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He's in there -- new questions this hour as yet another tax -- backed green energy company is reportedly on the verge of collapse.
-- -- automotive was backed by 549.
Million dollars in federal loan guarantees.
Since then the company has spent 200 million dollars of that.
That means taxpayers may not get that money back.
And it just the last month Fister has reportedly hired a bankruptcy lawyer oh -- And fired at least 75% of its workforce.
Far cry from the company's unveiling.
Just back in 2009.
When vice president Joseph Biden had to say that's listen.
Were -- standing today.
That began -- on what we're gonna be able let's say that doubters were wrong about our affiliate.
-- -- You hate to have those things on tape that you -- the person saying them.
And it wasn't just members of the administration getting behind the auto maker celebrities like Leonardo DiCaprio shown here.
It's also have -- hand helping raise more than a billion dollars in private funds to get behind this scare.
Alas it was not to -- Dobson he's host of Lou Dobbs tonight in a -- this is our I mean that's a laugh.
Because what it it was it sounds like a shocking failure but it's not that funny because it involves our money.
Yeah but you know the fact is if you might as well laugh because they -- made a car and over over a year.
They didn't sell hardly any except.
Live off the -- -- and I just can be very Justin -- few other folks they've got in on the ground floor.
And although everybody watching and listening to us right now.
Can feel very proud of something they can tell their grandchildren they were co -- -- Justin Bieber -- and another Caprio.
But didn't -- why wasn't this -- fault I mean how is it supposed to survive after it gave a car to consumer reports to test.
And that test car broke down on the -- -- back.
I mean it does his defense what she considers that this can -- have are -- were the.
-- did they give themselves -- I zero.
And and in a free market this thing shouldn't just blown -- gone away the -- why why did fail.
When it failed because they couldn't build a car they could make sense summit they outsourced everything they didn't -- the technology.
None of it was proprietary.
They were nothing more than an illusion and of course a fiction in the mind to Vice President Biden.
The Energy Department who he -- -- enthusiastic about it all he's enthusiastic about a brick wall but he's running into.
This guy has no clue what he's talking about when it talks when he talks about business economics and by the way it quite a few of his friends in Hollywood apparently in the same condition.
We have got to get this government and this administration out of picking winners and losers because all they -- -- losers.
I was they were connected to some 8123.
That weren't -- drink out of your -- that went into the -- Kyra op and that's how we also gave them about July Andre and I.
They want Sharia they went belly up and bought -- you know what's what's your grade is the Chinese bought a 123 battery -- -- -- -- Pumped about a half billion into it and they've got great technology.
And they -- renamed the company the Chinese.
And you know people think of the Chinese is not having a sense if you.
You know he's smarter than us right now.
There are funnier than we are this is although this is pretty funny I mean this is pretty funny -- -- -- if you -- it all well here's something funny about it.
This car was going to be built originally.
In Delaware and they would spend a lot of money.
Trying to clean up a plant there where they could work.
At the most that half billion dollar long guarantee one point two billion dollars they raised from private investors.
Created at its peak 600.
It was a disaster it was a farce I won't say it was a scam.
Because I'm sure they intended well.
Haven't tried they tried but the enemy and who are running the market has not been there for a lot of these green energy -- the administration though -- says let.
Win some lose some are if you look at our whole green energy portfolio were on the winning side you're not gonna hidden catered and every single one.
That's really funny because.
You know it's like this administration saying it's open and transparent I've looked at the winners and the losers I can't find the winners I cannot find the winners at all.
And if you know if anyone that the Energy Department like they're cleared up -- may be very helpful if you could tell me where.
Success has arisen as a result of the investment by the DOE because -- -- seen.
Is an absolute waste.
Sixteen billion dollars under this program.
They're big car was called the karma yeah.
Karma got you there now are you dead and finally I think you -- the -- tonight Kelly does an eighth of the end and at the end.
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