Sunday, August 05, 2012

ON OBAMA'S SOLYNDRA. Honesty is not their strong suit:
One Solyndra investor, Brad Jones, even told then-White House United States National Economic Council Director Larry Summers:
One of our solar companies with revenues of less than $100 million (and not yet profitable) received a government loan of $580 million; while that is good for us, I can’t imagine it’s a good way for the government to use taxpayer money (I’d prefer my opinion about that specific company to be between us). Every administration seems to feel it knows better than the private markets how to allocate capital, and I’ve just never seen that be true.
Jones is right. Whatever role government has in building roads and bridges, administering the rule of law, and investing in basic scientific research, it should not be gambling taxpayers’ money by investing in specific companies. It’s bad enough that Obama had to learn this at our expense. It’s even worse that he doesn’t seem to have learned it at all.
Neither is intelligence.

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