mr. allison, and i thank you, mr. chairman. >> thank you. mr. herb allison is the author of the report of the independent consultants review with respect to the department of energy loan and loan guarantee portfolio. we appreciate your good work on that report and we look forward to your describing it to us and making any other comments you would like before we ask questions. thank you. >> thank you, chairman bingaman, ranking member murkowski and members of the committee for asking me to testify today. last november, i was appointed by the chief of staff of the white house to study the department of energy's portfolio of loans and guarantees to clean energy projects. i was asked to perform three tasks. first, evaluate the current status of the portfolio. second, propose ways to strengthen management and oversight of the program. and third, recommend a system to provide early warning of problems that might harm the portfolio's value. the scope of my assignment did not include investigating past decisions and actions, because several independent inves

to discuss our loan portfolio and welcomed the independent review of herb allison. mr. allison released a thorough, thoughtful report. he made some important recommendations to strengthen the management and oversight of the loan portfolio. even before the conclusion of mr. allison's review sh we took steps, many of which are consistent with the report's recommendations to improve the loan programs. this includes working to make sure our team has sufficient number of skilled and experienced personnel to monitor and manage the portfolio to protect u.s. taxpayers. with improved and continued to improve processes for pro active monitoring, loan administration compliance, reporting and resolution capabilities to take into account industry best practices. in addition, we put in place rigorous incertainly and external reviews to hold loan program office accountable. the department takes this responsibility to the u.s. taxpayers seriously and we're looking closely at mr. allison's recommendations for additional improvements. mr. allison and his team reviewed each loan in the po

mr. allison and mr. chairman. >> thank you. mr. herb allison as the author of the report of the independent review with respect to the department of energy loan and loan guarantee portfolio. we appreciate your good work on that report, and we look forward to your describing it to us and making any other comments that you would like before we ask questions. thank you. >> thank you, chairman bingaman, a ranking member murkowski and members of the committee for asking me to testify today. last november was appointed by the chief of staff of the white house to study the department of energy portfolio of loans and guarantees to clean energy project. i was asked to perform tasks. first evaluate the current status of the portfolio to be the second, proposed ways to strengthen management and oversight of the program and third, recommend a system to provide early warning of problems that might harm the portfolio's value. the scope of my assignment did not include investigating past decisions and actions because several independent investigations

mr. allison and a thank you, mr. chairman. >> thank you. mr. herb allison is the author of the report of the independent consulting review with respect to the department of energy, loan and loan guarantee portfolio. we appreciate your good work on that report and we look forward to your describing it to us in making any other context would like before we ask questions. thank you. >> thank you in a chairman bingaman, ranking member murkowski members of the committee for asked me to today. last november is appointed by the chief of staff at the white house to study the department of energy's portfolio of loans and guarantees to clean energy projects. i was asked to perform three tasks. first evaluate the current status of the portfolio. second proposed this to strength in management and oversight of the program and third, recommend a system to provide early warning of problems that might harm the portfolio's value. the scope of my assignment does not include investigating past decisions and actions because several independent investigations are alread

mr. secretary, thank you for being here. welcome back to the committee. we just received testimony from herb herbert allison about this report -- from herb allison. we would be anxious to hear any thoughts you have on the same subject. then i'm sure the senators will of questions -- will have questions. >> thank you. thank you for the opportunity to discuss the efforts to strengthen our loan programs and to grow americas clean energy economy. the department has cooperated with congress' request to discuss our loan portfolio. mr. allison released a thoughtful report. he made some important recommendations. we took steps, many of which consistent with the recommendations to improve the loan program. this includes working to make sure our team has the number of personnel to manage the portfolio and to protect u.s. taxpayers. we continue to improve processes for monitoring loan administration compliance, reporting, and resolution capabilities. we have put in place reviews to hold the loan of as accountable. the department takes is seriously.is mr. allison looked at the risk factors behind each loan an estimated