Is Mitt Romney Correct That Tesla Motors And Fisker Are Failures?

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In case you hadn't heard, last night was the first of three debates for the upcoming presidential election. While Mitt Romney and Barack Obama butted heads over the economy, a very notable quotable came up from Romney regarding government loans to the greener part of the auto industry.

You put $90 billion, like 50 years' worth of breaks, into - into solar and wind, to Solyndra and Fisker and Tesla and Ener1. I mean, I had a friend who said you don't just pick the winners and losers, you pick the losers, all right? So this is not the kind of policy you want to have if you want to get America energy secure.

Fisker and Tesla have obviously had their share of problems. Tesla has been struggling with downward sales estimates and monetary losses.


Fisker has had money issues and a recall due to a whole bunch of very public fires lately. They've also earned one of Consumer Reports' worst ratings ever for a passenger car. Not good things.


Both companies participate in a nascent industry and have had a few issues, so the question is should the government be participating in risky investments with taxpayer money? Do you think Mitt is right that these companies are wastes of government money and failures?.

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