3 Differences Between Bain and Solyndra
As Obama and his myrmidons continue to make asses of themselves by arguing that no one should ever put their own capital at risk, it seems timely to point out that Solyndra, and the White House’s many gambles on hypothetical energy companies, is not a fair comparison to Mitt Romney’s work at Bain & Co.
It’s legal for individuals and companies to use their own money to buy failing companies and try to save them. It’s illegal for the President to gamble your tax dollars on his friends’ business ventures.
Bain & Co. bought troubled companies and tried to save them; the Obama Administration bought healthy companies and destroyed them.
At Bain, Romney and his partners were better their own money; at the White House, Obama and his friends squandered yours.
Thank God for people who use their riches to help others start thriving companies. I would expect Obama’s entrepreneurial champions, like Larry Page and Eric Schmidt, to lead Romney’s defense. Unfortunately, the folks at Google tend to be hypocritical when it comes to money–now that they’re at the top of the economic summit, they’re happy to help Obama obliterate the trail.