Solargate: Barack Obama gave $500 million in stimulus money to an electric car company in Finland
The Obama regime is now embroiled in several scandals which all revolve around using the stimulus money in an attempt to push his green initiative agenda and it looks as if we can add yet another scandal to the list.
Barack Obama approved a stimulus loan of over $500 million to a company called Fisker so that this company could produce electric cars. However, the company could not find a plant capable of producing the cars in the United States, so it moved its operation to Finland. This $500 million loan created a mere 500 jobs, and even while that number is woefully low it is even worse when you consider the fact that none of these 500 jobs went to a single American.
Here is what Henrik Fisker said about the decision to move the factory overseas:
We’re not in the business of failing; we’re in the business of winning. So we make the right decision for the business,” Fisker said. “That’s why we went to Finland
You would like to think that before the Obama regime decided to give Fisker a loan that the government would have studied the company to ensure that this money would not be wasted. If this is the case than surely he Obama regime must have known that United States factories were incapable of producing these cars, and they must have known that Fisker had designs on moving the operation overseas. If that is the case than what possible reason could the Obama regime have for spending money on a company based overseas when the stimulus money was supposedly to be used to stimulate the American economy?
By an amazing coincidence Al Gore just happens to be a partner in a venture capital firm which was backing Fisker. Imagine that! The president of the United States had a choice to make; either give $500 million to a company Al Gore had a stake in, or save the money to protect American taxpayers, and Barack Obama chose to help out a high roller in the Democrat party over the taxpayers of the United States.
Barack Obama still claims that giving Solyndra $500 million was justified because 1,000 people would have lost their jobs immediately if the government did not give the company the loan–so in essence Obama gave half a billion dollars to a company so that 1,000 people could keep their jobs for a few months. Even if we can somehow judge that as a measure of success Barack Obama can’t even use that lame excuse in this case because all of the jobs created with this loan were in Finland. How can the Obama regime possibly justify this abuse of taxpayer money?
America's Watchtower 
Steve, it is just some of the same old stuff that he has been doing. He doesn’t think he needs to explain it because in his mind he is justified to spend OUR money any way HE wants to spend it. Mr. Fisker doesn’t sound like he is American, am I missing something here? How would Finland come into play? Al Gore? No American jobs? Think this was planned this way??? Surely not! I guess we got what we voted for, didn’t WE…I know, I know WE didn’t vote for him, but we sure as heck have to put up with him. WE know that the president cares little to nothing about us, other than he wants to keep seeing the tax money rolling in….as I said before, this is sad. We keep adding more and more scandals to his credit and all they can refer to is Watergate. There is absolutely no comparison, is there?
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RIght about now I think the president probably wishes all he had was a Watergate type scandal on his hands because these scandals are getting much, much worse than Watergate. You are right; Barack Obama is s arrogant he simply does not believe he has to answer to anyone and is offended when pople question him. Heneeds to remember that he works for us, not the other way around.
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If it makes you feel better, $167 million was for Finland the rest is for building a plant in Delaware. Still, bad.
This is like the $150 million given to a company in S. Korea to make batteries for the Volt.
I’ll have an article about this tomorrow but seems like these “green” companies are taking more money than the banks (which have mostly repaid the loans).
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That might make me feel a little better except for the fact that these cars cost about $97,000 and I don’t think there will be a huge market for them judging by the Volt sales so I see this compmany going the way of Solydra.
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Fisker has been selling cars for some time. The guy used to work for Aston Martin and other high end car companies. What he has done until now is to buy a car (Mercedes S Class for example) and make a new body and interior for it leaving the mechanical parts alone. His cars sell for BIG money.
So far he has been successful so it might work out… but the economics of “electric” cars like this is questionable at best.
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Well, we got to give the man credit, Steve. Barack sure knows how to take care of his friends; well, as long as he can do it with other peoples money.
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He sure does, doesn’t he?
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Cronyism is the most insidious form of corruption.
Consider also what just happened in a federal court in Texas. A Dallas business owner was involved in a civil dispute and paid millions of dollars to lawyers, and when he objected to additional fees after settling the case, they had a Clinton appointed “friendly” judge seize all of his possessions, without any notice or hearing, and essentially ordered him under “house arrest” as an involuntary servant to the lawyers. The business owner has been under this “servant” order for 10 months and is prohibited from owning any possessions, prohibited from working, etc..
…and some quotes from the judge:
THE COURT: “I’m telling you don’t scr-w with me. You are a fool, a fool, a fool, a fool to scr-w with a federal judge, and if you don’t understand that, I can make you understand it. I have the force of the Navy, Army, Marines and Navy behind me.”
THE COURT: “You realize that order is an order of the Court. So any failure to comply with that order is contempt, punishable by lots of dollars, punishable by possible jail, death”
http://www.lawinjustice.com has an explanation of this case.
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That certainly is some scary stuff there, it seems like the walss are closng in around our freedom.
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In case we were wondering how Obama’s jobs bill would be like.
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And he can’t understand why they won’t pass it?
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It is very interesting what a quick search on WWW can turn up:
http://www.oregonlive.com/politics/index.ssf/2011/10/federal_stimulus_money_for_ore.html
At least $7 million in federal stimulus money intended to provide jobs to unemployed Oregonians instead paid wages to 254 foreign workers, federal investigators have concluded.
http://www.politico.com/news/stories/0310/33847.html
The senators highlighted a wind farm project in west Texas, which received stimulus aid and is projected to create 3,000 jobs in China and a tenth as many in the United States.
http://economyincrisis.org/content/stimulus-dollars-purchase-foreign-made-goods
Millions of taxpayer dollars have been spent on streetlights and traffic signals that contain parts made mostly in China, Taiwan, Japan and South Korea.
http://www.muckety.com/Kleiner-Perkins-Caufield-Byers/5001073.muckety
Regarding Fisher Automotive, Kleiner Perkins Caufield & Byers, one of Fisker Automotive’s Investors has: Albert A. Gore Jr. – Partner. Other current Kleiner Perkins Caufield & Byers relationships: The Climate Project – donor
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And we need more of the same? Is it any wonder the people and the Congress are rejecting Obama’s latest “jobs” bill?
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i supposed it would have been easier to give those 1000 person $500,000.00 each, that way they shold at least have expened here
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