Blackburn to Obama: Stop funding green firms that benefit Chinese investors

by
February 19, 2014

marsha-blackburn
The Chinese auto conglomerate Wanxiang Group has bought electric automaker Fisker Automotive, marking the second time they snatched up a failed green firm that received taxpayer dollars.

The bankrupt Fisker was sold to Wanxiang last week for $149.2 million and the sale was approved by the bankruptcy court on Tuesday. Last year, the Energy Department’s $192 million loan of Fisker was sold of to Wanxiang for $25 million — netting taxpayers a $139 million loss.

This is the second time a green energy company that got a loan guarantee from the Obama administration was sold off to Chinese investors, garnering criticism from conservatives that hundreds of millions of taxpayer dollars have been wasted for the benefit of foreign businessmen.

  • frank1737

    It sounds like Obama is paying them off for a scam (A Fraudulent Scheme) like he has done for the illegal money he received for his illegal election . He had to pay the Unions back Now the Chinese!
    This Thing some have the audacity toi call a President HAS TO BE IMPEACHED AND TRIALED FOR HIS CRIMINAL ACTS & PROSECUTED… HE IS WORSE THAN AL CAPONE!!

    • Dan Berghamer

      I refuse to acknowledge him as, or even refer to him as President. He is an imposter. Anyone that still supports him is no better than he. The muslim Obama is bent on destroying America. Felony Treason charges should be filed and carried out with maximum punishment.

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