DISCLAIMER: THE FOLLOWING "Cost of Freedom Recap" CONTAINS STRONG OPINIONS WHICH ARE NOT A REFLECTION OF THE OPINIONS OF FOX NEWS AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE WHEN MAKING PERSONAL INVESTMENT DECISIONS. IT IS FOX NEWS' POLICY THAT CONTRIBUTORS DISCLOSE POSITIONS THEY HOLD IN STOCKS THEY DISCUSS, THOUGH POSITIONS MAY CHANGE. READERS OF "Cost of Freedom Recap" MUST TAKE RESPONSIBILITY FOR THEIR OWN INVESTMENT DECISIONS.
SOLYNDRA FAILURE IS NOT SLOWING THE RUSH FOR 'GREEN' LOANS
Charles Payne: A couple of weeks ago, Evergreen Solar cost Massachusetts taxpayers $58 billion. This Solyndra is $535 million. Last week, Solar City $275 million. They've got 15 more of these projects they're trying to ram through before the September 30th deadline. This is scary stuff. Not only are they wasting taxpayer money, but it smells like political payoff. This stinks so bad, I can't believe that they're still rushing to push more of these through.
Charlie Gasparino: It's kind of interesting that people are actually surprised that this Solyndra thing came up. I can't believe it took this long for something this absurd to pop in because-I covered state and local finances for many years-and when they talk about infrastructure, half the infrastructure is tunnels to nowhere. Make work projects that don't actually work. This Solyndra thing is just a function of that. Can you imagine if they actually passed that infrastructure bank? There will be a Solyndra every day.
Ben Stein: It shocks me that the government takes money from hard working taxpayers and spends it on energy projects, which are clearly going to be losers. It
was clear, by 2008 that the Chinese were dominant players in solar energy and that U.S. players could not compete in a big way. Nevertheless, President Obama was so arrogant that he thought he could take $500 million and just dump it and it would work. We already have a working energy strategy. It's called oil, gas, coal. It works fine. Let's let the private sector do this. Government is just involved in too darn many things. Get out of the private sector, Mr. Obama. Let the private sector figure it out.
Adam Lashinsky: I'm shocked at how naïve this debate is. It's an important debate. Half a trillion dollars is nothing to trifle with. And none of us knows if there were illegalities, if there was fraud. There very well may have been. Stupidity happens. Webvan was a stupid investment by very smart, private investors-a massive infrastructure project. It didn't work. People do stupid things.
Dagen McDowell: At least four companies have gotten money from the government since Solyndra filed for bankruptcy and you have more than a dozen lined up just by the end of this month to get more cash. But the problem is, something that was uncovered just in this past week, is that when you get this kind of money from the government it isn't spent well. You've got half a billion dollars going to Solyndra and it looks like it could have pushed the company over the edge. They get the money and then build this factory that they don't need. It increases supply and then private investors won't come to the rescue.
PRICE HIKE AHEAD OF BULB BAN: WILL IT LEAD TO MORE COSTLY REGULATIONS?
Charles Payne: We're talking about the government picking winners and one of the ways they pick winners is to force the losers. We talk about the fact that you have to make regular energy-electricity and other things-more expensive while you try to make these look better. Here's something people don't realize. A one second Google search uses more energy than an eleven watt light bulb left on for an hour. This is the hypocrisy behind it all. Green Peace said Google's transparency is an F because no one knows how much they use, even though it might be the size of a small country. The point is, it's so inconsequential in the grand scheme of things.
Charlie Gasparino: It does distill how much big government costs.
Ben Stein: I may not be the world's best stock picker, but I know an incandescent light bulb when I see it and I'm going to go to the market and buy lots more of them. The idea that government has nothing better to do than to regulate the darn Easy Bake Oven just blows my brains out. I just can't even believe it. It's absolutely incredible.
Adam Lashinsky: I've teased you [Neil] and Charles before for your lack of Reagan optimism and where is your faith in the free market here? I see an opportunity for cute little flashlights that parents are going to buy their daughters and sons so that they can look inside this oven.
Dagen McDowell: It does speak to government regulation when ban something, when you change something like that. There are all of these knock-on effects that you never even think about and you know what's going to happen if people-Ben's going to have his own black market of incandescent light bulbs once these things are phased out. Remember we did a little reenactment of the man with the open raincoat selling light bulbs on the street corner?
CHINA IS LOOKING TO SPEND PART OF ITS 3.5 TRILLION CASH RESERVE
Charles Payne: This is the crazy news. Next week the BRICS-Brazil, India, Russia, China and South Africa are going to get together and try to figure out how to bail out Europe. I'm calling it reverse colonialization. This is absolutely crazy. This is what happens. And I wonder, in 20 years from now, who is going to bail us out?
Charlie Gasparino: I think they want to give it to us. They want us to be beholden. I just think they're looking at a good investment here.
Ben Stein: At this point, they are being benevolent, kindly, helpful with their trillions, which they got off the incredible sweat and underpaid labor of their labor force. But, at some point, they're communists. They are communists. They are not super nice guys. They are communists. They execute more people each year than the rest of the world put together. They're not nice guys and at some point they are going to want control and we are going to be very sorry when that day comes.
Adam Lashinsky: This isn't political. This is a country with a lot of money spending it. It's political in the same way we did the Marshal Fund and we spent money all over the world promoting democracy. It's a sovereign nation with a lot of money helping out where it's needed.
Dagen McDowell: I want them to spend their money elsewhere. 1.2 in treasuries China owns. It's about 12 percent of our public debt. I want them to not give it to us because we are drunk on it. It's been easy money that we've been borrowing from China. Take it elsewhere, as long as you don't start dumping our treasuries because we can't handle higher interest rates. The more they give to us, the more we are beholden to them.
Charles Payne: Tiffany & Co. (TIF)
Adam Lashinsky: Juniper Networks (JNPR)
Ben Stein: Cohen and Steers Realty Fund (RQI)