More than a thousand San Francisco Bay Area green jobs evaporated this week as a green venture failed, shutting down and going into bankruptcy. Going down the drain with the Obama-touted solar panel maker were more than $500 million taxpayer dollars that had been infused into it by our oh-so-brilliant, far-seeing, and investment-smart federal government bureaucrats. The details are set forth in this report. The failed company was the third feel-good green solar venture that has gone under this year, according to this account.
There is a lesson here.
Plenty of private venture money is available for innovative enterprises with realistic business plans and reasonable prospects for attaining viability. Those funds, however, are administered by experienced and prudent investors rather than feckless politicians and dim bulb bureaucrats who recklessly throw about other peoples' money.
Therefore marginal (or worse) endeavors go to the latter unaccountable and unrestrained sources to latch onto dollars spewing from the out-of-control federal funding fountain on the Big Rock Candy Mountain that Washington, D.C., has become.
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