30 million dollars net in...34.2 billion out. and you call it a net profit. Its the bizzarro world of lefties? When the money gets paid back.. then you can start talking about being in the black. And if most of the money paid back was from tesla returning principle as it seems I just read in your article. The entire premise of being 30 million in black is bullshit. What you have is 780 lost. 465 approximately back from tesla leaving 33. something in principle loans outstanding an some money being back in interest. so nothing is in the black. No don't get me wrong on this. I believe that there is some good to become of the govt supporting alternate energy programs. But your promoting a 30 million dollar profit when 33 billion is outstanding is ridiculous.
This was the quote from the article.... I found the logic bizarre. "Overall, the agency has loaned $34.2 billion to a variety of businesses, under a program designed to speed up development of clean-energy technology. Companies have defaulted on $780 million of that — a loss rate of 2.28 percent. The agency also has collected $810 million in interest payments, putting the program $30 million in the black."
Are the $33 billion in loans non-performing? Is the $810 million repaid only the interest or represents principle and interest repayments. So many questions - I'm genuinely interested to read more. The only other similar loan program I'm aware of is the Frannie/Freddie bailout, which is now profitable to taxpayers due to the interest payments, but not suggesting this program is in fact profitable.
By your logic banks and other lending institutions are not profitable as long as they have outstanding loans out,even if those loans are in good standing earning a profit
15 minutes of research from https://www.energy.gov/recovery-act and gotta call bullshit. This 34 billion is for government grants that would never have to be repaid, inclusive of loan guarantees, etc. The 810 million is not really interest but repayment of the grant funds. i.e. Tesla turning back the money.
No shit, what's up with all this hand wringing over a .25% increase. God Damn! I sold RE with a prime of 21%!! Fucking pussies!! Like I said before, if int. rates of 2.5-3% are killing the economy, we have much bigger problems.