Playing Venture Capitalist News Today

Officials in the department of energy on the merits. >> should government be playing venture capitalist to try to prop these industries up? >> well, we believe this loan program is very important. by the way, it was a program that was supported by president bush. so theres been support in both parties. many of the members of congress who offered criticism themselves were lobbying for funds for companies like this. so, i think the order -- listen you see whats happening in other countries. you kn...

Here? >> well, lets step back for a minute. we have to win this race. you know. we -- if we dont win the clean energy race, in terms of technology, innovation and jobs, and see it to other countries were not going to have the sense. it would be like us ceding the automotive race or the internet or computer race. >> in dire economic straits government should be playing venture capitalist? >> these are going to be in terms of solar, alternative values. now we take very seriously the fact that one ...

Program were made by career officials in the department of energy on the merits. >> should government be playing venture capitalist to try to prop these industries up? >> well, we believe this loan program is very important. by the way, it was a program that was supported by president bush. so theres been support in both parties. many of the members of congress who offered criticism themselves were lobbying for funds for companies like this. so, i think the order -- listen you see whats happenin...

Important. but we also have to keep our eye on the ball. which is if were going to have the kind of jobs where people can make, $20, $22, $25 an hour on high-tech manufacturing in this country, weve got to make progress in the clean energy sector. >> were campaign contributors involved here in terms of their projects that ultimately forced the governments hand? >> absolutely not. these decisions about the loan program were made by career officials in the department of energy on the merits. >> sh...

Department-sponsored loans from the government to help develop them. congress has said they want documents. perhaps theyll subpoena documents. the administration is now investigating. did taxpayers get ripped off here? >> well, lets step back for a minute. we have to win this race, you know. we -- if we dont win the clean energy race, in terms of technology, innovation and jobs, and see it to other countries were not going to have the sense. it would be like us ceding the automotive race or the ...

Decisions -- maybe not on loans, but other things. >> this programs done. >> thankfully. which is another issue, before it was finished, they just last week, they just quickly rammed through a bunch of other loans because it was the end of the program. >> thats right. you have heard the president defend this. saying this was started by my predecessor and the republican congress i. the program. not the batbad loan. theres a big difference. under my watch, we pushed through the bad loan. >> look, ...

Decisions -- maybe not on loans, but other things. >> this programs done. >> thankfully. which is another issue, before it was finished, they just last week, they just quickly rammed through a bunch of other loans because it was the end of the program. >> thats right. you have heard the president defend this. saying this was started by my predecessor and the republican congress i. the program. not the batbad loan. theres a big difference. under my watch, we pushed through the bad loan. >> look, ...

If they didnt make it happen by then. in other words, the government was playing venture capitalist with your money. they were taking chances with your money. very quickly. two other $500 million loans went from the government. one to fisker motors and one to tesla motors. one partially backed by al gore. the question is okay, they did it poorly in the past. whey would you give them $10 million more or $447 billion more to play with? >> andrea: or why is the government getting involved in the pr...