obtain a $528 million loan from the U.S. Department of Energy
it also failed to enforce the loan conditions as Fisker breached the loan terms, PrivCo says. That failure cost the U.S. taxpayer an extra $192.3 million.
when the DOE privately issued a Drawdown Stop Notice to halt payments to the stumbling car company, it failed to warn future investors that Fisker was in default.
Seriously.....who needs to get fired at the DOE. This needs to stop.
I'm not so much pissed off about the money......that is the risk when the government chooses to fund startup's. I am pissed that when the DOE knew Fisker was not making their loan payments that they did nothing to warn other investors about the risk. That is just plain incompetence.
Kulaf wrote:I'm not so much pissed off about the money......that is the risk when the government chooses to fund startup's. I am pissed that when the DOE knew Fisker was not making their loan payments that they did nothing to warn other investors about the risk. That is just plain incompetence.
Incompetence is a surprise from the current "leaders" in DC?
