1/2 a billion dollars. 1/2 a billion dollars down the toilet. Why? Because the administration thinks the way to make an industry grow is by throwing money at it willy nilly. The Bush administration had already passed on backing Solyndra but Obama was sure he knew better. I mean when George Stephanopoulos says that people warned him, you know there had red flags a waving.
I don’t have a problem with this due to the fact it is green energy but do to faulty business theory. Government should get out of the way of business but that isn’t the same thing as throwing money at it. I would love to see us as an active participant in the green energy race but lets not worry about shipping over seas until we can take care of the domestic demand.
If we can build a better product then we should do it. But inflating a company’s worth with false cash flow does not actually make it successful. That is really only done by actually producing a product or service that people want to buy. And Venture Capitalists are always looking for that to invest in.
Venture Capitalist is not a role the United States government should be taking on.