Fisker $192 million taxpayer investment goes to China
by John Seiler | November 23, 2013 8:37 am
[1]This 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[2].
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[3].
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.)
- [Image]: http://calwatchdog.com/wp-content/uploads/2013/11/Fisker-Karma-wikimedia.jpg
- Now the Chinese bought it for $25 million: http://dailycaller.com/2013/11/22/taxpayers-lose-139-million-on-fisker-automotive-loan/#ixzz2lPXP2JvD
- goes bankrupt: http://www.latimes.com/business/autos/la-fi-hy-fisker-sale-bankruptcy-20131122,0,4870491.story
Source URL: https://calwatchdog.com/2013/11/23/fisker-192-million-taxpayer-investment-goes-to-china/