Krauthammer: Solyndra Most Expensive Photo Op In American History
Charles Krauthammer on President Obama's involvement with the company Solyndra and more broadly, his push for green jobs.
Krauthammer: "I do think it is a problem on two levels. There is the problem of the fast tracking and the pressure from the White House to get this done with minimal or faulty analysis so that you can have a photo op with Biden. It may be the most expensive photo American history, it cost half-a-billion dollars. It could show wrong doing, it's not obvious yet, right now who and when?
"But the larger issue is why is the government involved in this in the first place? Waxman is talking about how the CEO misled him. Why is a CEO reporting to member of Congress? He should be reporting to the board of directors, to the shareholders, to the workers, and not to members of Congress.
"There is a corruption in the process. I mean -- this is industrial policy. Government, which is not equipped to picking winners or losers. It's lemon socialism. Look, this is not new stuff. We've had a century of this. And we know the government runs economies, as in the Soviet economy, an extreme example, it creates shambles. And the reason is simple: The market has more information, personal information and it works. Here what you have is imposition of political decisions, which not only makes mistakes because it has less knowledge of the market, but it can be easily corrupted as might have happened here."