Monday, November 25, 2013

Romney was Right Again: Team Obama lose $139 Million of Taxpayer monies on Fisker Automotive Loan

Happy Thanksgiving from the Obama administration. 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. 
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.
“Once again, American taxpayers are losing out to foreign investors due to the Obama administration’s failed green energy policies. Time after time this administration has fumbled the ball with their attempts to pick winners and losers when it comes to American energy,” House Energy and Commerce Committee vice chairman Marsha Blackburn, a Tennessee Republican, said in a statement to The Daily Caller News Foundation. 
“As a result of President Obama’s misguided policies, the Department of Energy Loan Guarantee program is quickly becoming a highly utilized stimulus program for foreign investors,” she added.
It was reported last month that Li and the Obama administration were ironing out the details of the Fisker loan sale after the Energy Department had completed its auction. Li’s purchase of the government’s loan represents the second acquisition of an Obama-backed green energy company by Chinese investors. Earlier this year, the Chinese auto parts conglomerate Wanxiang Group bought the electric car battery maker A123 Systems, renaming the company B456. 
Including the $25 million loan sale, the DOE has recovered only $53 million of the original $192 million disbursed — netting taxpayers a $139 million loss.
Read the rest of the story HERE and listen to Romney talk about Fisker below:






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14 comments:

Anonymous said...

Romney was right, course. No matter how much disparagement I see of his intelligence, Romney is a highly intelligent man who lives in the real world, not the dream world of the Obama administration. I can't believe when I read conservative commenters who talk about how stupid Romney is. I don't know what makes me more angry.... You can say lots about Romney but to denounce his intelligence only makes you the fool. Only ask the Mad Money guy, Jim Cramer, who was not a Romney supporter. Cramer interviewed with Romney for a job at Bane, and Romney's interview scarred him to death.

AZ

Anonymous said...

Scared not scarred. Lol

Right Wingnut said...

Guys, the pronouncements that these "green energy" deals were political payoffs weren't exactly Romney revelations. My pointing that out isn't a knock against his intelligence, but I can't stand by and watch his supporters act as though he was the only one in the know on these things.

Anonymous said...

RW, for the record my comments were not directed at you. I don't like your constant Romney criticism, of course, but I haven't noticed you disparaging his intelligence. There are other commenters on other sites that have really set me off. Every time they mention Romney they talk about how stupid he is. I think there are a lot of things you can say about Romney, but stupidity is not one I will accept. Naivete is another fault of Romney and R's in general. When your opponent uses the IRS against you and nothing happens, things are bad.

BOSMAN said...

AGAIN, Obama and his teams Green Energy picks cost tax payers hundreds of millions.

I won't say I told you so (even though I did) ...Mitt Romney says it SO MUCH BETTER...

Joel2013 said...

Knocking Romney for telling us something we supposedly already knew reminds me of those who actually think that Cruz is telling us something we don't already know.

Right Wingnut said...

AZ, I guess I haven't see these claims of Romney being "stupid." I doubt very many people believe that.

Romney was right! ObamaCare is a disaster.

Romney was right! Obama's economic policies don't work.

Romney was right! Obama' foreign policy is a disaster.

It's as if Romney was the only one who said these things. Everyone opposed to Obama's policies has been saying these things for years.

Here's one for you....Romney was right! He didn't want to run for president. He should have trusted his gut.

Anonymous said...

RW, I hate it when I'm nice to you and you are rude back.

AZ

Right Wingnut said...

AZ, I didn't think that was rude. It certainly wasn't my intention. I was just sharing my opinion.

RomneyMan said...

Nephi.
Moroni

CRUZ COUNTRY said...

I just wish Romney was right about whom he selected to be his chief campaign strategist. When you don't get that one right, nothing else matters.

Anonymous said...

RW... the belief that Romney did want to run or win the Presidential election is hogwash.

While it may be true that he was talked into running, it is not true he did not want to win.

IMO, he was very hurt by the loss. He was thinking he was going to win. He had not even written a concession speech.

I am glad he ran. He was the ONLY candidate we had that had any chance of defeat Obama.

Not matter what you may think, Obama was never going to be easy to defeat.

Romney did very well. He came very close to defeating Obama.

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