The news that Green Energy darling Solyndra is filing for bankruptcy should surprise no one. The political allocation of capital is less and less an exercise in the the government picking winners and losers and more and more an exercise in picking losers and more losers. In any event, it's a half billion dollars of public money down the drain.
What is surprising is that some believe that it wasn't enough. From a blog at the San Jose Mercury News comes two local California legislators who are quoted as wishing that the government had done more for this company. From the blog,
“Although there has been criticism of the amount of public funding received by the company, we must recognize that our fiercest foreign competitors often receive substantially more assistance from their own governments.”
I'm speechless.
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