Wednesday, September 18, 2013

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

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