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
I referred to energy secretary Steven Chu as Wesley Mouch. Of course, right now the Wesley Mouch award is more likely to go to Obamacare than to the crony-capitalist “green energy” loan guarantees. Competition is tough.