We have more than enough evidence that the government loan program is mismanaged, counterproductive and outright corrupt.
WHY is there not already a moratorium on new loans until the issues surrounding Solyndra and similar are investigated and addressed?
Every loan seems to be a half-a-billion here and a half-a-billion there. WHY hasn’t the GOP worked to stop this now?
Ricardo Reyes, Tesla’s vice president of communications, called us this morning to clarify that the company is considering another loan, and been working through the pre-application process. But Tesla hasn’t made a decision on it or submitted a formal application to the US Department of Energy, which administers the loan program.
“Tesla has no completed loan applications pending before the DOE,” he said.
The program that has awarded loans to Tesla, Fisker Automotive and a handful of other car companies is separate from the one that gave $528 million to Fremont’s Solyndra, which declared bankruptcy earlier this month.
http://blog.sfgate.com/energy/2011/09/28/tesla-fed-loan-update/
Because they had to obligate all of the stimulus money prior to 9/30/11.