GM-Funded EV Company Gives Up on DOE Loan, Ends Operations | National Legal and Policy Center

Undeterred supporters of “clean” technology and DOE’s subsidies programs will blame the failure of the Bright Automotive loan on political pressure from Congress after Solyndra’s bankruptcy. But that occurred in September, long after Bright had been in DOE’s queue for consideration and had been apparently been getting jerked around by bureaucrats. Munger is probably especially peeved after he gave $67,100 to the Democratic Senatorial Campaign Committee and Democratic Congressional Campaign Committee, which produced nothing for his company in return (unlike others' whose political giving seemed to help along DOE grants and loans).

It proves two things (again): that government should never be in the business of choosing which companies upon which it bestows money that it takes from taxpayers, and businesses should never depend on government to provide for it funding it should instead earn from voluntary participants in the free market. Otherwise you are at the mercy of political whims and fickle or incompetent bureaucrats.