Friday, November 16, 2012

Crony watch: Good money after green

Every time the government subsidizes a lame business, it hurts a strong one:

The Energy Department has supported A123 Systems, Inc., which produced batteries for electric vehicles, through thick and thin.

The company received a $946,830 payment, part of a larger grant, on the day it filed for Chapter 11 bankruptcy protection in mid-October.

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