—Defended his administration over two brewing controversies. One concerns a multimillion-dollar federal loan guarantee to a California solar company, Solyndra, that has declared bankruptcy and that Obama's administration supported despite warnings over its solvency. The other involves a Justice Department program aimed at building cases against major weapons traffickers in Mexico that lost track of numerous guns.
On Solyndra, Obama said the loan guarantee program carried inherent risk, and the administration knew not every company would succeed. And he said continuing the program was crucial in order to counter China's aggressive investments and subsidies to boost its own clean energy industry.
On the gun program, called Operation Fast and Furious, Obama said he has confidence in Attorney General Eric Holder, who's come under criticism from Republicans. The president said both he and Holder would be "very unhappy" if guns were allowed to pass through to Mexico in a way that could have been prevented.
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