That's the headline from today's lead editorial in the Wall Street Journal. The Journal's editors nail the essence of this scandal: that it is all about the political allocation of capital. Writes the Journal,
"The emerging sophisticated defense of Solyndra is Mr. Obama's suggestion that if China subsidizes its industries "of the future," then we must too. But in a free-market economy, which America used to be, private investors decide which industries will succeed in the future, and bet their own money on it. The proper role for government is to support basic research, not commercial ventures that become exercises in taxpayer risk but private reward."
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