Obama Warned Green Jobs Possible "Colossal Failure"

The one time that our Treasury chief was right about something and President Obama chooses not to listen.

From the LA Times, hardly a beacon for conservative thinking:

"Treasury chief Timothy F. Geithner and others were worried that the selection process for federal loan guarantees fell short and raised the risk that funds could be going to the wrong firms.

Long before the politically connected California solar firm Solyndra went bankrupt, President Obama was warned by his top economic advisors about the financial and political risks of the Energy Department loan guarantee program that boosted the company's rapid ascent.

At a White House meeting in late October, Lawrence H. Summers, then director of the National Economic Council, and Timothy F. Geithner, the Treasury secretary, expressed concerns that the selection process for federal loan guarantees wasn't rigorous enough and raised the risk that funds could be going to the wrong companies, including ones that didn't need the help."

If I were a greedy capitalist, I'd make the argument that companies with solid business plans in a growing market don't need taxpayer support.  And unless there is some greater need such as national security and defense, companies that can only survive through infusions of massive amounts of taxpayer funds probably don't have a purpose for their existence.   

But hey, that's just me.  

It's ALMOST as if Obama had some ulterior motive for wanting to give Solyndra federal government support...