It looks like the Obama administration is arranging to sell off a taxpayer-funded loan that was given to Fisker automotive, leaving the US taxpayer at a loss while the Chinese company gets to gain from your investment. This is the SECOND Chinese green tech company to which we are redistributing taxpayer dollars of course, with the first being A123….at a $42M loss.
So far we know that investors must initially offer to pay $30M for the $168M loan guarantee, so we can be confident that we’ll get nowhere near the actual $168M in return.
“Fisker is just one of the many failures resulting from this administration’s green energy spending bonanza, and now Chinese investors will once again gain from another fumbled project while the American taxpayers will lose,” said Rep. Marsha Blackburn, a Tennessee Republican and vice chairman of the House Energy and Commerce Committee, in an emailed statement to The Daily Caller News Foundation.
Open your pockets people….there’s some Chinese investors that need your child’s savings dollars!
From the Daily Caller:
Chinese investors again benefit from U.S. green energy loans