Sunday, June 12, 2011

New From the Republicans

A proposal has been put forward in the legislature to increase venture capital in the State of Wisconsin. Hmmm, how are they going to encourage that? They are going to do it by giving $200 million dollars to venture capital firms, mostly out of state companies, and having them invest. I agree with Glenn Grothman (R) who called it a scam. The investment banks (who did you think) will do ok, a few of the businesses that they picked will do ok, and the taxpayers might end up holding the bag. What happened to the "government shouldn't be in the business of picking winners and losers"? Oh, that's right a private company is going to actually pick the winners and losers. The government is only going to pick the winning investment bank. This is going to be pure cronyism, currently there is money available for loans but many businesses have been unable to get loans. It all depends on who you know, as it always does.

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