Nov 17 2011
There is a theory about how a level of tolerance can creep into a neighborhood (or even a society) because people turn their backs on their little slice of paradise in America and then create a crime ridden, economically bankrupt mess. It is call The Broken Windows Theory:
The theory states that monitoring and maintaining urban environments in a well-ordered condition may stop further vandalism as well as an escalation into more serious crime.
It’s not rocket science. If you maintain your neighborhood (or society) crime will be less and value will go up. If you look the other way, crime will become the norm, people will give up on order and embrace chaos, and value goes down.
While we have all cringed in horror over the Penn State-Sandusky nightmare, one reaction has been consistent – why wasn’t this stopped when uncovered?
Simply because people looked the other way. It is simply another example of The Broken Window Theory. Instead of cleaning up their organization, Penn State let an animal run lose and terrorize little boys. They looked the other way. Now look at their little slice of paradise – it’s destroyed.
So, as a society, what are we doing about our Broken Windows? Let’s see:
In 2010, BrightSource was in deep trouble. It was $1.8 billion in debt and was losing money hand over fist–a $71.6 million loss on a mere $13.5 million in revenue. A company destined to go down the drain, one would think. But no! The Obama administration bailed out BrightSource to the tune of a cool $1.4 billion in loan guarantees.
How could that possibly have happened? Well, start with the fact that the principal investor in BrightSource is VantagePoint Partners. Robert F. Kennedy, Jr. is a Venture Partner in VantagePoint. But BrightSource had an even more valuable contact than that:
Sanjay Wagle…was one of the principals in Kennedy’s firm who raised money for Barack Obama’s 2008 presidential campaign. When Obama won the White House, Wagle was installed at the Department of Energy (DOE), advising on energy grants.
So Obama appointed a fundraiser with interests in BrightSource to oversee a $1.4 billion dollar loan guarantee to his investment group – dwarfing the Solyndra mess which has the same illegal and unethical stench to it. Note how the loan is much larger than the losses to date, meaning they will lose 100′s of millions more before this disaster finally crashes down.
This is how the company describes itself as an investment risk (H/T Powerline):
We expect that our net losses and our negative operating cash flows will continue for the foreseeable future, as we increase our development activities and construct solar thermal energy projects. …
Our proprietary technology has a limited history and may perform below expectations when implemented on utility-scale projects.
We use proprietary technology that has not been previously implemented on utility-scale projects of the size and complexity of the Ivanpah Solar Electric Generating System, or Ivanpah, and Ivanpah may experience technological problems that neither we nor any of the third-party independent engineers that have reviewed our projects are able to foresee.
In other words, don’t waste a dime on these folks. They have no idea if their ideas will work and so far they have only succeeded in (a) losing 100′s of millions of dollars and (b) robbing the US treasury for capitol.
This is a seriously broken window. It is the political elite raiding the taxes of hard working middle America to line their pockets, jet around the world, buy expensive toys and be completely irresponsible for their results. It is sick.
Average people in this country are struggling to pay for school, healthcare, repairs to the car, a cheap vacation, etc. And these white collar thieves are appointed by the community organizer/head thief to waste the money taxpayers earned but were not allowed to use for themselves. It is pathetic.
If there is no outrage, if we do not fix these broken windows, this generation will be known as the ones who destroyed a great nation with their greed and laziness. It is time to clean out the cesspool in DC. It is time to fix the windows, put the abusers behind bars (so they know there is a severe price to pay for this criminal behavior) and shrink government back down to its bare minimum.
I would rather see a family spend their money on a few expensive and unneeded items than see the corrupt scion of a once great American family waste that same money on dodgy green snake oil. This is what the 2012 election should be about. Dismantling Dept of Energy, Freddie Mac, Fannie Mae and Obamacare and all these other lame ideas that throw away hard earned money that they did not earn. All the stupid ideas proposed by big-government poseurs -who really just want to raid taxpayers because their too lazy or incompetent to create a real solution, a real business, a real service – need to be shut down.
We need bold change in DC, not tinkering on the margins, or the opposing power’s people grabbing at the same treasury for their purposes. We need change.