Was Solyndra’s Fall China’s Fault?
Politics: Trade is a favorite scapegoat whenever jobs are lost. That’s why Congress is holding free trade hostage to a porky program that would give more aid to displaced workers. Solyndra’s failure shows why it’s a bad idea.
IBD’s Sean Higgins reported last week that Solyndra, a Fremont, Calif.-based solar panel firm that went bust shortly after taking $527 million in federal loan guarantees, has applied for Trade Adjustment Assistance for 1,100 laid-off workers.
That $1.5 billion federal program is ostensibly for “retraining” for workers who have lost their jobs due to “foreign trade.”
In Solyndra’s case, that’s baloney.