The Obama Administration gave $529 million in loans to a car company in Finland that made $100,000 lemons.
Now the company is in financial trouble and the cars are burning down garages.
Oh… And the green company is linked to Al Gore.

Fisker Karma – Another Green Lemon

In 2009 the Obama Administration gave a $529 million U.S. government loan to help build a hybrid sports car in Finland. The company was promoted by Al Gore.
The Wall Street Journal reported on this curious investment:

A tiny car company backed by former Vice President Al Gore has just gotten a $529 million U.S. government loan to help build a hybrid sports car in Finland that will sell for about $89,000.

The award this week to California startup Fisker Automotive Inc. follows a $465 million government loan to Tesla Motors Inc., purveyors of a $109,000 British-built electric Roadster. Tesla is a California startup focusing on all-electric vehicles, with a number of celebrity endorsements that is backed by investors that have contributed to Democratic campaigns.

The awards to Fisker and Tesla have prompted concern from companies that have had their bids for loans rejected, and criticism from groups that question why vehicles aimed at the wealthiest customers are getting loans subsidized by taxpayers.

“This is not for average Americans,” said Leslie Paige, a spokeswoman for Citizens Against Government Waste, an anti-tax group in Washington. “This is for people to put something in their driveway that is a conversation piece. It’s status symbol thing.”

DOE officials spent months working with Fisker on its application, touring its Irvine, Calif., and Pontiac, Mich., facilities and test-driving prototypes.

Matt Rogers, who oversees the department’s loan programs as a senior adviser to Energy Secretary Steven Chu, said Fisker was awarded the loan after a “detailed technical review” that concluded the company could eventually deliver a highly fuel-efficient hybrid car to a mass audience.

Now the company is in financial trouble and the cars are burning down garages.
The Daily Caller reported:

Fisker Automotive isn’t the next Solyndra — it’s worse.

Nearly $200 million into a $529 million loan from the Department of Energy, Fisker’s yet to build a car in the United States. The current model they offer, the Karma, retails for a reasonable $103,000. And here’s the fun part. The Karma, produced in Finland, first suffered a recall in December. That recall expanded recently — in no small part due to a Karma in Texas lighting on fire and burning down the garage where it was parked. It appears that not only are these not American cars, but they’re not even particularly safe for American drivers. But don’t fret.

It was only a cool $200 million down the drain.

And, of course, no one will ever be held accountable for this green scandal. And liberals are laughing all the way to the bank.
Hat Tip Mara Zebest

 

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  1. The whole frickin’ “green” thing is a money laundering scam.
    Period.

  2. ++

    Obama, Maurice Strong, Al Gore

    [In 1997, Strong went on to accept from Tongsun Park, who was found
    guilty of illegally acting as an Iraqi agent, $1 million from Saddam Hussein,
    which was invested in Cordex Petroleum Inc., a company he owned with
    his son, Fred.

    [..]

    It may be interesting to note that the Chicago Climate Exchange in spite
    of its hype, is a veritable rat’s nest of cronyism. The largest shareholder
    in the Exchange is Goldman Sachs. Chicago Mayor Richard M. Daley is its
    honorary chairman, The Joyce Foundation, which funded the Exchange
    also funded money for John Ayers’ Chicago School Initiatives. John is the
    brother of William Ayers.]

    like i always say, note the dates..

    ==

  3. If Al Bore is involved, it’s one crooked deal. He needs a carbon footprint square on his fat, white a$$!

  4. ++

    re: #2 June 6, 2012 at 8:16 pm bg

    Red Bow

    [In 1953 Strong was hired out of the UN Security section and sent
    to Kenya by the Sidley Austin law firm acting for New York-based
    Rockefeller Family trusts which now handle university endowment
    funds
    and $55 trillion in the Carbon Disclosure Project.]

    just a sample:

    [“In searching for the new enemy to unite us, we came up with the idea that pollution, the threat of global warming, water shortages, famine and the like would fit the bill. In their totality and in their interactions these phenomena do constitute a common threat which demands the solidarity of all peoples. But in designating them as the enemy, we fall into the trap about which we have already warned, namely mistaking symptoms for cause. All these dangers are caused by human intervention and it is only through changing attitudes and behaviors that they can be overcome. The real enemy, then, is humanity itself.”]

    ==

  5. More theft, under the facade of green loans.

  6. Not a bad looking car, but the burning down the garage thing is below average.

  7. I’m sure all of our overpaid university professors are ordering these so they can be the most concerned of the really really concerned green-type professors.

  8. I want to hear people start calling this what it is…Bribery, theft, and ready for prosecution.. This is so obvious

  9. has this story ever made it into the democratic party-media complex?

  10. ++

    oh but there’s so much more to this, you see..

    Green Energy Is Really All About Social Justice

    “I met all these young radical people of color – I mean really radical,
    communists and anarchists. And it was, like, ‘This is what I need to
    be a part of.’ I spent the next ten years of my life working with a lot
    of those people I met in jail, trying to be a revolutionary. I was a
    rowdy nationalist on April 28th, and then the verdicts came down on
    April 29th. By August, I was a communist.”

    ~ Van Jones

    you just don’t understand, Communists (by
    any other name) can never be wrong.. /sarc/

    ”I am certain nothing has done so much to destroy the juridical
    safeguards of individual freedom as the striving after the mirage
    of social justice.”

    “I have come to feel strongly that the greatest service I can still render
    to my fellow men would be that I could make the speakers and writers
    among them thoroughly ashamed ever again to employ the term ’social
    justice’.”

    ~ ~Friedrich A. von Hayek

    ==

  11. Don’t hold your breath waiting for the Holder Justice Department to investigate this.

  12. Why any money to other countries to fund development? The US itself needs development!
    .

  13. #10

    I came here to post: …and the so called mainstream “news” media is perfectly fine with this. Liberal mass media = green sensationalist garbage.

    Al Gore defines evil hypocrite POS.

  14. ++

    tommy mc donnell #10 June 6, 2012 at 8:56 pm

    believe it has, but what good would it do..

    besides, i’m sure they know as much about that as they
    and many others know about this, and much more.. :-(

    ==

  15. ++

    in case you haven’t figured it out yet..

    Holder is given as much “carte blanche” with
    the DOJ as he gives to the Black Panthers.. :mad:

    ==

  16. Ummmm…..you might want to fix your headline: that should read, “…$529 million Green Loan….” rather than only, “…$529 Green Loan….”

    Bit of a difference! ;)

  17. #11 June 6, 2012 at 8:57 pm
    bg commented:

    While I believe certain ideologues are on board with the allegedly “green” agenda because they imagine it is about their idea of social justice, the “green agenda” as handled by the Barack Obama administration is a kickback scheme for bundlers. None of this agenda has any relationship with the feasibility of the technology, or the likelihood of success of the venture.

  18. OK. Now I know where Alore got the money for his california $8 million + beach home estate! I guess he’s not too worried about rising sea levels. Curious how the left isn’t on Algore for hipocracy, after all benefiting from gov’t deals was what the left accused Cheney of doing wih Haliburton even though Cheney no longer had Haliburton stock or interests…but facts don’t matter to the left so long as Republicans can always be portrayed as evil, racist, homophobic devils.

  19. Today’s Wall Street Journal reports on BrightSource, a solar energy firm that received the biggest taxpayer handout of all after it was in financial trouble.

    The company hired a Biden chief of staff to lobby Obama. The lobbyist told Obama that if the company went under, Obama would look bad because he was on public record praising the company.

    Two billion taxpayer dollars handed over to save the image of a subprime dope.



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