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At Least Fisker's Cars Didn't Spontaneously Catch Fire...Oh, Wait

Jeff2422 Wrote: Apr 25, 2013 7:39 AM
The weird thing about the loan guarantees authority for administrative agencies was that it started in the middle of the Watergate investigation and Nixon's eventual resignation. So while Congress was impeaching Nixon for misusing public funds for political ends and forming private slush funds they gave the Executive the authority to essentially do the same thing through these loan programs. I guess it is true, it all depends on who's ox is being gored in DC.

If you’ve come in late to the movie the Life and Death of Fisker Automotive, you might get the impression that the only thing that stood between success and failure for the electric car company was their inability to meet a few milestones that the government imposed.

In reality, the biggest problem Fisker faced in their quest for success wasn’t the milestones the government gave them, but rather the money the government gave them.

“The electric carmaker,” reports CNN, “which laid off 75% of its employees earlier this month, missed its first loan payment to the...