The administration’s rationalization is priceless. According to DOE officials, the restructuring was necessary “to create a situation whereby investors felt there was a value in their investment.” Of course, the value in an investment is the value created by the business in which the investment is made. Here, Solyndra had no value. Investors could be enticed only by an invalid arrangement to recoup some of their losses — by a scheme to make the public an even bigger sap.One of the most absurd assumptions on the part of government is that it can pick winners and losers in the private sector. As Solyndra shows, even with a stacked deck, the government loses its – or rather, our - shirts.
And here’s Andrew Stiles, also at NRO, with some hard facts on Solyndra’s risky technology, courtesy of Rep. Brian Bilbray.
On the more general topic of the Green Scare, Ross Kaminsky takes on alarmist Thomas Friedman in this article at The American Spectator.
Next time you hear someone bring up the Texas wildires as proof of global warming (as Thomas Friedman, that idiot), did, here's a little tidbit to tell them:
ReplyDeleteTexas has always been subject to wildfires; in fact, so has the whole West in times of drought, which are natural. I remember seeing several when I was a child. The only reason it makes big news now is that more and more people are living where people never used to live. When I read about the wildfires around my home town, I was amazed to learn of all the homes that burned, because those areas were nothing but wilderness ranch country when I lived there.