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Keyword: loan

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  • The Largest Loan in Ex-Im History Is Covered in the Clintons’ Fingerprints

    07/13/2015 8:40:02 AM PDT · by afraidfortherepublic · 9 replies
    The National Review ^ | 7-13-15 | Brendon Bordelon
    Few in the odd coalition of Left and Right pushing for reauthorization of the 81-year-old Export-Import Bank have been louder than Democratic presidential candidate Hillary Clinton. “It’s wrong that candidates for president, who really should know better, are jumping on this bandwagon,” she said at a May 22 campaign stop in New Hampshire. “It’s wrong, it’s embarrassing. . . . The idea that we would remove this relatively small but vital source of funding for our businesses to compete is absolutely backwards.” Clinton’s defense of Ex-Im may be motivated by more than mere concern for American businesses. Critics have argued...
  • GRACE [Charismatic Caucus]

    07/09/2015 7:54:10 AM PDT · by Jedediah · 1 replies
    The Joshua Chronicles ^ | Jedediah, Holy Spirit
    I was torn to lament over situations recently so I asked The Lord to explain His Grace to me and I share it for your consideration . . . Grace is sufficient is more than a statement it is an enactment for many in My Creation ask "Why"? When I have given them the gift to (( ( "DECLARE" ) )) ((( "GRACE" ))) ! And so it is with this enlightenment they "IN FACT" carry the KEY to their own Blessings and Grace ! For I AM GRACE ETERNAL and it is in this manner you must speak and...
  • More US Consumers Signing Long-Term Auto Loans

    03/20/2015 7:13:12 AM PDT · by nascarnation · 55 replies
    The Truth About Cars ^ | 3/20/2015 | Camernon Aubernon
    In the past, six-year auto loans were few and far between. Today, more of those loans are being issued, with seven- and eight-year loans gaining popularity. NPR reports such loans are helping to fuel a boom in U.S. new-car sales, with one-third of the loans lasting 74 months and beyond. AutoPacific analyst Ed Kim says the cars are one of the reasons for the long loans: Consumers are demanding a lot more technology in their vehicles, infotainment technologies. There’s also a lot more safety features that are in vehicles right now. Emissions and efficiency technology that are in vehicles right...
  • Student Loan Debt: The Only Debt You Can’t Discharge in Bankruptcy

    09/30/2014 1:59:54 PM PDT · by SeekAndFind · 57 replies
    San Diego Free Press ^ | 09/30/2014 | John Lawrence
    Today’s students are being crushed with John Bunyan’s proverbial burden on their backs – student loan debt. Until relatively recently this debt could have been discharged in bankruptcy. Then all that changed when Sallie Mae, the Student Loan Marketing Association, was privatized in 2004. Albert Lord, the new CEO, and his lobbyists went to work to change the laws so that student loans could not be discharged in bankruptcy. Today the cumulative student loan debt is more than $1 trillion. While a generation ago a high school diploma was considered sufficient for a decent middle class entry level job, today...
  • ZOT Offer From A Private Lender

    09/07/2014 3:27:59 PM PDT · by Rashid Ibrahim · 2,147 replies
  • US Pays Half Of Gazprom's Overdue Invoice With $1 Billion Ukraine Loan Guarantee

    04/14/2014 8:00:00 AM PDT · by tcrlaf · 43 replies
    Zerohedge ^ | 3-14-2014 | Tyler Durden
    With Ukraine no longer paying for Russian gaz, and with Gazprom making it clear Kiev has to a) first pay the overdue $2+ billion in invoice and then b) prepay some $5 billion in gas until the end of the year of Europe gets it, it was only a matter of time before the US Treasury stepped in and paid off part or all of Gazprom's demands. That time is now, when moments ago Jack Lew announced a $1 billion loan guarantee for Ukraine - very much the same way that the US provided billions in loan guarnatees for the...
  • About that failed Fisker loan costing U.S. taxpayer $130+ mil.? Scratch that. It Might be way more.

    11/25/2013 5:59:18 PM PST · by SeekAndFind · 6 replies
    Hotair ^ | 11/25/2013 | Erika Johnsen
    On Friday, I mentioned that it seems that the odyssey of fail that was the Obama administration’s commitment to “investing” in Fisker Automotive was finally drawing to a merciful close, as the Department of Energy managed to (kind of shadily?) auction off the down-and-out company to some Chinese investors. With the deal, Americans taxpayers would only be taking a net hit of an oh-so-trifling $130 million or so. No big deal, right?Wrong.The Department of Energy originally extended Fisker a $529 million line of credit back in the 2009 stimulus effort, but cut off the already ailing Fisker in 2011 after...
  • Shut-down Slams Door on USDA (U.S. Department of Agriculture) Mortgages

    10/14/2013 3:44:16 PM PDT · by Libloather · 40 replies
    Daily Yonder ^ | 10/10/13
    A sign advertising low-interest housing loans at the Crescent Shores Subdivision in Lincoln, Delaware. The government shut-down has halted the processing of these loans, which are aimed at low- and moderate-income buyers. The week-old federal government shutdown is a disaster on many levels. For rural America, one major impact is in the area of housing. For the near future, low- and moderate-income homebuyers who have applied for mortgages guaranteed or made directly by the U.S. Department of Agriculture (USDA) Rural Housing Service are out of luck. So are very low-income homeowners seeking repair grants or loans.
  • Next "Subprime Crisis" Expands As Student Loan Defaults Hit $146 Billion, Highest Default Rate

    10/01/2013 7:37:56 AM PDT · by Nachum · 14 replies
    Zero Hedge ^ | 10/1/13 | Tyler Durden
    lmost exactly one year ago we wrote "The Next Subprime Crisis Is Here: Over $120 Billion In Federal Student Loans In Default" in which we took the latest (2009 three year cohort) loan default data on Federal Student Loans released by the Department of Education and applied it to the total amount of student loans outstanding, which back then was $914 billion. Yesterday, provided its annual update - this time to the 2010 three year and 2011 two year cohorts - and to nobody's major surprise, learned that things just got even worse. To wit: "The national two-year cohort...
  • best recourse on a bank that screws you over on a mortgage?

    09/18/2013 9:16:07 AM PDT · by TurboZamboni · 36 replies
    woe is me | 9-18-13 | TZ
    long story short, bank loan officer botched loan. cost incurred included: lost earnest money, moving truck fees, seller's late fees,missed work,etc.
  • 9 Investigates Student Loan Fraud

    08/30/2013 4:02:41 PM PDT · by sheikdetailfeather · 3 replies
    WFTV ^ | 8/30/2013 | WFTV
    ORANGE COUNTY, Fla. — 9 Investigates discovered the U.S. Department of Education was warned about an increase in student loan fraud two years ago but failed to put all of the recommended procedures in place to prevent it. Anchor Vanessa Welch started asking questions, and now a local congressman is getting involved. Frank Lilos relies on student loans to help pay tuition at UCF. He was surprised to learn about a huge student loan scam that costs taxpayers more than $187 million. "I think that's ridiculous to be getting that much money and not going to school," Lilos said. The...

    04/02/2013 7:58:47 AM PDT · by SeekAndFind · 14 replies
    Human Events ^ | 03/26/2013 | By: John Hayward
    Print Reuters brings grim tidings from the world of America’s debt-encrusted college students: Banks wrote off $3 billion of student loan debt in the first two months of 2013, up more than 36 percent from the year-ago period, as many graduates remain jobless, underemployed or cash-strapped in a slow U.S. economic recovery, an Equifax study showed.The credit reporting agency also said Monday that student lending has grown from last year because more people are going back to school and the cost of higher education has risen.“Continued weakness in labor markets is limiting work options once people graduate or quit...
  • Student Loans Dominate Increase In Consumer Credit Despite Worsening Performance

    03/07/2013 2:38:01 PM PST · by whitedog57
    Confounded Interest ^ | 03/07/2013 | Anthony B. Sanders
    According to The Federal Reserve today, consumer credit rose by $16.2 billion in January, higher than the expected increase of $14.7 billion. So, it appears that lenders are easy their credit standards, right? Not so fast. Depository institutions suffered a DECLINE of 168.7 BILLION in January. But the Federal government saw an INCR EASE in consumer credit of $310.8 billion (mostly student loans). Revolving credit (aka, credit cards) saw a decline in the flow of $233.4 billion. Nonrevolving credit ( automobile loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers,...
  • This student-debt crisis is escalating quickly

    11/30/2012 8:44:13 AM PST · by SeekAndFind · 18 replies
    Hotair ^ | 11/30/2012 | Erika Johnsen
    Throughout his perpetual campaigning, President Obama has made a big point about being the champion of students and young people in helping to make college more accessible and affordable and helping out with student debt --- and yet, miraculously, here we are with student-loan debt and college tuition prices both quickly ballooning, and no end in sight. Could it be that perhaps the government trying to do more to "help" prospective-and-past students is actually what's dramatically worsening the student-debt problem? From the WSJ: Nearly all student loans—93% of them last year—are made directly by the government, which asks little or...
  • Feds allege mortgage loan fraud at Wells Fargo (Warren Buffet part-owner)

    10/10/2012 7:28:19 AM PDT · by Liz · 22 replies
    The nation’s biggest bank and its largest mortgage lender, was charged by federal prosecutors with running a decade-long mortgage fraud involving recklessly underwritten US-insured home loans to fatten its bottom line.
  • Feds accuse Newport man of using school loans on drugs, motorcycles, games and tattoos

    09/27/2012 3:53:37 PM PDT · by george76 · 12 replies
    The Patriot-News ^ | September 27, 2012 | MATT MILLER,
    Robert Thomas Price Jr. borrowed about $105,000 for his tuition at Harrisburg Area Community College from 2005 and 2007... ... A U.S. Middle District Court indictment alleges that Price spent much of the loan money on crack cocaine, cars, motorcycles, jewelry, tattoos and video games. U.S. Attorney Peter J. Smith said today that Price secured about $92,000 in private student loans and around $13,000 in federal PELL grants and Stafford loans ... Tuition for 12 credits of study at HACC currently costs $2,022 per semester ...
  • Ailing Egypt seeks $4.8 billion IMF loan

    08/22/2012 6:22:26 PM PDT · by NormsRevenge · 26 replies
    Yahoo! News ^ | 8/22/12 | Maggie Michael - ap
    CAIRO (AP) — Egypt formally asked the International Monetary Fund for a $4.8 billion loan on Wednesday, seeking a desperately needed rescue package for its faltering economy but raising the possibility of painful restructuring in a country still reeling since its revolution more than 18 months ago. The loan deal, which Egypt says it will reach by the end of the year, presents a major test to the Muslim Brotherhood-rooted president, Mohammed Morsi, the country's first ever freely elected leader, brought to power after the fall of Hosni Mubarak. The IMF has avoided making specific conditions for a loan but...
  • DOE Official: Loan Program Wasn’t About Job Creation

    07/12/2012 4:48:58 PM PDT · by Nachum · 2 replies
    Washington Free Beacon ^ | 7/12/12 | staff
    Vid at link
  • debt collectors reap huge salaries chasing student loans

    05/15/2012 8:08:54 PM PDT · by TurboZamboni · 12 replies
    Minnesota nonprofit that's on the front lines of a growing debate over student-loan debt. Bloomberg Businessweek profiles Educational Credit Management Corp., one of the 32 “guaranty agencies" that oversee student loans for the U.S. Department of Education and try to recover money. Its bill collectors can be highly rewarded. ECMC's top collector took home $454,000 in just one year, twice as much as the U.S. secretary of education. The CEO of the group made $1.1 million in 2010. The company moved from downtown St. Paul to Oakdale a few years ago.
  • Mark Cuban: The Student Debt Crisis Is The Biggest Economic Problem In America

    05/26/2012 7:51:11 AM PDT · by SeekAndFind · 47 replies
    Business Insider ^ | 05/25/2012 | Mark Cuban
    This is what I see when i think about higher education in this country today: Remember the housing meltdown? Tough to forget isn’t it. The formula for the housing boom and bust was simple. A lot of easy money being lent to buyers who couldn’t afford the money they were borrowing. That money was then spent on homes with the expectation that the price of the home would go up and it could easily be flipped or refinanced at a profit. Who cares if you couldn’t afford the loan. As long as prices kept on going up, everyone was happy....
  • Newbury Park Woman Faces Eviction After Husband’s Suicide

    05/17/2012 2:31:28 PM PDT · by Theoria · 14 replies
    CBS ^ | 16 May 2012 | CBS
    A woman is packing up her home after being served an eviction notice — a situation that drove her husband to commit suicide. “I lost my husband and it hurts me like hell,” said Oriane Rousseau, whose husband, Norman, took his life Sunday after an eviction notice was placed on their front door. Norman’s death has delayed the eviction but Oriane said it’s difficult for her to stay in the home where he died. “I don’t want this to happen to anybody. This is horrible. I lost my husband. I lose my pets, I lose my house, I lose my...
  • Obama’s Plan: Raise Taxes, Spend More, and Pander Some More

    04/25/2012 10:05:33 AM PDT · by Starman417 · 4 replies
    Flopping Aces ^ | 04-25-12 | Curt
    Runaway spending is causing our doom, so why not spend a bit more. This time to pander to the youth in our country: Obama told the students that since they were born, tuition and fees at colleges have doubled. “And that forces students like you to take on a lot more loans, there are fewer grants, you rack up a lot more debt,” Obama stated. “Can I get an Amen for that?” he asked the crowd who cheered, “AMEN!” “Now, the average student who borrows to pay for college, now graduates with with about $25,000 in debt, that’s the average,...
  • Pelosi joins Democrats' push for Republicans to act on student loan rates (What about Hussein?)

    04/21/2012 10:01:03 PM PDT · by Libloather · 25 replies
    The Hill ^ | 4/21/12 | Mike Lillis
    Pelosi joins Democrats' push for Republicans to act on student loan ratesBy Mike Lillis - 04/21/12 11:11 AM ET The leading House Democrat on Saturday joined President Obama in calling on Republicans to extend low interest rates on student loans. House Minority Leader Nancy Pelosi warned that allowing rates to jump, as they're scheduled to do this summer, would put college "further out of reach" for middle class families struggling in the still-limping economy. "[I]f Republicans don't act, interest rates are set to double this July, and more than seven million borrowers will find themselves paying more," Pelosi said Saturday...
  • Schumer calls on Congress to address rising student loan rates by summer

    04/07/2012 6:12:06 PM PDT · by Libloather · 18 replies
    The Hill ^ | 4/06/12 | Ramsey Cox
    Schumer calls on Congress to address rising student loan rates by summerBy Ramsey Cox - 04/06/12 03:08 PM ET Sen. Charles Schumer (D-N.Y.) on Thursday announced his support for a bill to extend a reduced student loan rate for one year. In July, the interest rates on federally subsidized Stafford Loans will double from 3.4 percent to 6.8 percent unless Congress acts. Schumer called on Congress to pass Sen. Jack Reed's (D-R.I.) bill, S. 2051, which is pending in the Senate Health, Education, Labor and Pensions Committee. "Rising interest loan rates sound like nails on the chalkboard for New York’s...
  • Ben Bernanke Says That His Son Will Graduate With $400,000 Of Student Loan Debt (Medical School)

    03/12/2012 12:15:42 PM PDT · by SeekAndFind · 56 replies
    The Economic Collapse ^ | 03/12/2012 | Michael Snyder
    Who ever imagined that Ben Bernanke would become a poster child for the student loan debt problem in America? Recently Bernanke told Congress that his son will graduate from medical school with about $400,000 of student loan debt. For most Americans, such a staggering amount of debt would almost certainly guarantee a lifetime of debt slavery. Unfortunately, Bernanke's son is not alone. According to the Federal Reserve Bank of New York, approximately 167,000 Americans have more than $200,000 of student loan debt. The cost of a college education has increased much more rapidly than the rate of inflation over...
  • Student-loan delinquencies may be higher than previously thought

    03/06/2012 12:41:05 PM PST · by SeekAndFind · 13 replies
    Los Angeles Times ^ | 03/06/2012 | Don Lee
    Some have called the nation’s soaring college debt load a “ticking bomb” -- a new bubble crisis threatening young adults, their families and the broader economy. Are those fears warranted? A report Monday adds to the alarm bells. In it, the Federal Reserve Bank of New York says it’s likely that as many as one out of four borrowers are carrying a past-due student loan balance. That’s a much higher rate of delinquency than previously thought. By the more conventional measure, the Fed report says, 5.4 million out of 37 million borrowers with student loan balances as of last summer...
  • Chu: Expect more ('inherent risk' green technology) loan guarantee failures

    02/10/2012 3:22:02 PM PST · by Libloather · 7 replies
    The Hill ^ | 2/10/12 | Ben Geman
    Chu: Expect more loan guarantee failuresBy Ben Geman - 02/10/12 05:47 PM ET Energy Secretary Steven Chu again warned Friday that more recipients of Energy Department green technology loan guarantees will likely collapse even as he touted the strength of the program overall. The warning comes as many Republicans are continuing to assail the green energy loan program as a risky use of taxpayer dollars. “We have always known that there were inherent risks in backing innovative technologies at full commercial scale, and it is very likely that there will be other companies in the portfolio that won’t succeed,” Chu...
  • Energy Secretary Chu defends loan program as White House report looms (post-Solyndra review)

    02/08/2012 5:10:23 PM PST · by Libloather · 2 replies
    The Hill ^ | 2/08/12 | Andrew Restuccia
    Energy Secretary Chu defends loan program as White House report loomsBy Andrew Restuccia - 02/08/12 10:09 AM ET Just days before the White House unveils a post-Solyndra review of the Energy Department’s loan program, Energy Secretary Steven Chu defended the program Wednesday against sustained Republican attacks. Chu said the Energy Department made a series of changes to the program before and after the collapse of Solyndra, the California solar panel maker that received a $535 million loan guarantee in 2009. “Long before Solyndra became a common word, we have been looking at how, in everything we do in the Department...
  • USDA loan program 'creates' jobs for $2.5M each

    01/26/2012 9:53:28 AM PST · by Nachum · 5 replies
    Washington Examiner ^ | 1/26/12 | Joel Gehrke
    Agriculture Secretary Tom Vilsack today announced his second bio-fuels loan guarantee in a week, revealing that the Agriculture Department (USDA) is slated to loan an Oregon biorefinery $232.5 million for a project expected to create 65 jobs and support 38 others. "This project and others like it will help to establish a domestic advanced biofuels industry that will create jobs here at home and open new markets in the Pacific Northwest and across America," Vilsack said in a statement. ZeaChem Boardman Biorefinery, LLC (ZBB), "must meet specific conditions before the 60 percent loan guarantee can be completed."
  • Chairman Issa Responds to DOE Announcement that Severstal’s Loan will not be Funded

    01/07/2012 9:15:38 PM PST · by Rabin · 3 replies · 1+ views ^ | Friday, 6 January 2012 | staff
    WASHINGTON, D.C. – House Oversight and Government Reform Committee Chairman Darrell Issa today responded to the Energy Department's announcement that their $730 million loan to Severstal, a Russian steel company, will not be granted... "While I am pleased that the Department of Energy has reconsidered its decision to fund a $730 million loan to Severstal, it's deeply disconcerting to know that this loan would have gone forward had Congress not raised concerns… Following the waste of taxpayer dollars in the collapse of Solyndra, the Department of Energy needs....
  • Electric car company that received a $529M federal loan recalls vehicles (catches fire)

    12/30/2011 4:36:24 PM PST · by Libloather · 46 replies
    The Hill ^ | 12/30/11 | Andrew Restuccia
    Electric car company that received a $529M federal loan recalls vehiclesBy Andrew Restuccia - 12/30/11 10:31 AM ET An electric vehicle manufacturer that received a $529 million loan from the Energy Department is recalling 239 vehicles. The Transportation Department’s National Highway Traffic Safety Administration (NHTSA) said Thursday that the company, Fisker Automotive, will recall its Karma vehicles made between July 1, 2011, and Nov. 3, 2011, because of a faulty electric battery component that could cause a fire. “Within the high-voltage battery, certain hose clamps may have been positioned incorrectly during assembly. If positioned incorrectly, the batter compartment cover could...
  • Solyndra investor frequently visited White House officials (billionaire George Kaiser)

    12/01/2011 5:56:20 AM PST · by Libloather · 1 replies
    California Watch ^ | 12/01/11 | Daniel J. Goldstein
    Solyndra investor frequently visited White House officialsDaniel J. Goldstein, California Watch December 1, 2011 George Kaiser, the top investor in the failed company Solyndra and a chief fundraiser for the Obama campaign, visited White House officials at least 16 times between March 2009 and July 2011, including three times in one day shortly after the administration expressed second thoughts about granting the company a loan, according to White House visitor logs. Solyndra, a maker of thin-film solar panels, received a $535 million loan from the Department of Energy in September 2009. In August 2011, the company declared bankruptcy. Kaiser, an...
  • Energy Secretary Steven Chu defends Solyndra loan (then shouldn't he have to pay it back?)

    11/17/2011 1:13:55 PM PST · by Libloather · 6 replies · 1+ views
    LA Times ^ | 11/17/11 | Neela Banerjee
    Energy Secretary Steven Chu defends Solyndra loanBy Neela Banerjee Washington Bureau November 17, 2011, 12:42 p.m. Energy Secretary Steven Chu firmly pushed back against Republican allegations that political favoritism and bureaucratic incompetence led his agency to approve a $535 million loan guarantee to Solyndra, in a much-anticipated appearance by the highest level Obama administration member so far before Congressional investigators looking into the failed solar equipment maker. A Nobel prize-winning physicist and Washington outsider, Chu remained as unflappable as any seasoned Washington politico while parrying often-repetitive questions for more than four hours from the oversight subcommittee of the powerful House...
  • Second Solyndra Loan Discussed With Energy Dept., E-Mail Suggests (Kaiser)

    11/09/2011 3:46:42 PM PST · by Libloather · 2 replies
    NY Times ^ | 11/09/11 | MATTHEW L. WALD
    Second Solyndra Loan Discussed With Energy Dept., E-Mail SuggestsBy MATTHEW L. WALD Published: November 9, 2011 WASHINGTON — New e-mails released by a Congressional committee indicate that an executive of a venture capital firm owned by an Obama campaign donor discussed the possibility of a second loan to Solyndra, the solar power company that recently defaulted on a $528 million government loan, with the Department of Energy and with his boss. The committee is seeking to show that the donor, George B. Kaiser, an Oklahoma oil billionaire, pulled strings at the White House to get the original loan guarantee. The...
  • Probe demanded on $730 million Energy Dept loan to Russian-owned steel company in Michigan

    11/08/2011 7:50:59 AM PST · by SeekAndFind · 4 replies
    Hotair ^ | 11/08/2011 | Ed Morrissey
    In June, the Department of Energy gave a “conditional commitment” to a firm called Severstal Dearborn LLC for a $730 million loan to help boost development of Advanced High Strength Steel (AHSS), which the Obama administration believes will be key to developing lighter and more fuel-efficient vehicles. However, two Republican Senators want an investigation of the decision to hand this much money to a firm that is a wholly-owned subsidiary of a foreign firm (OAO Severstal is based in Russia), for a product already available on the market from other manufacturers — and which Severstal already produces: Two GOP senators...
  • GOP senators call for Energy Dept. probe of $730M steelmaker loan (Severstal North America)

    11/08/2011 5:29:29 AM PST · by Libloather · 12 replies · 1+ views
    The Hill ^ | 11/07/11 | Ben Geman
    GOP senators call for Energy Dept. probe of $730M steelmaker loanBy Ben Geman - 11/07/11 04:32 PM ET Two GOP senators want the Energy Department’s (DOE) internal watchdog to investigate a planned $730 million loan for a company to manufacture high-strength automotive steel in Michigan. Sens. Dan Coats (R-Ind.) and Pat Toomey (R-Pa.) are asking DOE Inspector General Gregory Friedman to probe whether Severstal North America — a subsidiary of Russian steel giant OAO Severstal — should receive public financing to retool and expand facilities in Dearborn, Mich. “Given the tremendous fiscal crisis that we find ourselves in today, it...
  • Beacon Power bankrupt; had U.S. backing like Solyndra

    (Reuters) - Beacon Power Corp filed for bankruptcy on Sunday, just a year after the energy storage company received a $43 million loan guarantee from a controversial Department of Energy program. The bankruptcy comes about two months after Solyndra -- a solar panel maker with a $535 million loan guarantee -- also filed for Chapter 11, creating a political embarrassment for the administration of President Barack Obama, which has championed the loans as a way to create "green energy" jobs. Beacon Power drew down $39 million of its government-guaranteed loan to fund a portion of a $69 million, 20-megawatt flywheel...
  • Another Obama fundraiser is investor in car company that won federal loan (More Crony Socialism)

    10/28/2011 12:42:43 PM PDT · by tcrlaf · 12 replies
    WashPost ^ | 10-28-11 | Carol Leonnig
    An investment firm whose vice chairman has been an adviser and fundraiser for President Obama saw one of its portfolio companies win approval this year for $50 million in loans from the administration’s clean-energy loan program. Washington-based Perseus says its affiliation with James A. Johnson, a major fundraiser for Obama’s campaign, played no role in persuading the Energy Department to award the loan to Vehicle Production Group, a Miami start-up that is manufacturing wheelchair-accessible cars and taxis. Johnson headed Obama’s vice presidential selection committee in 2008 and is the former chairman of housing mortgage giant Fannie Mae. He was listed...
  • Gingrich calls Obama student loan proposal a 'Ponzi scheme'

    10/28/2011 7:10:29 AM PDT · by Libloather · 6 replies · 1+ views
    The Hill ^ | 10/28/11 | Justin Sink
    Gingrich calls Obama student loan proposal a 'Ponzi scheme'By Justin Sink - 10/28/11 08:15 AM ET Newt Gingrich said that President Obama's recently announced student loan proposal was a "Ponzi scheme." Obama's plan would allow for easier consolidation of outstanding student loans, and would forgive outstanding balances on federal loans after 20 years of payments, rather than 25. Federal loan repayments would also be capped at 10 percent of a borrower's income, lowering payments, down from 15 percent now. The president would also begin implementing the changes next year, rather than 2014 as was currently planned. But Gingrich says that...
  • WashPost: Obama’s student Loan Plan Isn’t So New

    10/26/2011 12:09:41 PM PDT · by tcrlaf · 8 replies
    WashingtonPost ^ | 11-26-11 | Michelle Singletary
    I can’t help but feel that President Obama’s new student loan proposal could take its title from William Shakespeare’s comedy “Much Ado About Nothing.” Technically, on paper, the “Pay as You Earn” plan that the president began trumpeting Wednesday is new because he will authorize it through an executive order. But that authority is being used to expand an existing program. (SNIP) Let me put it another way so you are clear on who will benefit from this change. The president’s order does not affect borrowers who took on loans before 2008 and who do not take out a new...
  • When Should The Bankrupt Federal Student Loan Program Stop Approving Student Loans?

    10/26/2011 6:53:10 AM PDT · by Graewoulf · 17 replies
    Graewoulf | October 26, 2011 | Graewoulf
    Will the "Super Committee," otherwise known as the "Twelve Disciples of Congressional Partisanship," (TDCP), recognize that the Federal Student Loan Program is bankrupt by nearly 1 TRILLION dollars? Will the TDCP close the loan window to student loans? How much bankruptcy debt is required before the Federal Student Loan Program is closed forever?
  • "Obama seeking relief to student loan borrowers"

    10/26/2011 6:36:44 AM PDT · by TheDailyChange
    As Obama's re-election campaign is in full swing he is seeking to regain the "Wet Behind The Ears" in debt up to their as! cash-strapped college graduates. Really creating Jobs aren't you Obama, what a guy.
  • Saving money on college loans: President changing programs to help millions (all forgotten @ 20yrs?)

    10/26/2011 5:07:14 AM PDT · by Libloather · 32 replies
    Fox 43 ^ | 10/26/11 | Michael Gorsegner
    Saving money on college loans: President changing programs to help millionsMichael Gorsegner - Staff reporter 6:44 a.m. EDT, October 26, 2011 SPRING GARDEN TOWNSHIP, YORK COUNTY— College is known as an investment in the future. But that investment is becoming a burden for many students. The President will announce some changes today that could lower the amount students pay for student loans. **SNIP** Graduates qualifying for the "Pay as You Earn" program will have to pay 10 percent of their discretionary income for up to 20 years. If there is still a balance after that time frame, the remaining due...
  • Energy Department Defends Loan to Company Building Electric Cars in Finland

    10/21/2011 10:23:35 AM PDT · by NoLibZone · 26 replies ^ | Oct 21,2011 | FNS
    The Department of Energy is standing by a $529 million loan guarantee to a company building an electric car line in Finland. A department official, in a lengthy response posted on a government blog Thursday night, confirmed that the company Fisker is assembling its Karma electric car at its "overseas facility." The response comes after ABC News reported that the Obama administration gave the green light for the company to move the manufacturing to Finland two years after announcing the loan. The ABC News report noted the political connections enjoyed by Fisker and another company, Tesla Motors, which together received...
  • Car Company Gets U.S. Loan, Builds Cars In Finland

    10/21/2011 9:44:07 AM PDT · by Justaham · 14 replies ^ | 10-20-11 | BRIAN ROSS, RONNIE GREENE
    With the approval of the Obama administration, an electric car company that received a $529 million federal government loan guarantee is assembling its first line of cars in Finland, saying it could not find a facility in the United States capable of doing the work. Vice President Joseph Biden heralded the Energy Department's $529 million loan to the start-up electric car company called Fisker as a bright new path to thousands of American manufacturing jobs. But two years after the loan was announced, the job of assembling the flashy electric Fisker Karma sports car has been outsourced to Finland. "There...
  • Fisker Karma: Solyndra on Wheels? (Add this to the union give-aways)

    10/20/2011 4:25:40 PM PDT · by OldCountryBoy · 1 replies
    Fantastical Andrew Fox ^ | Oct 19, 2011 | Andrew
    Our tax dollars at work… a half-billion dollar loan (actually $529 million) from the U.S. Department of Energy to develop a hybrid toy for the wealthy and/or celebri-licious (like Leonardo DiCaprio, one of the first customers) that, in real world driving, won’t get much better mileage than your average crossover utility vehicle. Not only that, but the cars are manufactured in Finland — that’s right, Finland – and shipped here for sale, where their purchasers will then receive a $7,500 tax credit for buying one (the “cheap” base model starts at $96,895, with the full-zoot Eco Chic model going for...
  • Treasury Officials' Testimony Fuels GOP Concerns Over Solyndra Loan Restructuring

    10/14/2011 12:51:43 PM PDT · by Lmo56 · 1 replies ^ | 10/14/11 |
    WASHINGTON – Treasury Department officials testified Friday that they've never in their careers seen the government handle a loan quite like the Energy Department handled the $528 million in taxpayer dollars that was lent to failed solar firm Solyndra. At a tense hearing on Capitol Hill, two Treasury officials acknowledged that the government's restructuring of the loan earlier this year was unusual, if not unprecedented. Through that process, Solyndra investors, not taxpayers, were put at the front of the line for recovering money in case of bankruptcy. Gary Burner, chief financial officer of the Treasury Federal Financing Bank responsible for...
  • Treasury off'l: Taxpayers on hook for loan before commercial firms is a first with Solyndra

    10/14/2011 11:53:01 AM PDT · by matthewreporter · 1 replies
    The Daily Caller ^ | October 14, 2011 | Matthew Boyle
    At Friday’s Solyndra hearing, an Obama administration Treasury Department official admitted that he’s never heard of taxpayer money being subordinate to outside commercial firms. That means the Obama administration is admitting it’s awfully suspicious that investors like George Kaiser’s firms and others got their cash back when Solyndra failed, but the taxpayers ended up on the hook for the $535 million the Department of Energy promised it via a loan guarantee.
  • Look whose relative just got $135.8 million energy loan

    10/12/2011 4:06:33 PM PDT · by antidemoncrat · 33 replies
    World Net Daily ^ | 10/11/2011 | Aaron Klein
    The sister-in-law of John Podesta, President Obama's influential White House transition director, served as the lobbyist for a wind power firm that was just awarded a $135.8 million loan guarantee from the Department of Energy.
  • SunPower: Twice As Bad As Solyndra, Twice As Bad For Obama

    10/11/2011 9:29:11 PM PDT · by Lmo56 · 8 replies
    Human Events ^ | 10/11/11 | Neil W. McCabe
    Congressman's Son Lobbied For Failing Solar Panel Company How did a failing California solar company, buffeted by short sellers and shareholder lawsuits, receive a $1.2 billion federal loan guarantee for a photovoltaic electricity ranch project—three weeks after it announced it was building new manufacturing plant in Mexicali, Mexico, to build the panels for the project. The company, SunPower (SPWR-NASDAQ), now carries $820 million in debt, an amount $20 million greater than its market capitalization. If SunPower was a bank, the feds would shut it down. Instead, it received a lifeline twice the size of the money sent down the Solyndra...