Posted on 09/01/2011 5:31:38 PM PDT by Nachum
September 1, 2011 3:26pm 0 Comments The Department of Energy is not a business byConn Carroll Senior Editorial Writer Follow on Twitter:@conncarroll
Asked at today's White House press briefing, "What does it say about the President's so far as he gets ready for this new plan, that this company he promoted and gave government money too has gone bankrupt and is laying off 1100 people." Carney answered:
The whole purpose of this program, which has a broad portfolio of many companies that are doing well was to invest in cutting edge technology. ... There are no guarantees in the business world about success and failure. That is just the way business works. And everyone recognizes that. And that is why there are over 40 companies, as I understand it, 40 guarantees involved in this program that merit looking at. You can not measure the success based on one company or the other.
This would actually be a decent answer if Carney worked for a venture capital firm and not the federal government.
Of course not every investment works out. As Milton Friedman liked to say, "Capitalism is a profit and loss system. The loss part is just as important as the profit part." Profits and losses send signals to entrepreneurs and investors informing them where best to place their resources.
(Excerpt) Read more at campaign2012.washingtonexaminer.com ...
Asked at today’s White House press briefing, “What does it say about the President’s so far as he gets ready for this new plan, that this company he promoted and gave government money too has gone bankrupt and is laying off 1100 people.” Carney answered:
should that be Family money ?
The list, ping
Let me know if you would like to be on or off the ping list
These dayz it’s an anti-Business.
So, how are the other 39 doing?
I wonder if it has its own police force like the Department of Education.
Subsidies are actually harmful. I wonder if people will ever figure that out?
http://www.thefreemanonline.org/columns/our-economic-past-subsidies-hurt-recipients-too/
Brilliant piece. The laws of economics are like the laws of gravity. One can only ignore them for so long.
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