Tax-financed ‘green jobs’ hucksterism haunting Team Obama
Tax-financed ‘green jobs’ hucksterism haunting Team Obama
Even as President Barack Obama criss-crosses the country (only in battleground states, natch, come the ’12 election) to sell his latest jobs plan, his administration’s abject failure to pick business winners stands on full display in Fremont, CA. There, solar-panel maker Solyndra LLC — recipient of $535 million in taxpayer-backed loans — is shutting its doors, slumping into bankruptcy and now crawling with federal agents and GOP-led congressional investigators.
Meaning this administration doesn’t just lean anti-business (notwithstanding its penchant for playing footsie with mega-investor Warren Buffett, General Electric Co. Chairman Jeff Immelt and the Wall Street moguls who make campaign contribution). Team Obama also doesn’t seem to have a clue when it comes to discerning the difference between reasonable bets on a company’s future and politically correct fliers on losers unprepared for stiff competition. And Solyndra is proving to be just that.
via DETNEWS | Weblogs | Daniel Howes’ Blog.
November 21st, 2011 at 2:38 pm
Stick to technology, you’re politics is of no interest – and you’re wrong besides. One bad loan does not condemn what is otherwise a very successful program, and the Solyndra bet was also backed by some incredibly savvy VC money that also (evidently) failed to predict a precipitous drop in the solar panel market. The Solyndra loan was a good risk and a bet on American Manufacturing, unfortunatley it did not work out. We already know the ridiculous right felt the automotive manufacturing sector was acceptable to sacrifice to ideology; it seems their ideology on risk is if we try and fail it means it was not worth trying. Not much of an entrepreneurial view for the party that supposedly backs business.