In response to:
The loan guarantee program has been an enormious failure due to the lack of correct investment due to lack of correct patent reform causing lack of correct projects to work on. This coupled with lack of recognition of the correct top invention concievers to invest with means the depression continues. I restarted the great depression in 1954 and restarted the economy in all five recessions and now were going into the third depression because the idiots in washington wont listen
Some bureaucrats never learn. David G. Frantz, the Acting Executive Director of the Department of Energy Loan Program, recently called the guaranteed loan program responsible for the Solydra fiasco an “enormous success” during a House Energy and Commerce subcommittee hearing on Thursday. During the hearing, Congressman Cliff Stearns asked David Frantz, “Don’t you agree that the Loan Guarantee Program has had a rough record?” Frantz quickly responded, “Quite to the contrary, sir, I think it’s been an enormous success.” Mr. Frantz’s answer prompted a press release from the Committee that reads in part:
Abound...
That said, these programs should be ABOLISHED outright. Venture capital is NOT the purview of the federal government (but to know that, you'd have to actually READ the US Constitution, and then adhere to it).
They are wasting OUR money on specious projects of all stripes--just so long as democrats are in charge of them, they're "worthy". (We have proof of this, across the board from Solyndra to John Corzine's mess. Much of that money then gets channeled back into democrat campaign coffers, essentially "laundering" federal tax money for use in democrat campaigns. Cha-Ching!!)
The problem is WAY above the procedural level--it's bad POLICY.