Quotes

"Fascism and communism both promise "social welfare," "social justice," and "fairness" to justify authoritarian means and extensive arbitrary and discretionary governmental powers." - F. A. Hayek"

"Life is a Bungling process and in no way educational." in James M. Cain

Jean Giraudoux who first said, “Only the mediocre are always at their best.”

If you have ten thousand regulations, you destroy all respect for the law. Sir Winston Churchill

"summum ius summa iniuria" ("More laws, more injustice.") Cicero

As Christopher Hitchens once put it, “The essence of tyranny is not iron law; it is capricious law.”

"Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan

"Law is where you buy it." Raymond Chandler

"Why did God make so many damn fools and Democrats?" Clarence Day

"If I feel like feeding squirrels to the nuts, this is the place for it." - Cluny Brown

"Oh, pshaw! When yu' can't have what you choose, yu' just choose what you have." Owen Wister "The Virginian"

Oscar Wilde said about the death scene in Little Nell, you would have to have a heart of stone not to laugh.

Thomas More's definition of government as "a conspiracy of rich men procuring their own commodities under the name and title of a commonwealth.” ~ Winston S. Churchill, A History of the English Speaking Peoples

“Laws are like cobwebs, which may catch small flies, but let wasps and hornets break through.” ~ Jonathon Swift

Monday, July 23, 2012

Hoax and Scam, Solyndra and the Perils of Green Industrial Policy

A government scam excuse to just tax and steal.

Issues 2012 | Solyndra and the Perils of Green Industrial Policy


Diana Furchtgott-Roth, Senior Fellow, Manhattan Institute

Diana Furchtgott-Roth's book Regulating to Disaster: How Green Jobs Policies Are Damaging
America's Economy will be released next month by Encounter Books.

The Obama administration has made providing taxpayer dollars for so-called “green jobs” a top policy priority. In his 2011 State of the Union address, the president maintained that government subsidies for “clean energy technology…will strengthen our security, protect our planet, and create countless new jobs for our people.”[1] The financial failure of a number of specific firms which received Department of Energy loan guarantees, however, has raised the question of whether the policy itself is effective or sustainable.
The tangled tale of Solyndra, a startup company that thought it could make solar panels and sell them profitably, ably illustrates the perils of “industrial policy,” a shorthand phrase for government’s attempts to decide which new industries or startups to support with federal money, loan guarantees, or tax benefits. The Fremont, California-based solar company declared bankruptcy in September 2011 after receiving a total of $528 million in federal loans.
It’s not just Solyndra that has gone bankrupt. Abound Solar, a solar panel manufacturer based in Colorado that received funds from the federal government, filed for bankruptcy on July 2, citing aggressive pricing actions from Chinese solar panel companies as the principal cause. Abound received a $400 million loan guarantee, and spent about $70 million before the Department of Energy (DOE) halted its credit. The company plans to suspend operations and dismiss 125 employees.
In August 2010, Beacon Power Corporation received a $43 million loan guarantee from the DOE to build a $69 million, 20-megawatt flywheel energy storage plant in New York. After receiving $39 million of the loan, the company filed for bankruptcy in October 2011 and was subsequently bought by a private equity firm.
Nevada Geothermal, a struggling company heading into financial trouble, received a $98.5 million loan guarantee in September 2010. 
-the list continues at the link-
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