Quote of the Day: Brad Jones and Larry Summers

"The allocation of spending to clean energy is haphazard; the government is just not well-equipped to decide which companies should get the money and how much. One of our solar companies with revenues of less than $100 million (and not yet profitable) received a government loan of $580 million; while that is good for us, I can’t imagine it’s a good way for the government to use taxpayer money."

~ Brad Jones, Redpoint Ventures [an investment firm with financial connections to Solyndra], email to Larry Summers Dec. 2009

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"I relate well to your view that gov is a crappy vc [venture capitalist] and if u were closer to it you’d feel more strongly. But suppose we think there are all kinds of externalities to renewable investments. What should we do?"

~ Larry Summers, National Economic Council Director, response to Brad Jones, Dec. 26, 2009