Sunday, January 15, 2012
The Government as Venture Capitalist (or How to Be Stupid With Other Peoples' Money)
The dismal record of the government's venture capital investments speaks for itself. Regardless of which party is in power the results have been dismal and costly to the taxpayers with little, if any, benefit. The Green Energy program is another shining example of why bureaucrats should not be allowed to pick winners and losers in the market place. This report is only a surface treatment of the problem and doesn't even delve into how these loans are used to reward and enrich political donors and provide seed money for future political donations. The taxpayers need to rise up and demand an end to all government venture capital programs. With a government $15T+ in debt why are we guaranteeing loans to anyone? Let the marketplace do its job.