Maybe he won the Nobel for “missing the point”:
Haven’t written about this. But it is indeed a terrible scandal, because the private sector never ever puts money into ventures that end up failing
And then he has a picture of the failed dotcom venture, Pets.com, one of the bigger dotcom disasters of the Clinton-era tech-bubble economy.
The point isn’t that the private sector doesn’t ever invest in failed ventures, it’s that the government shouldn’t be playing venture capitalist with taxpayer funds.
On top of that, the Obama DOE missed every red flag about Solyndra and still put our money into it.