Diary

Romney: Public Sector Venture Capitalist

We all know how Mitt Romney likes to say one thing and do another, flip and flop and the like (see: gay marriage, abortion, holding public sector unions accountable, being conservative, being Republican, etc.) so it should come as little surprise to no one that just days after he authors an op-ed calling out President Obama on the Solyndra scandal it is learned that he too is fundraising with one of their lobbyists, oh and had a program just like the Presidents while Governor.

In his oped Romney said many of the right things, he wrote:

First, the U.S. government shouldn’t be playing venture capitalist. It’s not merely that government bureaucrats are bad at picking winners. The very process invites cronyism and outright corruption.

Having worked and created jobs in the real economy, I understand the policies we must pursue to make the United States the best place in the world to do business. It is these policies, not President Obama’s handouts to politically connected investors with politically correct business ideas, that will produce a genuine economic recovery.

But then we learn today via Politico:

But Romney is a private-sector venture capitalist by vocation, and during his tenure as Massachusetts Governor he set up a program almost exactly like the ones he’s now denouncing.

In 2003, Romney launched the Massachusetts Green Energy Fund, a $15 million project aimed at providing “an opportunity to capitalize on two emerging trends: the growing level of investment interest in clean energy and the importance of Massachusetts’ academic and corporate R&D in forming clean energy technology companies,” according to its website.

At the time, Romney called the fund a “springboard for the commonwealth by focusing on job creation in the renewable energy sector.”

And in fact a number of these companies did not succeed:

Of the six companies listed in the fund’s portfolio, three are either struggling or have shut down completely.

So would Mitt Romney act like the Mitt Romney in the Orange Country Register or the Mitt Romney who served as Governor of Massachusetts?

Hint: Mitt Romney Fundraising With A Solyndra Lobbyist