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One has to wonder why all the liberals are not up in arms over the Obama administrations using federal government's billions as venture capital in the solar industry. Liberals are quick to criticize Bain for its capital infusion into private industry, but totally ignore the fact that Obama's administration has already cost the taxpayers well over a HALF BILLION DOLLARS with Solyndra and Abound, and has committed to another $197 million to Solopower.
At least Bain had a rather impressive success rate: so far Obama has had NONE. One has to question why the federal government is even involved in private enterprise as a venture capitalist, especially given the lack of oversight on handing out federal monies at will.
But William Yeatman of the Competitive Enterprise Institute says the Energy Department's green loan program created with federal stimulus money has been a failure by any measure. Congress appropriated $4.5 billion for it. Solar panel bankruptcies alone have cost taxpayers $600 million and if SoloPower stumbles, the losses will go even higher. A fourth company, 1366 Technologies, received a $150 million loan but has not even built its manufacturing plant yet.
Yeatman has little faith in SoloPower: "It looks like it will fail for the same reasons as Solyndra."
One has to wonder why all the liberals are not up in arms over the Obama administrations using federal government's billions as venture capital in the solar industry. Liberals are quick to criticize Bain for its capital infusion into private industry, but totally ignore the fact that Obama's administration has already cost the taxpayers well over a HALF BILLION DOLLARS with Solyndra and Abound, and has committed to another $197 million to Solopower.
At least Bain had a rather impressive success rate: so far Obama has had NONE. One has to question why the federal government is even involved in private enterprise as a venture capitalist, especially given the lack of oversight on handing out federal monies at will.
But William Yeatman of the Competitive Enterprise Institute says the Energy Department's green loan program created with federal stimulus money has been a failure by any measure. Congress appropriated $4.5 billion for it. Solar panel bankruptcies alone have cost taxpayers $600 million and if SoloPower stumbles, the losses will go even higher. A fourth company, 1366 Technologies, received a $150 million loan but has not even built its manufacturing plant yet.
Yeatman has little faith in SoloPower: "It looks like it will fail for the same reasons as Solyndra."
These companies (that Bain helped succeed) all in someway have indeed contributed to our economy. Retail, which I also participate in, is a valued industry. Unfortunately, the majority of these companies have also contributed to obesity, heart disease, diabetes, landfill waste; conversely have promoted talents, both academically, physically and musically and provided entertainment. Too bad those that contributed to the Obama campaign were not given as many contributions and opportunities to thrive with alternative sources of power to lessen our reliance on oil as a resource, never mind that which produced the thousands of bags to put the stuff in.
One has to wonder why all the liberals are not up in arms over the Obama administrations using federal government's billions as venture capital in the solar industry. Liberals are quick to criticize Bain for its capital infusion into private industry, but totally ignore the fact that Obama's administration has already cost the taxpayers well over a HALF BILLION DOLLARS with Solyndra and Abound, and has committed to another $197 million to Solopower.
Evidently, Liberals are happy when their tax dollars are wasted and used for venture (CRONY) capitalism, but it's NOT okay for a private businessman to use HIS OWN money?
Evidently, Liberals are happy when their tax dollars are wasted and used for venture (CRONY) capitalism, but it's NOT okay for a private businessman to use HIS OWN money?
Throwing a few million here, a few million there, and a few million over there,....pretty soon we start talking about REAL money. Solyndra and Abound has already cost taxpayers $600 million. Solopower has the taxpayer on the hook for another $197 million, and then there is 1366 Technologies sitting in the wings with a loan of $150 million that hasn't been used yet.
Repeating the same mistake using taxpayer. No big deal.
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