The Phony Solyndra Scandal (Big government SUPPOSED to take risks the private sector won’t)

NY Times ^ | 9/23/11 | JOE NOCERA

[gusopol3]

Wow; Nocera got paid for his “research” on the article, and you don’t. Now that’s a scandal worth looking into.

[dfwgator]

Both parties are knee deep in Crony Capitalism.

[count-your-change]

“Indeed, risk-taking is what these programs are all about.”

Kinda like going to Vegas with someone else’s credit card! Of course I'll take risks so long as I can pass them off onto the poor lump whose card I'm using.

[fhayek]

Subsidizing political contributors with taxpayer money is NOT a risk for the politician. Besides, we have capital markets to finance risky operations. If they won't touch it, maybe its not a good idea.

[reg45]

It’s easy to take a risk with other people’s money.

[USNBandit]

Unfortunately for the author, his premise falls apart when even a casual look at Solyndra’s business plan showed that failure was imminent.

[oldbrowser]

— especially loans for innovative energy technologies — virtually require the government to take risks the private sector won’t take.

Absolutely not. The mind set of the founding fathers was that the national purse was sacrosanct.

Whereas now it is considered free money to be thrown around as chum for votes or donations. Or as seed money to finance half baked theoretical technologies which no one would be foolish enough to finance with their own money.

[gusopol3]

“Former employees of Solyndra, the shuttered solar company that exhausted half a billion dollars of taxpayer money, said they saw questionable spending by management almost as soon as a federal agency approved a $535 million government-backed loan for the start-up.”

http://www.freerepublic.com/focus/f-news/2782055/posts

Joe Nocera, you are way too late, the word is out.

[fredmann]

I only read the first 20 or so comments following the article, but, surprisingly most were very critical of the article, critical of Solandra, and critical of the Obama administration for making the loan. When even those who read the NYT can’t be fooled by an article making excuses for the administration, and say so in the comments, it proof that you can’t fool all the people all the time. And that’s very bad news for Obama and Co.

[SERKIT]

...loans for innovative energy technologies — virtually require the government to take risks the private sector won’t take....

Huh?!?!?! If venture capitalists won't place their hard earned money on the line, why should the Marxist Central Planning Committee at the White Crib use OUR hard-earned money, confiscated by the government, to "invest" in high risk venture capital scams, where the safety net goes to a campaign bundler? NYT is guzzling the Hopium-laden KoolAid.

[6SJ7]

The New York Times defends fascism. Well, there’s a surprise.

[anoldafvet]

Is this guy brain dead or what?

[indthkr]

" — virtually require the government to take risks the private sector won’t take."

And then the government chooses to compound the risk even further by supporting a brand new mfg. operation in the business-adverse State of California - talk about stupid.

Just more evidence that this was about politics and payoffs - not technology risk.

[goodnesswins]

"(Big government SUPPOSED to take risks the private sector won’t)"

Well, of course....in a commie/fascist country!

[SunTzuWu]

Big difference between funding basic R&D, and backing a private manufacturing company.

[Mike Darancette]

Guess this dummy thinks that hearings should be cancelled when a witness threatens to take the 5th. You have to make them do it moron.

[Mike Darancette]

If it were George W. the impeachment proceedings would have already begun!

Let the tumbrels roll.

[MNJohnnie]

“phoney”

I guess being a NY Times “Journalist” means you get to ignore all the inconvenient facts that don’t fit you bigoted extremist political dogmas.

0 administration’s own business analysis said DON’T DO THE Solyndra deal.

[MNJohnnie]

“phoney”

I guess being a NY Times “Journalist” means you get to ignore all the inconvenient facts that don’t fit you bigoted extremist political dogmas.

0 administration’s own business analysis said DON’T DO THE Solyndra deal.

[Erik Latranyi]

Joe Nocera is just another useful idiot gobbling up the liberal ejaculate.