Behind the Headlines

  • Picking Winners and Losers

    September 15, 2011
    written by

    In response to:

    "The Solar Orphan"
    Wall Street JournalSeptember 15, 2011

    Hey, what’s another $500 million?

    More and more it looks like there might have been something fishy involved in the federal government’s $535 loan guarantee to solar-technology firm Solyndra. Not great news for the Obama administration or the green movement (especially when the CFO of another green company just pleaded guilty to skimming federal funds).

    In time these details will get sorted out. Maybe there was no illegal or improper conduct. Even so, the case is disturbing for how little the administration seems disturbed by it. As the Wall Street Journal puts it, “the Administration still seems to think such loans are a splendid idea.” Sure, let’s bet a half billion of taxpayer dollars on an unproven business about which auditors report “substantial doubt about its ability to continue as a going concern.”

    That in itself is a scandal.

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