About This Video
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Published: Mon, 28 Sep 2009
Description: Gore-backed automaker secures $529 million taxpayer loan
Automatically Generated Transcript (may not be 100% accurate)
" alone of sorts and -- questions about the power of high level access. Isn't this the US government making a 529. Million dollar loan. To a small car company that happens to be backed by former vice president Al Gore here's the credit they're looking to -- get -- it is called the karma. Okay -- karma at the hybrid it's built by this third. I don't know that you -- never heard of this -- automotive. But critics are asking why would this US taxpayer funding be going to a car. Karma that's built in Finland -- that's -- good question. The price tag for this green mobile about 89000. Dollars and who where they -- this car for. Dave Williams -- Citizens Against Government Waste joins us now did in that did this really -- and I when I saw this story because it. Al Gore is connected to this company right. And when you today as she learned that the Department of Energy spent a lot of time with this -- they have lots of dollars to hand out the Department of Energy these programs spent a lot of time and they did test drives with this -- they spent all of this energy. Being there why did this company get this huge amount of -- in the -- government."
" Well it shows yet there's no such thing as a retired politician. Once you're a politician you still have sway with agencies. With other politicians and it says Al Gore still have a lot of clout unfortunately. And Department of Energy to secure -- 500. Million dollar loan."
" You know the other car there are lots of other car companies to apply for this money didn't get it and they are being a bit magnanimous and that they're saying. No we're not suggesting that there's any connection and it's highly possible that maybe Fister has the best model -- that the case."
" Well now I'm sure that's what they're PR people are telling and the second because. I'm sure they're behind closed doors -- pounding that that's going how -- we didn't get this and everyone looks around us as well. We don't have any influence -- as we don't have the former vice president. Batting for herself I think that yet they're they're being very magnanimous but I don't think -- here I think behind closed doors they're a lot more worried about this and this program that started. Under President Bush said this is you know the true hands of bipartisanship coming through here. It that you have a Republican president who signed this and now you have former vice president with a Democrat that's taken advantage of it is -- a beautiful world a bipartisan partisanship."
" It you know we we look at what -- 'cause -- 89000 dollars that's the one that. That -- this there is making there's another company Tesla Motors and they got 465. Million dollars in the same program. They're building a car that costs a 109000. Dollars -- Ali that all of this US taxpayer money. -- to encourage the building a fuel efficient cars but it's going to Finland's. To build cars that cost 89000 dollars and a 109000 dollars -- how is -- gonna you know make any impact. --"
" It really is that we talk about a 90000 dollar car and 110000 dollar car. This isn't gonna help average Americans this isn't gonna help the working class get these cars what it does is providing is creating. A new market for high end hybrid and electric vehicles."
" And the last -- the government should be doing is putting money into this if the private sector. Think that there's money -- can be made with this. They should be funding it not taxpayers imagine asking -- taxpayer who makes 30000 dollars a year saying hey listen we want."
" Yes some of your money so we can have a car to -- the rich people that doesn't fly any."
" Any -- test and a less important point of all this and making just let the car market decide where this money should go out. And if these huge and there's a lot of big venture capital firms involved in these businesses. If they believed so strongly that if these are huge good investments that are making a ton of money they're gonna get his company isn't the money that they need right. Ice is."
" Act -- the private sector looked at this and said there is no market for left so eat that that is scary and they had a lot of check that out that that's the case. And this is really of the government of last resort -- We couldn't get -- anywhere else summer coming -- we know that you have no internal controls and we just get some popular vice president. -- on our behalf sure we'll get a few hundred million dollars and we'll look taxpayer ever get paid back for this. It is very hard with unlikely that the taxpayer we'll get paid back this one."
" I need pilots and I just -- plant that district says that that the Department of Energy loan is gonna be used to finance -- production of 40000 dollar family sedan. But that's -- has has yet to be designed so we'll keep a -- plan and thank you very much state. -- Thank you that's karma right. Up another KRC it's an okay okay okay of the economy are you okay -- Chrysler are -- and --"
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