Don't Bet on Green

No legislator would seriously suggest that a roulette wheel be employed to dig California out of its financial mess.  Yet elected officials routinely gamble with taxpayer money. Lawmakers don't bet on red or black.  They bet on green. "Companies like Solyndra are leading the way toward a brighter and more prosperous future," reported President Obama in Fremont, California (May 2010). In January of 2010, Solyndra appeared to be a promising company.  It boasted annual revenues of over $100 million, employed almost 800 people, and had an "aggressive growth plan" for its solar panel-producing empire.  Solyndra claimed that its loan-dependent plan would create 4,000 new jobs, including 3,000 in construction and 1,000 permanent jobs.  The company promised a brighter tomorrow, powered by clean energy. Policymakers in Washington bought in.  They happily handed over $535 million in taxpayer money to the company, chasing visions of a neon-lit future (solar-powered,...(Read Full Article)

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