Stockman pre-empted today's report by WSJ Parrot Higgins. We've already excerpted on incest in post #27.
'The People's Car From Goldman Sachs
To be sure, electric vehicles are the red-hot flavor of the month, even on Wall Street. That explains how Goldman Sachs got into the act, too, bringing to market in April 2010 the IPO of the Fisker Automotive clone called Tesla motors. The latter also makes high-end electric-battery vehicles and was created by another billionaire venture capitalist who has also been a serial harvester of the Washington money tree, one Elon Musk.
Indeed, so incestuous is the plot that Musk hired Henry Fisker in one of the latter's earlier ventures to perform design work on an electric vehicle, then sued him for design theft when Fisker launched his own EV venture.
Not surprisingly, the ostensible reason Tesla got its very own $465 million loan guarantee from the DOE was to perform exactly the same gambit as Fisker. Tesla had developed a $110,000 electric vehicle called the Roadster, and so the taxpayer money was supposed to help it develop a people's car called the Model S which would retail at $55,000 before the $7,500 electric vehicle buyer's tax credit that Uncle Sam also had on offer.
Not surprisingly, Tesla has stumbled bringing its people's car to market just like Fisker has. In fact, Fisker is so far behind that even the DOE has had to freeze its funding; the company has fired the few workers who had been hanging around Joe Biden's empty car plant and now suggests the Atlantic may not appear until 2015, if ever.'
(Stockman, The Great Deformation: The Corruption of Capitalism in America, pp. 604-5)