the White House agreed to the review.
Bankruptcy has cost the U. S. economy dearly. S.
Taxpayers lost $0. 528 billion in loans. Rep.
Cliff sdenFla.
The chairman of the House Energy Committee's oversight subcommittee said Alison's donation to the Obama campaign supported Republican warnings this year that the White House review was questionable.
Mr. sden said that Mr. Allison's financial support for the Obama campaign was undermining (his)
This again shows that the president does not want a careful, independent review of his dangerous green jobs program.
Joe Pounder, a Republican National Committee spokesman, said: "Alison's role as a big donor to Obama" has raised serious questions about a government that puts campaign cash ahead of taxpayer money.
Alison declined to say whether he would continue to donate to Obama.
He said: "I may support Republicans next time.