Fisker fiasco in the making

Solyndra is a solar scandal -- a Green Scheme gone bad that will cost taxpayers over one-half billion dollars.  But these government backed deals are like cockroaches: when you see one, others are likely to follow. Sure enough, on cue we have one more popping up on radar screens. This would be Fisker Automotive, a brand-new car company that is trying to build an electric vehicle. The company's investors include AL Gore and a raft of Democratic donors. The taxpayers are on the hook for another one-half billion dollars if (or when) this car company goes belly-up.  On the other hand, if it succeeds, the private investors can make many millions of dollars.  Heads: taxpayers lose; tails: the Democrats win. The latest news from the start-up is that the "if" --as in in "if it succeeds" -- should be italicized.  Fisker looks like a fiasco in the making:  a modern-day Edsel with the losers this time including American taxpayers. Carol Leonnig and Joe Stephens report in...(Read Full Post)

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