Solyndra is a huge Republican scandal
The Republican complaints about Department of Energy loans to Solyndra reveal the scandalously anti-market bias of so-called Conservatives. Anyone who has worked in competitive markets knows that even the best ventures can fail - hard work and good ideas can be sunk by bad timing or unpleasant surprises. The high risk, big idea projects that DOE invested in are - well - high risk. But the Republican party doesn’t get market economies, they only understand no-bid government contracts, insider deals, and corporate looting of the kind Mitt Romney did. The GOP is the party of Rick Perry, a guy who has never worked in the private sector a minute but who became rich on shockingly lucrative real-estate deals with people who do a lot of business with the state government. How is someone like Rick or Dick Cheney or Darryl Issa or Ted Cruz ever going to even begin to understand the complexities and risks of developing an innovative technology into a new business? George W. Bush, who couldn’t succeed despite all his connections, finally hit the big time by getting the State of Texas to seize other people’s homes via eminent domain and then sell him the property for next to nothing. Ted Cruz with his rolex has a career built out of parlaying business connections into government connections into more business connections. Newt Gingrich epitomizes the ability of Republican grifters to build lucrative careers on sponsorship. Mitt Romney is kind of the other side: a fortune built by starting with a lot of money and using money and connections to leverage open companies other people built, drain away the cash, and leave the mess for someone else to clean up. How can people like that ever understand a Solyndra or a Tesla Motors (“losers” according to Romney), Berskhire Hathaway, Costco, or any business that creates real value and operates in a risky competitive market? When you operate in a real market success is not guaranteed. When you operate in the Republican Grifter World - it just depends on who you know.
minor edit: aug 3 2013