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When government starts directing capital toward pet industries, very bad things tend to happen.
Example - Carter wanted home ownership for working class. 1977 community reinvestment act required banks to lend 40%of loan to sub-prime clients. Banks could not carry that much risky debt, so IBs created securitization, to spin the required risky loans to private investors. As that sub prime borrower rarely had the 20,000 or 30,000 needed for a standard down payment, banks were forced into loans that required little down. And so was born the roots of our current disaster - President Carter wanted to direct private/business capital to advance a social agenda. Always bad news.
Obama wants to computerize medical records (what's his cut) and invest in green energy. The only people making any profit on green energy are those giving seminars on why we need green energy. Don't even get me started on car companies with disastrous work rules and contracts. Politician directing private sector capital allocation is a bad idea, every time
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