How venture socialism differs from venture capitalism…

Exhibit #1: Unlike socialists, capitalists know when to stop.

Electric car battery maker A123 Systems received a $946,830 check from the U.S. Energy Department on the day it filed for Chapter 11 bankruptcy last month — providing more ammunition for critics who say the Obama administration is blindly funding failed clean energy companies.

The Waltham, Mass.-based company also told two U.S. senators in a letter this week that it may seek more money from the $249.1-million Energy Department stimulus award it won in 2009. A123’s Oct. 16 check was the latest payment as part of the original grant, which is distributed incrementally as the company meets certain benchmarks. A123 has received $133.3 million of the grant so far based on its investments in new battery plants in Livonia and Romulus, Mich.

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2 Responses to How venture socialism differs from venture capitalism…

  1. notamobster says:

    C’mon RD, it’s only a million dollars. It’s not like we’re talking about real money that actually belonged to someone. /sarc

  2. DocO says:

    This comic is incomplete and misleading.

    Looking at it you wouldn’t know that the big bag of “Obama Cash” he is carrying was filled up at gun point from unwilling givers.

    It doesn’t show Obama going to a Chinese loan-shark and taking out enormous loans to fill the bag up, and making signing the loan in the names of ourselves, our children and grand children.

    It doesn’t show a host of federal bureaucrats taking out handfuls of cash as the the loose cash is bundled up and put it into Obama’s big bag of goodies.

    It doesn’t show Obama meeting with the wealthy business owners and taking a kick back, oh I’m sorry campaign donation, before he goes out and “seeds” not fertile soil, but granite saddles and ancient salt sea beds.

    In short it implies incompetence instead of corruption.

    Sorry, I’m in a grumpy mood this morning.