The PJ Tatler

Obama Speaks at Turbine Blade Plant Financed by Eeeevil Private Equity

Matt Lewis delivers a pretty good laugher today regarding the president’s campaign stop at TPI Composites in Newton, IA. TPI produces those sleek giant turbine blades for wind-power producing wind mills.

Expect to see him promote clean energy tax credits — and laud himself for pushing public funds to help get these companies get off the ground.

(After all, there’s no way they could possibly survive without the government helping them out, right?)

Except they can. And they did.

It turns out that the bulk of financing ($68 million) for TPI (like most non-Obama affiliated companies in America) has come from private equity. (Source, Source, Source.)

In comparison, the nine million in stimulus funds they received is just a small chunk of the pie.

It’s good to see the president discover some capitalism, even if it’s by the accident of his campaign’s poor venue vetting.