American Federal Loans Create Jobs . . . in Finland

Just when we thought nothing could beat Solyndra in terms of dirty corruption scheme presented as an “investment in green energy of the future,” we have something even worse: $529 million Federal loan guarantee to a start-up electric car company named Fisker. Which is okay, except that . . . Fisker took the money to Finland to produce their cars there. The owner of the company, Henry Fisker, has no experience in the auto-making industry, and his company has no previous history of any successful project. That is, he created the company for the sole purpose to take the government guarantee and get loans from the banks.

There’s no politics involved, of course. Except that the major financial backer of the Fisker Company has contributed more than $1 million to political causes, mainly to the Democrats. But that’s just a coincidence.

Well, at least we have a “green” car that is affordable and accessible. Uh huh. For the half billion dollars Fisker has produced 40 cars so far, and sold 2 (two). That since the company was started in 2008. It probably has something to do with the price of the “green” car: almost $100,000. Americans, apparently, don’t appreciate the benefit of driving a “green” car enough to be willing to pay so much money for it. At that price, one has to drive the Fisker car for about half million miles before the cost evens out with a normal cost car – and that if we assume that Fisker gives 20 miles a gallon better mileage. In reality, the benefit will never be there.

In other words, another half billion dollars of tax payers money went down the drain to support a utopian ideology and jump in the pockets of those that are close to the regime in Washington DC. Like Joe Biden said, “we are making a bet on the American people.” He sure is.