In 1887 Alexander Tyler, a Scottish history professor at the University of Edinburgh, had this
Hope for Change
First Solyndra, now ENER1. The parent company of athe car battery maker that received a $ 118M grant – not: loan – from the White House filed for bankruptcy. As far as can be ascertained, at least 50% of this amount will be unrecoverable.
So, $ 59M down the drain ? Not much more than a drop in the ocean, really, if you compare it with the new, Senate-approved, raise of the debt-limit of $ 1.3T.
$ 59M, that’s barely 0.005%, so why should we make a big fuss about it ?
Because we have a “CEO” who invests stockholder money into companies that stubbornly keep going under under. A CEO for whom good intentions count more than good results. A CEO who hopes to get some change for his bucks, but who simply can’t do it.
Contrast this with an ex-Governor from Massachusetts, who – as an evil venture capitalist – invested his stakeholders’ money such that unsustainable business models got liquidated to yield maximum profit, which he then invested into sustainable business models that created new jobs. The result: no more money got lost; productivity was increased; net jobs were created; stakeholders and their CEO made profits. Everybody got his fair share. Doesn’t that sound like the State of the Union Address ?
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