The Solyndra Scandal
Haven’t written about this. But it is indeed a terrible scandal, because the private sector never ever puts money into ventures that end up failing:
That is the whole post.
He fails, of course, to realize the difference between private investors betting on what consumers will get behind via voluntary exchange in the market and government using money taken from individuals under pain of law and giving it to select individuals as political patronage. The failure of a private concern is equivalent to the government giving a half billion dollars of other people's money to a private firm in return for political support, regardless of the fact that the firm's business plan was fatally flawed from the start. In February, the government also gave up its "first lien" position in an asinine bid to attract more private investment into the failing company. So the chances of American's getting any of their money back is not virtually nil. It is absolutely zero.
Creative destruction, innovation, the beauty and power of the market are lost on the Progressive. Government deciding what is best for you, determined by base political calculus, is the way of things. And anyone else who disagrees with this worldview is just too stupid to realize how right, how brilliant. the Progressives are.