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	<title>Fisker Automotive &#8211; CalWatchdog.com</title>
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		<title>Fisker $192 million taxpayer investment goes to China</title>
		<link>https://calwatchdog.com/2013/11/23/fisker-192-million-taxpayer-investment-goes-to-china/</link>
					<comments>https://calwatchdog.com/2013/11/23/fisker-192-million-taxpayer-investment-goes-to-china/#comments</comments>
		
		<dc:creator><![CDATA[John Seiler]]></dc:creator>
		<pubDate>Sat, 23 Nov 2013 15:37:45 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Waste, Fraud, and Abuse]]></category>
		<category><![CDATA[Fisker Automotive]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[John Seiler]]></category>
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					<description><![CDATA[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]]></description>
										<content:encoded><![CDATA[<p><a href="http://calwatchdog.com/wp-content/uploads/2013/11/Fisker-Karma-wikimedia.jpg"><img fetchpriority="high" decoding="async" class="alignright size-medium wp-image-53614" alt="Fisker Karma wikimedia" src="http://calwatchdog.com/wp-content/uploads/2013/11/Fisker-Karma-wikimedia-300x225.jpg" width="300" height="225" srcset="https://calwatchdog.com/wp-content/uploads/2013/11/Fisker-Karma-wikimedia-300x225.jpg 300w, https://calwatchdog.com/wp-content/uploads/2013/11/Fisker-Karma-wikimedia-1024x768.jpg 1024w" sizes="(max-width: 300px) 100vw, 300px" /></a>This is the perfect government program. Fisker Automotive got $192 million of our tax dollars for its greenie electric flivver. Then it want bankrupt. <a href="http://dailycaller.com/2013/11/22/taxpayers-lose-139-million-on-fisker-automotive-loan/#ixzz2lPXP2JvD" target="_blank" rel="noopener">Now the Chinese bought it for $25 million</a>.</p>
<p>So here&#8217;s how government works nowadays.</p>
<p>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.</p>
<p>2. The money goes to a favored &#8220;green&#8221; company.</p>
<p>3. The company <a href="http://www.latimes.com/business/autos/la-fi-hy-fisker-sale-bankruptcy-20131122,0,4870491.story" target="_blank" rel="noopener">goes bankrupt</a>.</p>
<p>4. The company&#8217;s assets are sold to China.</p>
<p>5. China gets the company and its technology.</p>
<p>6. U.S. taxpayers still owe China $139 million from the original loan.</p>
<p>(Apparently some of the loan was paid off earlier by U.S. taxpayers to China.)</p>
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