Energy Secretary Steven Chu to step down

Energy Secretary Steven Chu will be leaving his post, the White House confirmed Friday, exiting the administration at the start of President Obama's second term after a rocky tenure. In his resignation letter, Chu said he intend to stay on board "past the end of February" to help the department find his successor. Chu's leadership has drawn sharp criticism from Republicans who questioned his controversial support for and handling of a $528 million federal loan to solar panel maker Solyndra before the company filed for bankruptcy. Solyndra was the first renewable-energy company to receive a loan guarantee under the 2009 stimulus law, and the Obama administration frequently promoted the company as a model for its clean energy program. Chu attended a 2009 groundbreaking when the loan was announced, and Obama visited the company's Fremont, Calif., headquarters the next year. The company's implosion in 2011 and revelations that the administration hurried a review of the loan in time for the groundbreaking become an embarrassment for Chu and Obama and a rallying cry for GOP critics of the administration's green energy program...more