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Taxpayers lose $139 million on Fisker Automotive loan
 [DAILYCALLER] Happy Thanksgiving from the B.O. regime. The Energy Department has sold off its $192 million loan guarantee to Fisker Automotive to Chinese billionaire Richard Li for $25 million -- the biggest taxpayer loss on a green loan since the failure of Solyndra....a green technological winnerpicked by the Obama administration that cost the taxpayers a half billion dollars, with the added benefit of the campaign contributors who put money into the project getting paid before the taxpayers when the wreckage went up for sale... The Energy Department will announce the "selling of the promissory note" to Hybrid Tech, which is owned by Chinese billionaire Richard Li, according to sources familiar with the sale. The DOE sold the loan to Li for $25 million after lending the financially troubled green automaker a total of $192 million since 2009. I guess this is how a Chinese billionaire got to be a Chinese billionaire... Posted by: Fred 2013-11-23 |
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