Fisker $192 million taxpayer investment goes to China

Fisker $192 million taxpayer investment goes to China

Fisker Karma wikimediaThis is the perfect government program. Fisker Automotive got $192 million of our tax dollars for its greenie electric flivver. Then it want bankrupt. Now the Chinese bought it for $25 million.

So here’s how government works nowadays.

1. The U.S. government borrows $192 million from China, part of trillions borrowed from China, which ads to the federal deficit and debt we taxpayers will be forced to pay back.

2. The money goes to a favored “green” company.

3. The company goes bankrupt.

4. The company’s assets are sold to China.

5. China gets the company and its technology.

6. U.S. taxpayers still owe China $139 million from the original loan.

(Apparently some of the loan was paid off earlier by U.S. taxpayers to China.)

2 comments

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  1. LetitCollapse
    LetitCollapse 23 November, 2013, 11:32

    I wonder if China will purchase Obama’s brainchild, Solyndra, for pennies on the dollar too?

    Last I heard the bankrupcy judge ruled that Solyndra was allowed tax benefits of nearly $1B of net operating losses and the US Dept of Energy that gave Solyndra a $535M with Obama’s blessings – gets nothing.

    Just consider it a gift from the Big “O”.

    Oh, and no one from Solydra went to jail either. How many times have to told you? 2 sets of laws. One for you. One for them.

    Reply this comment
  2. Dyspeptic
    Dyspeptic 23 November, 2013, 13:24

    File this one under – You could see it coming like a freight train.

    Yes John, you have pretty well summed it up. If memory serves me correctly, I predicted this sort of thing on this very website several years ago. Not that it takes any special insight to do that.

    When a country that is run by a Communist party understands business better than a country that is supposed to be Capitalist you know the end of this story will be ugly, very ugly.

    Maybe we should all start learning Mandarin.

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ChinaJohn SeilerFisker Automotive

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