I'm sure it sounds just GREAT to Eat-the-Rich Big Government statist fools that think money grows on trees.In a Plus for Electrics, Tesla Repays a Big Federal Loan Early
The Energy Department on Wednesday said that losses on its loans were equivalent to 2 percent of its $34 billion portfolio.
“Tesla is arguably making the most exciting car in the world today,” said Mr. Kats, who worked in the Energy Department during the Clinton administration.
“This loan program has exceeded expectations.”
This sounds great. Don't you think?
2% of $34 billion is 480 MILLION of taxpayers' money LOST on these silly "greenie stimulus" frauds.
Tesla? An idiotic waste of public money.
This is for-profit product development, not basic research.
If Tesla can't raise private risk money on its own merits on the private market and build a competitive product, it certainly is not Washington bureaucrats' role to put the Taxpayer in the position of being the "dumb money" funding/subsidizing these schemes.