(T)he whole Solyndra unfolding scandal shows the extent to which the administration supports crony capitalism.Dean says this.
And as for that "active interest", that just might be George Kaiser, an Oklahoma billionaire and 2008 Obama campaign bundler who owned 39% of Solyndra's parent company.Here's my take on what happened. The Obama Administration is filled with True Believers in two propositions:
- Government investments can lead to wondrous growth in certain industries.
- Global Warming / Climate Change is an existential threat to our way of life.
It lost because the people doing the investing were childlike in their innocence of real business. Cash flows and balance sheets and marketing and sales and labor costs - all of this was alien to them except as a theoretical construct. This administration has less private sector experience than any other in history, by a long shot. All of this free market stuff is unpleasant and mysterious.
In short, the folks who did this investment had no idea what they were doing. There was no skullduggery, just a lot of naïveté and a firm belief that they were doing what was right and good.
Update: Peggy Noonan, our Holy Ambassador to the Court of the Mainstream Media, is thinking along similar lines.
History will write of this era when history has the time and the distance. The president would have been helped by wise old aides with wise old heads, people who somewhere along the line had had to meet a payroll. Instead he was surrounded by bright, committed, energetic naïfs who didn't know what they didn't know. They knew Democratic Party politics.