Solyndra, the solar energy company, filled for bankruptcy this week and with it went the over half a billion dollars in U.S. taxpayers' subsidies. Those subsidies were subordinate to most debt, amazingly. Government officials apparently sat on the company board right through the protests of good financial health to the bankruptcy itself. The FBI is now going through the company's papers and through the homes of several company employees.
This will be a mess. The company was close to Obama and company officials visited the White House often over the last few years. More, a number of White House emails raised questions as to the wisdom of this support. This failure and Obama's proximity to it will make for mouthwatering Republican politics. Honest appearing questions will be followed by some committee with subpoena power. But what's the fuss? The government made their investment. It didn't work but it will show up in the GDP as a positive contribution for the year. It can honestly be counted as a stimulus of the economy.
Isn't that the idea? Isn't that what we want?
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