Scott Alexander tells it like it SHOULD BE!
"It's shameful that our government would rather spend $25 billion bailing out an automobile industry that was burning $1 billion per month during the peak of the housing / borrowing / spending boom, than to set up a $25 billion venture fund so start-up companies that can't be self-funded have a chance at making it.
Tesla (the electric car company run by former PayPal co-founder Elon Musk) hit the nail on the head when they petitioned the government for $400 million from the American Auto Industry bail-out proposal.
Hmm. Give $400 million to a company that will use the money to bring American made commercially viable electric vehicles to world market years ahead of any other nation, or give $25 billion to failing poorly managed companies that will use the funds to pay off the unions to allow them to lay people off. Seems like a no-brainer.
I hope Obama has the right mix of Liberal and Conservative that this nation needs. It must be tough times for libertarians :) !"
Scott Alexander, CEO - XanderDev