Here’s a flashback to Joe Biden chatting regarding the taxpayer “investment” inside Fisker, the “green” car firm that has been going to build a factory inside Delaware plus then headed to Finland following getting the U.S. loan:
Biden: This is source income which can return back to the American customer inside billions plus billions plus billions of $ inside wise brand-new jobs.
Fast forward to last Friday:
Fisker Automotive Inc. filed for Chapter 11 bankruptcy about Friday as well as the Energy Department sold its green-energy loan for $25 million to trader group Hybrid Tech LLC.
Taxpayers might lose $139 million found on the $192 million loan to the failed electrical car business, the Energy Department confirmed allow Friday.
“Billions plus billions plus billions” of $ inside return about taxpayer investment is federal green loan pusher-speak for “hundreds of millions of $ down the crapper.” Additionally, the actual expense to taxpayers may end up being much high than $139 million.
Shocking coincidence, mentioned with extreme sarcasm:
If this really is anything like other federally-backed “green” bankruptcies, private investors usually be repaid before taxpayers aren’t. Especially whenever those “investors” are Dem friendlies, because evidenced by this October 2011 article:
**Written by Doug PowersTwitter @ThePowersThatBe
One of Fisker’s largest financial supporters, records show, is the California venture capital fast Kleiner Perkins Caufield & Byers. The fast financially supports many green-tech companies, records show.
Kleiner Perkins partner John Doerr, a California billionaire whom prepared a fortune investing inside Google, hosted President Obama at a February dinner for high-tech professionals at his secluded property south of San Francisco. Doerr plus Kleiner Perkins professionals have provided over $1 million to federal political causes plus advertisments over the last 2 years, basically supporting Democrats. Doerr serves about Obama’s Council about Jobs plus Competitiveness. Doerr has not replied to interview requests because March.