Fisker Goes Chapter 11 Bankruptcy

U.S. loses $139 million on Fisker sale

Fisker Automotive Inc. filed for Chapter 11 bankruptcy on Friday and the Energy Department sold its green-energy loan for $25 million to investor group Hybrid Tech LLC.

Taxpayers will lose $139 million on the $192 million loan to the failed electric vehicle startup, the Energy Department confirmed let Friday.

What a deal to play games with other people’s money. The investment goes kaput – oh well, the people in government lost nothing.

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