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The government should spend taxpayer revenues on things that advance our national interests. Clean energy and energy independence advance our national interests. In this, nothing ventured, nothing gained.
Mr. Fisker said it was the Bush administration that encouraged them to apply for a loan.
Another casualty of the Bush administration I guess.
Electric-Car Maker Says U.S. Official Urged It to Seek Loan - WSJ.com
Henrik Fisker, the company's co-founder who is no longer with the company, said that John Mizroch, an Energy official in President George W. Bush's administration, approached him at a California conference in 2008 and suggested the company apply for a U.S. loan.
Mr. Mizroch said in an email that he didn't recall encouraging Mr. Fisker to apply for the loan. He said the program was well-known by the time it began receiving applications in late 2008 and he "didn't have to encourage anyone to apply."
You've not made the case that railroads wouldn't exist without government intervention and I have offered up an example of one that did.
One railroad was built without government help, while government was involved in all others. Those are the facts. No one had the money to build the First Transcontinental Railroad on their own, which was a 2000 mile railroad linking the east with the west. It is a matter of historical fact, not a matter of opinion. The government helped because such railroad would benefit the nation as whole, and such action is supported in the Constitution under the "promote general welfare".
The government should spend taxpayer revenues on things that advance our national interests. Clean energy and energy independence advance our national interests. In this, nothing ventured, nothing gained.
Ok but at least invest in companies that will survive.
Why did the Energy Dept pick Soylandra over First Solar ?
First Solar had solid financials. Soylandra had "friends and family".
First Solar is still in business today and not doing too badly.
Government loans have been made for many decades, and in every administration. Just because billions are lost in bankruptcy every year is not sufficient reason to do away with them. It is in the national interest - particularly now - to grow the economy; and to do that you need grist for the mill.
The government has no business being a venture capitalist.
THEY don't do any sound investigation into what they fund.
Venture capitalists don't want to lose their money and do their homework.
The government gets emails from friends and connections and just tosses money their way.
I disagree with you, but that doesn't matter cause the government will continue to invest in private industry like always has.
Government loans have been made for many decades, and in every administration. Just because billions are lost in bankruptcy every year is not sufficient reason to do away with them. It is in the national interest - particularly now - to grow the economy; and to do that you need grist for the mill.
You don't grow an economy with bankrupt companies and lost loan money.
Bankruptcy is part and parcel with every business venture. One need only look to the GM and Chrysler Chapter 11 business reorganizations to see this. Even successful businesses often get reorganized through bankruptcy proceedings - that's what the bankruptcy law is about.
Bankruptcy is part and parcel with every business venture. One need only look to the GM and Chrysler Chapter 11 business reorganizations to see this. Even successful businesses often get reorganized through bankruptcy proceedings - that's what the bankruptcy law is about.
If GM/Chrysler went through the courts the bondholders would have been protected and the unions hung out to dry.
No, and for good reason. In the GM case, the government was granted a priority lien for administrative expense (which security the government would not have but for the bankruptcy filing); and a major equity share in the reorganized debtor. In almost every reorganization proceeding, the interests of equity security holders are either subordinated or extinguished (viz. equitable interests do not have priority over legal interests of creditors). The bankruptcy laws operate to balance the interests of debtors, creditors, equity holders, unions, government units and other parties in interest.
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