Your Tax Dollars At Waste

The headline from the September 17, 2013 Detroit News, unfortunately, tells you quite enough:

U.S. to exit Fisker at hefty taxpayer loss

There is no good news in the article itself:

The Energy Department said Tuesday it will auction off its outstanding $168 million loan to the now-closed electric vehicle manufacturer Fisker Automotive Inc., a move that will likely mean significant losses to taxpayers. It would be the second automaker to fail after receiving loans that were later sold by the government at a loss.

Peter W. Davidson, executive director of the Energy Department’s loan program office, said in a blog posting Tuesday that the department will exit Fisker, whose Karma luxury sedan was driven by celebrities such as Al Gore, Justin Bieber and Leonardo DiCaprio.

From The Detroit News: http://www.detroitnews.com/article/20130917/AUTO01/309170122#ixzz2fHWA2aQo

Gore, Bieber, and DiCaprio -- all very good reasons for the government to lose money.