supposedly we have a security market that is to determine the risk level.
Generally, I am against all forms of subsidy, tax credits, incentatives, tax rebates, abatements and such. If its not ready for prime time-it should placed in the risk pool where those who can afford to lose the $$, can risk their money.
Odd that USA has found more oil and developeable oil in areas that we already knew we had oil. Didn't need drilling incentives, we only needed a rise in oil prices to make the technology and recovery practicable.
This isn't the only example of cronyism. Look at http://www.thedailybeast.com/articles/2011/09/19/lightsquared-second-witness-rejects-white-house-testimony-guidance.html
The WH tried to force Gen Shelton to change his testimony for LightSquared...a huge donor to Obama. White House’s Testimony ‘Guidance’ Sep 19, 2011 11:44 PM EDT First it was a four-star general, and now a federal agency official says the White House sought changes to his testimony on a wireless project tied to a prominent Democratic donor. Eli Lake reports.
__________________
Raising a teenager is like nailing Jello to a tree
the amount of money is small, yes, but the point here is that the federal government backed loans to a company (likely as a political favor to a large donor) that never should have gotten loans because it was not economically viable.
