I just read an article in the Washington Post chronicling the Obama administration’s investment of tax-payer money into Solyndra, the failed solar panel company that has come to represent — quite rightly — the central planning malignancy that currently occupies the White House.
I’ll have much more the say about this later, but I couldn’t wait to post the phrase a Solyndra executive used to assure colleagues that its financial troubles would be made to go away by Obama: he referred to the “Bank of Washington”, by which he meant the company’s access to tax-payer funds via the Obama axis of government bureaucrats who never worked a day in their lives — career politicians all.
The “Bank of Washington”, which funneled half a billion dollars to a company that everyone knew was headed for financial disaster, even including Obama campaign donors, who tried to warn the administration against photo ops with Solyndra.
This is the real legacy of the Manchurian Impostor Occupier: A man who believes in the supremacy of the State on matters the State knows little or nothing about (such as which companies are good bets for venture capital, or how to provide health care for 300 million people).
The Chinese Communists have sold off state-owned-enterprises (SOEs) to private investors in an explicit acknowledgement that government bureaucrats destroy wealth and condemn whole populations to starvation and death. Vietnamese Communists are pursuing the same path.
Do Americans want to be going in the other direction, towards state control and funding of businesses?
More on this subject soon.
Just tweeted.
Bob A.
The line was spending like a drunken sailor, with one difference the drunken sailor quits spending when he runs out of money. I have thought since day of the Manchurian’s term that he viewed his election like being handed to combination to the safe. No care was made with the money spent which by the way he did not earn. Just shell out cash to campaign contributors and or their friends. He should be forced to work and pay back every squandered cent he took it upon himself to waste. But again….Never Had A Job.